Read more at https://www.channelnewsasia.com/news/singapore/cost-of-living-monthly-household-income-singapore-11769786
(Updated: )
Danny Lum
(1) Very interesting that netizens here doubt the accuracy of the statistics here - which is conducted every year.
(2) It is not based on survey - but actual data and statistics collected.
(3) The statistics is based on actual data for every household in Singapore - that include all Singaporean citizens and PRs.
(4) It include household who are working, retirees, part-time workers, contract jobs etc.
(5) The median household income and income per person - are quite close to the average household income and income per person.
(6) In 2017, the median household income is $9,023 and in 2016, $8,846.
(7) In 2017, the median income per person is $2,699 and in 2016, $2,584.
(8) The household income are collected from HDB 1-room, 2-room, 3-room, 4-room, 5-room & executive, condo, landed properties --- that cover all Singaporeans citizens and PRs.
(9) To conclude, the data collected by the Department of Statistics is accurate - and not fake news.
(2) It is not based on survey - but actual data and statistics collected.
(3) The statistics is based on actual data for every household in Singapore - that include all Singaporean citizens and PRs.
(4) It include household who are working, retirees, part-time workers, contract jobs etc.
(5) The median household income and income per person - are quite close to the average household income and income per person.
(6) In 2017, the median household income is $9,023 and in 2016, $8,846.
(7) In 2017, the median income per person is $2,699 and in 2016, $2,584.
(8) The household income are collected from HDB 1-room, 2-room, 3-room, 4-room, 5-room & executive, condo, landed properties --- that cover all Singaporeans citizens and PRs.
(9) To conclude, the data collected by the Department of Statistics is accurate - and not fake news.
Like · Reply · 1m
Danny Lum
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Freddy Chin
Channelnewsasia says that it is a survey. Did anyone knock at your door to ask you what you have spent on? If not, how can it be ALL people? Do you have an understanding of sampling?
Danny Lum
Freddy Chin -
(1) Do you have the DOS report about this Household Income study that cover all types of flat and housing every year?
(2) It cover all the 1 million over household in Singapore.
(3) Now you say yourself that no one knock at your door to do survey - so is it a survey?
Obviously not.
(4) The Government has database of every household income and other financial status - so is there a need for a survey?
If no survey and sampling - then is it real statistics and data or survey?
(5) You do not need to "teach me" sampling and statistics - save it for your self.
(6) You honestly believe that if a Government man knock at your door for a survey - you will without any doubt furnish all your income, bank book, all earnings and all your household members earning to the surveyor?
Only a fool will believe that people will do that and even if people honestly do, they will miss things out - and the survey cannot be accurate.
(1) Do you have the DOS report about this Household Income study that cover all types of flat and housing every year?
(2) It cover all the 1 million over household in Singapore.
(3) Now you say yourself that no one knock at your door to do survey - so is it a survey?
Obviously not.
(4) The Government has database of every household income and other financial status - so is there a need for a survey?
If no survey and sampling - then is it real statistics and data or survey?
(5) You do not need to "teach me" sampling and statistics - save it for your self.
(6) You honestly believe that if a Government man knock at your door for a survey - you will without any doubt furnish all your income, bank book, all earnings and all your household members earning to the surveyor?
Only a fool will believe that people will do that and even if people honestly do, they will miss things out - and the survey cannot be accurate.
Like · Reply · 1m · Edited
Danny Lum
(1) The household income is not about the salary of one working person --- but rather it cover the income of the entire household - eg. father, mother, grandfather, grandmother, sons, daughters in one household.
(2) The household income cover more than salary, it also include all the household members eg :-
- Salary
- Bank interest income
- Bond interest
- Insurance interest
- Investment interest
- CPF interest
- CPF
- dividend from shares,
- bursary, scholarship,
- rental income,
- Government transfer eg. GST voucher, medisave rebate, town council rebate, power and water utilities rebate, medical subsidies, CHAS etc.
- Pioneer Gen, Merdeka Gen rebate etc.
(3) The actual average breakdown of household income are as follow :-
- 1 to 2 room HDB - $ 2,521
- 3 room HDB - $ 5,868
- 4 room HDB - $ 8,827
- 5 room HDB and Executive - $ 12,244
- Condo - $ 21,830
- Landed Properties - $ 28,937
(4) The DOS don't need to knock at your house to do a survey - in order to produce this data and statistics eg.
- Income Tax - will reveal salary, rent income
- CDP - will reveal bond interest, share dividend
- MOE - will reveal bursary, scholarship
- CPF - will reveal CPF contribution, CPF interest
- MOF - will reveal all the Govt transfer from the Govt Budget, GST spendings.
(5) Seriously the netizens here really believe the data and statistics produce is fake news? is bias sampling?
is bias survey?
(2) The household income cover more than salary, it also include all the household members eg :-
- Salary
- Bank interest income
- Bond interest
- Insurance interest
- Investment interest
- CPF interest
- CPF
- dividend from shares,
- bursary, scholarship,
- rental income,
- Government transfer eg. GST voucher, medisave rebate, town council rebate, power and water utilities rebate, medical subsidies, CHAS etc.
- Pioneer Gen, Merdeka Gen rebate etc.
(3) The actual average breakdown of household income are as follow :-
- 1 to 2 room HDB - $ 2,521
- 3 room HDB - $ 5,868
- 4 room HDB - $ 8,827
- 5 room HDB and Executive - $ 12,244
- Condo - $ 21,830
- Landed Properties - $ 28,937
(4) The DOS don't need to knock at your house to do a survey - in order to produce this data and statistics eg.
- Income Tax - will reveal salary, rent income
- CDP - will reveal bond interest, share dividend
- MOE - will reveal bursary, scholarship
- CPF - will reveal CPF contribution, CPF interest
- MOF - will reveal all the Govt transfer from the Govt Budget, GST spendings.
(5) Seriously the netizens here really believe the data and statistics produce is fake news? is bias sampling?
is bias survey?
Like · Reply · 1m
Danny Lum
Danny Lum
Posted on :- 19 Aug 2018 09:38PM
Danny Lum
If we anaylyse people's needs in a Society, it can be generally classified into 3 baskets.
(1) 1st basket - Meeting people physiological needs and security needs. (eg. housing, healthcare, education, etc).
(2) 2nd basket - Meeting people's income and earning needs.(eg. jobs, business, growing passive income)
(3) 3rd basket - Containing cost of livings to ensure people's income can cover cost of livings and there will be savings for retirement, for rainy days as well as monies for investment to grow the income.
Government, People and Business - play a pivotal roles in providing the 3 basket of needs and at the same time benefits from the 3 baskets of needs.
Government role - is to ensure balancing the 3 baskets of needs - whereby people can improve their standard of living - by increasing income of the people, maintaining physiological and ensure security needs at an affordable cost and containing the cost of living in the macro level.
As long as the Government is able to do well in maintaining these 3 Baskets of Needs - and improve the standard of living - then the Government is a good Government and will continue to win the trust of the People.
Similarly, citizens also need to play a part in maintaining these 3 baskets of needs - in a micro level.
Business also need to play a part in maintaining these 3 baskets of needs - while earning profits and create wealth - but also needs to ensure it has a "Heart" when doing so.
Like · Reply · 1m
Danny Lum
In this era of data science, availability of big data and meta data, AI, machine learning and deep learning --- felt that it may be possible to come out with a generalised model for 3 income groups (low, middle, high income) - taking into account the variables of the 3 baskets to make a benchmark for each income groups.
Adjustment of the variables of the 3 baskets can be make to ensure - an equilibrium can be make.
And then policies can be targeted to improve the variables of each of the 3 baskets -- to ensure the standard of living of people can improve progressively.
Wonder for those experts or specialists in simulation model - can such model be built to become a decision making tool ---- so that this will help to produce more realistic data, more scientific data - that can help the Government in making more precise, more specific policies -- that can target at the various income groups --- and better still more precisely target at individual household to improve each income group and household standard of living.
To be able to achieve this level of precision and sophistication - will be the utopia of governance ---- is this a dream or is this achievable?
Seems like what is virutal can be a reality........
Like · Reply · 1m
Danny Lum
In this Standard of Living Model - when in equilibrium (means the 3 baskets of needs are in equilibrium) for the various income group or each household - people will be generally happy with their standard of living.
This model can be build --- because all the 3 baskets can be denominated into $ and cents.
Why?
(1) 1st basket - Housing, transport, education, health, electricity bill etc are in $ and cents.
(2) 2nd basket - income are in $ and cents.
(3) 3rd basket - cost of livings are in $ and cents.
Thus building the Standard of Living Model - should not be a "rocket science".
Quite confidence that if Economic Model (that determine a Country's interest rate, currency exchange rate, fiscal policy, monetary policy etc) - are adjusted to ensure Economic growth --- this Standard of Living Model can also be build.
What is needed - is realistic data.
Any policy adjustment - that impact any of the variables of the 3 basket --- will have upset the equilibrium.
The equilibrium can be a National Equilibrium of the respective income group or Household level Equilibrium.
And any adjustment of policy - will definitely impact other baskets or some variables of the basket.
For eg. increase transport cost in 1st basket - will bring about increase in cost of living in the 3rd basket --- and this will impact the Standard of Living Equilibrium.
Thus compensating factor will need to come in - to bring it back to the Equilibrium - for eg. by Government effort or individual effort to boost income or earning in the 2nd Basket.
Individual effort will bring about household equilibrium, while Government effort will bring about national equilibrium.
--- Thinking aloud, wonder if any institution will like to take this suggestion up as a project -- e.g A*Star, NTU, NUS, SMU or other Universities.
Like · Reply · 1m
Danny Lum
If we anaylyse people's needs in a Society, it can be generally classified into 3 baskets.
(1) 1st basket - Meeting people physiological needs and security needs. (eg. housing, healthcare, education, etc).
(2) 2nd basket - Meeting people's income and earning needs.(eg. jobs, business, growing passive income)
(3) 3rd basket - Containing cost of livings to ensure people's income can cover cost of livings and there will be savings for retirement, for rainy days as well as monies for investment to grow the income.
Government, People and Business - play a pivotal roles in providing the 3 basket of needs and at the same time benefits from the 3 baskets of needs.
Government role - is to ensure balancing the 3 baskets of needs - whereby people can improve their standard of living - by increasing income of the people, maintaining physiological and ensure security needs at an affordable cost and containing the cost of living in the macro level.
As long as the Government is able to do well in maintaining these 3 Baskets of Needs - and improve the standard of living - then the Government is a good Government and will continue to win the trust of the People.
Similarly, citizens also need to play a part in maintaining these 3 baskets of needs - in a micro level.
Business also need to play a part in maintaining these 3 baskets of needs - while earning profits and create wealth - but also needs to ensure it has a "Heart" when doing so.
Like · Reply · 1m
Danny Lum
In this era of data science, availability of big data and meta data, AI, machine learning and deep learning --- felt that it may be possible to come out with a generalised model for 3 income groups (low, middle, high income) - taking into account the variables of the 3 baskets to make a benchmark for each income groups.
Adjustment of the variables of the 3 baskets can be make to ensure - an equilibrium can be make.
And then policies can be targeted to improve the variables of each of the 3 baskets -- to ensure the standard of living of people can improve progressively.
Wonder for those experts or specialists in simulation model - can such model be built to become a decision making tool ---- so that this will help to produce more realistic data, more scientific data - that can help the Government in making more precise, more specific policies -- that can target at the various income groups --- and better still more precisely target at individual household to improve each income group and household standard of living.
To be able to achieve this level of precision and sophistication - will be the utopia of governance ---- is this a dream or is this achievable?
Seems like what is virutal can be a reality........
Like · Reply · 1m
Danny Lum
In this Standard of Living Model - when in equilibrium (means the 3 baskets of needs are in equilibrium) for the various income group or each household - people will be generally happy with their standard of living.
This model can be build --- because all the 3 baskets can be denominated into $ and cents.
Why?
(1) 1st basket - Housing, transport, education, health, electricity bill etc are in $ and cents.
(2) 2nd basket - income are in $ and cents.
(3) 3rd basket - cost of livings are in $ and cents.
Thus building the Standard of Living Model - should not be a "rocket science".
Quite confidence that if Economic Model (that determine a Country's interest rate, currency exchange rate, fiscal policy, monetary policy etc) - are adjusted to ensure Economic growth --- this Standard of Living Model can also be build.
What is needed - is realistic data.
Any policy adjustment - that impact any of the variables of the 3 basket --- will have upset the equilibrium.
The equilibrium can be a National Equilibrium of the respective income group or Household level Equilibrium.
And any adjustment of policy - will definitely impact other baskets or some variables of the basket.
For eg. increase transport cost in 1st basket - will bring about increase in cost of living in the 3rd basket --- and this will impact the Standard of Living Equilibrium.
Thus compensating factor will need to come in - to bring it back to the Equilibrium - for eg. by Government effort or individual effort to boost income or earning in the 2nd Basket.
Individual effort will bring about household equilibrium, while Government effort will bring about national equilibrium.
--- Thinking aloud, wonder if any institution will like to take this suggestion up as a project -- e.g A*Star, NTU, NUS, SMU or other Universities.
Like · Reply · 1m
Fiona Linette
Interesting. Does this include foreigners who already have a capital with a nice job here in Singapore? I think it's better to focus solely on people here who have at least two generations worth. Then again it is just one survey. Personally, I'm going to need more evidence that shows similar numbers to verify.
Tan Jun Jie
imo median should be used in this case...average will only skew results to towards the high earners...This is so not true please.
Want to show all the nice nice side...for what?
Want to show all the nice nice side...for what?
Ronald Law
The problem with such surveys in Singapore is that we never consider culture. When we do such financial related surveys, we tend to report we are richer. We are afraid to let people know, we are actually not that well off. Yes SingStat did survey fairly across different income groups. But what was not considered and reported in this article were biasness that comes with survey. Biasness include types of jobs and age. Assuming that the income groups surveyed we're from a specific sector of economy that is doing well, then why bother reporting inaccuracies. They merely report numbers, which is not reliable without the social factors that can affect the reproting of such numbers. Interestingly, there are a lot of reports on how gloomy the economy is, and yet we earning more money? It just doesn't stick. Don't just report numbers, report with context. Without text, it's a con. Tang See kit, you can do better.
Bruce Kky
They must have included all the ministers' multi-million dollar salaries and bonuses, our part time mp $20k/mth allowances, ho ching's till-now unknown sum, etc...which will sure distort the actual numbers. Actual man on the street may not even reach their 1 month salary in his whole lifetime.
Kampret Man
Lol gahmen BS. Or probably true for those people whom gahmen policy benefits. The rich. We are not stupid to realise the rising COST and not standard of living (and dying apparently due to rising medical costs) will continue to widen the middle income and the rich. The rich gets richer, the moderate and poor gets poorer.
Singh Prem
Personally, i find this too incredible to believe. The ground feel is the very opposite. The hard truth is many are finding it hard to make ends meet. Employers are not giving pay raise of any significance, and jobs which locals can do even go to FTs. I come across FTs (Malaysians, in particular) who have been given employment passes in an insurance company but their monthly salary is $2800/- Why can't the jobs be given to our graduates at a starting pay of $3300/-? The situation is really bad on the ground for the poor, the lower income, and even the middle income.
Tan Kwong Moh
Retirees stay at home no job how to increase income? They have to face the rising cost of living. Don't just make people happy only....
Lawrence Seow
Just read the comments here and it looks like Singaporeans do not trust the survey released by the government. Why? It is obvious that the PAP has lost the trust of the public. They lack transparency, they redefine accountability, they push policies like POFMA in a hurry, they appoint a President who should be elected...they have lost touch with the ground. It's time for a change.
Rafe Sharif
My salary has been stagnant all these years and expenditure have been rising constantly. Which alternate Singapore households has these surveys been conducted?
