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Three signs you spend too much on dining in Singapore

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By SingSaver.com.sg

As much as food is considered a necessity, you shouldn’t wreck your finances when you dine out in Singapore.

The best sign you spend too much on dining is usually your waistline, and this is one way in which budgeting is also the same dieting. Since our wallets tend to empty faster than we put on calories, though, we should look for financial indicators as well.

Watch out for these signs that you’re overspending on restaurants in Singapore:

1.There is a Consistent, Quarterly Increment in Dining Costs

A one-time bill of S$300 for a Michelin Star restaurant, or a big reunion dinner, is not an always an indication you overspend on food. These are exceptional events, and the cost is so high that you tend to scale back afterward quickly.

What you want to watch for is the creeping, upward movement of the food budget.

Track the amount you typically spend on each of the three meals. You can use any number of personal finance apps for that these days.

At the end of every three months, find the average you spend on restaurants. If you see this average moving up throughout the year, you know that you may be spending too much on dining, and it’s time to scale back.

It is a more accurate indicator than just looking at your bill for a specific month.

2. Your Expense Ratio on Dining is Above 25%

To determine what your expense ratio on dining is, measure the amount of money you spend on restaurant meals and compare it to your monthly income (after CPF).

For example, say you spend S$930 a month on food (around S$10 per meal), and your monthly pay after CPF is S$4,000. This is around 23% (S$930 / S$4,000), somewhat close to the 25% mark but still tolerable.

An expense ratio is more accurate than tracking the total spent on food. The simple reason is that if you earn more, you can afford a higher cost before straying into “overspending” territory.

If you earn S$10,000 a month, for example, spending S$2,500 a month on restaurants and cafes is not entirely out of the question. Let that be motivation for you to go out and earn more.

But once you go past the 25% mark, you’re probably overspending, regardless of what your income is. You have other bills to pay, right? And don’t be fooled, with Singapore prices it is easy to spend over a quarter of your income on food.

3. Dining Costs are Contributing to Rollover Debt

At no point should you have rollover debt or an unpaid amount on your credit card. If used correctly, the total interest paid on your credit card should always be S$0 (you pay in full every month).

Nonetheless, if you do have rollover debt, check your credit card transaction history. You may want to print it out, and circle every expense related to eating out.

If the bulk of the expense is related to restaurant meals, you know where your problem lies.

You should only use credit cards for dining as a mode of payment, to earn points or discounts. Pay using the card, but pay it back in full immediately after. You will come out ahead because of savings from cash rebates and points.

SingSaver.com.sg is a financial comparison platform for credit cards and personal loans in Singapore. Subscribe to its weekly newsletter to find out how you can make personal finance decisions.

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Lifestyle

Living modestly in Singapore on $10 a day: 27-year-old Malaysian man shares insights

In Singapore, a 27-year-old Malaysian man has gained attention on TikTok for his frugal approach to life while working in the bustling city. Jonathan Lim, a civil engineer earning around S$3,700 a month, shares his strategy for spending less than S$10 a day.

He divides his week between Singapore and Malaysia, staying in a hostel and focusing on economical food choices.

Despite some concerns about the extremeness of his thriftiness, many commend his financial discipline, while others suggest a slightly more flexible approach.

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SINGAPORE: A 27-year-old man from Malaysia, garnered the interest of social media users on TikTok due to his method of budgeting and practising a frugal lifestyle while employed in the bustling city of Singapore.

Many are left wondering whether it’s feasible to lead a modest life in Singapore without significant sacrifices.

Malaysian civil engineer, Jonathan Lim, has provided some insights through his TikTok documenting how he manages to spend less than S$10 a day while working in the city.

The video’s caption read: “Part 6: Is spending 10 dollars enough for a day working in Singapore?”

His TikTok content primarily revolves around detailing his expenses in Singapore, excluding the costs related to accommodation.

@jonlzx

Part 6: Is spending 10dollars enough for a day working in SINGAPORE? #sgvlog #worklife #minivlog #fypシ #simplelife

♬ 千与千寻 口琴版 – 口琴伟宝

Hybrid Work Arrangement

Lim, who earns about S$3,700 a month as a civil engineer in Singapore, follows a unique hybrid work arrangement.

He commutes from his home in Kulai, Johor, to Singapore three days a week, with the remaining days dedicated to remote work.

Lim strategically divides his time, with more than half of his week spent in his Johor home.

During the workweek, specifically on Mondays, Tuesdays, and Wednesdays, he opts to stay at a capsule hostel in Singapore.

This arrangement serves the purpose of reducing his expenses on permanent lodging in Singapore, although it necessitates regular commuting between Malaysia and Singapore.

His weekly schedule commences with a Monday morning journey to Singapore at 6 a.m., where he resides in the hostel for two nights.

Hostel Living and Food Choices

During his days in Singapore, Lim stays in a capsule hostel, which costs him about S$35 (approximately US$25.74) a night.

While this arrangement doesn’t include food expenses, the hostel provides free breakfast, helping him save on at least one meal each day.

Lim’s food choices are budget-friendly, focusing on cai fan (economic rice) for lunch and dinner, which costs him about S$3.60 per meal.

Occasionally, he indulges in items like bread and soya bean milk, emphasizing the affordability of such food options in Singapore.

For exercise, he opts for a cost-effective approach, eating grilled chicken drumsticks purchased from FairPrice, and running at public stadiums.

While a dinner consisting solely of protein might not seem substantial to some, Lim clarifies that the two drumsticks he purchased were exceptionally large, providing more than enough sustenance for an adult like him.

Therefore, when factoring in his daily transport costs of S$3, Lim’s daily expenses in Singapore amount to S$13.10, excluding accommodation expenses.

Balancing Thriftiness and Enjoyment

In his most recent TikTok video, Lim responded to both favorable and critical comments regarding his lifestyle of managing on S$10 or more per day in Singapore.

He expressed his belief that such frugal practices can become a standard way of life.

https://www.tiktok.com/@jonlzx/video/7276135975355485441?embed_source=121355059%2C121351166%2C121331973%2C120811592%2C120810756%3Bnull%3Bembed_blank&refer=embed&referer_url=mothership.sg%2F2023%2F09%2Fmalaysian-10-dollars-a-day-singapore%2F%3Ffbclid%3DIwAR1o-WKyDvXTTGxKWlXGd9u3xXdCO_4zyBOMRSF13kzzdcWs5dU2QI4E_9g&referer_video_id=7276135975355485441

Moreover, he aimed to dispel the misconception that his approach is detrimental to his well-being and happiness, emphasizing that he doesn’t sacrifice enjoyment to save a few dollars.

He acknowledges the trade-offs, such as spending time away from family and loved ones.

However, he sees this period as an opportunity for professional growth.

While Lim’s lifestyle is not his everyday routine, it highlights how one can manage expenses in an expensive city like Singapore.

He also appreciates the safety and amenities the city offers, such as safe streets for late-night jogging.

In the long run, Lim said he will need to decide whether to settle long-term in Singapore or return to Malaysia.

Supporters cheer Lim’s thrifty approach

The majority of people expressed their support for Lim’s frugal lifestyle, offering him their best wishes and advising him to disregard those who ridicule his way of life.

“Good to start saving up at a young age,” they said, while also cautioning against taking frugality to such an extreme that it becomes excessively absurd.

However, some users believe that Lim should consider a slightly higher expenditure than his current approach, asserting that life is too short to subject oneself to such deprivation.

“Can add another $2 la, don’t have to thrift like that,” one user said.

This was first published on Gutzy.Asia

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Lifestyle

Rachel Wan speaks out on father’s solitary passing in Singapore hospital due to staffing shortages

Rachel Wan of ‘Kin’ highlighted her father’s solitary passing in a Singapore hospital due to understaffing in an Instagram post. She contrasted Singapore’s overworked healthcare culture with Australia’s, emphasizing the need for a better work-life balance in the nation.

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SINGAPORE: On 25 August, Rachel Wan, the 26-year-old star of ‘Kin’, took to Instagram to share a poignant account of her father’s passing, revealing that he had died alone in a Singapore hospital due to understaffing issues.

Wan’s emotional revelation sheds light on the need for a transformation in the prevailing culture of overworking in the nation.

Disparities between healthcare work in Singapore and Australia

In a candid Instagram video, Wan expressed her long-standing desire to address a topic she finds deeply meaningful.

She remarked, “I came to Australia because I felt like there was a better work-life balance here,” before unveiling a recent discovery that profoundly affected her.

The ‘Kin’ star recounted her encounter with a nurse who had previously worked in the same Singapore hospital where her father had spent his final moments.

This nurse later moved to Australia, much like Wan herself.

A stark contrast between working conditions in the two countries emerged.

Wan unveiled that in Singapore, nurses might be tasked with managing “up to 12 patients at any given time”. Conversely, in Australia, nurses are limited to caring for six patients each.

Moreover, Australian healthcare staff are afforded designated rest periods between shifts, a practice reportedly absent in Singapore.

Heartbreaking account of Wan’s father’s passing

Wan’s emotions were palpable as she recounted the circumstances leading to her father’s demise, underscoring the fact that he passed away in solitude at the hospital without any loved ones by his side.

Her poignant Instagram tribute suggested that he passed away in March 2022.

Describing the events of his passing day, she detailed how her father had been transferred from the emergency ward to the general ward as his time grew short.

However, to access him, Wan and her family had to undergo a Covid-19 test, mandatory at the time for hospital visits. Tragically, her father passed away during the testing process.

Distressingly, no one from the hospital informed them of his passing.

Wan expressed her shock, revealing that they discovered his lifeless body alone in the ward without any staff present.

When she inquired about the lack of communication, a doctor allegedly cited understaffing as the reason.

Wan stressed the importance of sharing her experience, noting that the healthcare sector is not the only one grappling with such challenges in Singapore.

She asserted that overworking should not be celebrated as an achievement and urged for a shift towards a healthier work-life balance in the nation.

Her Instagram post resonated with many, drawing a flood of comments from netizens who shared their similar experiences and nurses who opened up about the demanding work environment they face.

Amidst the discussions, Wan clarified that her father’s passing was due to oesophageal cancer, not Covid-19.

A plea for empathy and understanding

In response to differing opinions, including some who highlighted Singapore’s relative advantages compared to other countries, Wan emphasized that her intention was to raise awareness about the lack of work-life balance in Singapore.

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Influencer and doctor Zoen Tay also contributed to the discourse, acknowledging room for improvement in both countries’ healthcare systems.

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Wan extended her empathy to Singaporean nurses, finding a sense of healing in realizing that her father wasn’t neglected due to a lack of care, but rather due to the strain of their demanding workload.

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