Other Money Mattersat Salary.sg – Your Salary in Singapore |
Much has been mentioned about the “transparency” of Sibor-pegged mortgage loans. But there are TWO risks associated with such loans. First is of course the possibility that the Sibor rate may go up. And it may shoot up dramatically. Just 3 years ago, Sibor was hovering around 3.5%. If your bank charges you Sibor + [...]
We conducted a poll on how much Salary.sg readers save. The results of the poll show that the average saving rate of our readers is 33.1%. The average Salary.sg saves about one-third of his/her monthly salary. The poll attracted more than 700 responses, 32% of which picked 21-40% as their saving rate. Another interesting finding [...]
Some people save a fixed amount of their monthly income and spend the rest. Others like myself spend prudently and save the rest. Regardless of whether you’re a spend-the-rest or save-the-rest saver, you should be able to gauge roughly how much you save a month. Though thrift and financial prudence have been extolled as good [...]
Read the full article at How Much Do You Save?According to our calculations, your citizenship is worth $4,511 more than permanent residents per year. For that, you have to serve NS if you are male, and watch some of your PR friends sell their HDBs for a good profit and then return to their (sometimes) cheaper home countries to enjoy retirement. As a Singapore [...]
Read the full article at Your Citizenship is Worth $4,511 More Than a PR Per YearAccording to one measure of affordability, our houses are less affordable than major cities like Sydney, Toronto, New York and even Tokyo. The mainstream media and HDB have (unsurprisingly) claimed otherwise and probably will give 101 reasons to support their arguments. More annoyingly, without much hint of sympathy, the media reported that “buyers can be [...]
Read the full article at Perceived Affordability of HDB FlatsAccording to the Straits Times (Sep 19), median home prices in 2008 were about 16.3 times the median annual income that year. The article never mentioned if 16.3x is a bearable or even realistic figure for individual households. Using ST’s median figures for 2008, if a household making $59,400/year were to buy a $970,000 condo, [...]
Read the full article at Is Your Home Price 7.6 Times Your Household Income?A forum letter to the Straits Times highlighted a different way to measure affordability. Based on Numbeo’s “house price to income ratio”, Singapore ranks below major cities like Tokyo, Barcelona, Milan, Dublin, Toronto, New York City, Geneva, Oslo, Rotterdam, San Francisco, Sydney, Vienna, Stockholm, Amsterdam, Zurich, Copenhagen and Berlin. This means: if we use all [...]
Read the full article at Our Houses Aren’t As Affordable As HDB SaysIf you are a local resident, simply use the tax calculator 2009 published previously. It takes into account the 20% special tax rebate. As the rebate is one-off, for foreigners who would like to get a sense of the tax rates in Singapore, without distortion from the one-off rebate, please use the following salary tax [...]
Read the full article at Salary Tax CalculatorWe have launched Salary.sg Forums. Now you can discuss salary, job, career and investment matters in a user-friendly forum format. Powered by vBulletin – which is the most popular forum engine among top discussion forums worldwide – you can now view well organized threads of discussions and reply directly to a particular thread or post [...]
Read the full article at Launch of Salary.sg ForumsAs the property market heats up again, you may be interested in buying a new home and taking up a Sibor-pegged property loan. Do you know that the 3-month SIBOR rate shot up to an astonishing 9.5% in early 1998? Or that it went to a low of 0.56% in mid-2003? The following chart shows [...]
Read the full article at Historical SIBOR (see graph)
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