Tuesday, June 19, 2007

Cost of living

First, an extract from RedBean

We are progressing

We have over taken New York as the 14th most expensive city to live in. The rate of this climb is short of meteoric. From 46th in 2004, we leapfrogged to 34th and then 17th and today 14th.

Our next target is Hongkong, currently 5th. We only lost out in rentals. Our public transport cost is already almost double that of Hongkong and our hamburger meal is $1.50 more. Maybe we have already over taken Hongkong as the report was probably based on last year's data. The phenomenon rise in our property prices and rentals is beating all records. If we have not beaten Hongkong yet, we are very close.

By the time we are 6.5 million, the top slot will definitely be reserved for us. Then we can tell the world we are number one again.

Followed by an extract from

General measures

Firstly, cut down waste. I think we can do it with some of the expensive goods or services without suffering too much effect.

Secondly, Be selective. Avoid the places that overcharge. Look for alternatives. Don’t give them your custom.

Thirdly, share things with friends and relatives whenever possible instead of buying or renting.

All this steps could mitigate the current dollar erosion in Singapore, but it will not improve your standard of living.

By Seah Chiang Nee

7% GST in kicking in from July 2007, but all major coporations, many of the GLC linked companies and essential services have already increased their prices. And in due time, we will probably increase the GST yet again. If memory serves me right, the GST will eventually rise to 10%. All this cost increases with stagnant wages for the lower middle class, how much can their $1 stretch to?

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