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Swiss cost of living in S$ terms

In Financial competency, Financial planning on 04/06/2014 at 5:39 am

A few weeks ago the BBC published

Swiss monthly living costs

  • One-bed city centre flat: 1,800 francs                                     S$2520
  • Utilities: 100-200 francs                                                              S$140- 280
  • Health insurance: 300-400 francs                                           S$420- 560
  • Public transport: 50-70 francs                                                    S$70- 98
  • Restaurant meal for two: 100-150 francs                               S$140- 210

(http://www.bbc.com/news/business-27459178)

As you can see I’ve put the S$ equivalent beside the Swiss amounts.

Now you have an idea of the Swiss cost of living. As to their wages, the median wage there is the equivalent of S$8574 a momth.  Ours is S$4358 or S$2789 after deducting CPF.

 

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  1. Haha .. here’s my subjective take :
    One-bed CITY CENTRE flat, S$2,500? Nah, its at least $3k here. $2.5k gets you a 3-room HDB in matured estates.
    Health insurance, around S$500? Not bad. Its more here, depending on your age. We kinda don’t feel it because the premium is paid by Medisave (still, that’s our money too, right?)
    Restaurant meal for two, $140-$200? Hard to compare. Although I’ve heard many friends (and I echo the same) say that its cheaper to eat in restaurants overseas in First World countries (USA, NYC, Paris, Tokyo, HK) than in Singapore, especially in recent years. Effects of REITS?

    Public transport, $70-$90. Well, our unlimited travel adult pass here is $120. So even if you stick only with MRT or bus, its higher. And of course, if you take cabs, then its higher .. but then Ministers will blame you and say its because you chose to take taxi when you can walk/ take bus/ take MRT.

    So overall, not too bad. Going into GE2016 (or as you believe it, GE2015), in many ways, we’ve achieved, or surpassed, the Swiss COST of living.

    Unfortunately, our median salary is only half the Swiss.

    So maybe Inderjit was right, “Singapore has prospered, but Singaporeans have not”

    But then again, the Govt disputed that it even promised us Swiss standard of living in the first place. They kinda brushed it aside and said, they really meant “per capita”. Just like flip-flopping is not flip-flopping but “shift”. Or “ponding”.

  2. This is nothing new. Many of my peers have realised that we are in a much more difficult position than our parents’ generation due to income not keeping pace with rising costs.

    The more galling thing that the govt has done little in mitigating non-tradeable rises in housing, utilities, etc. In fact, they have sanctioned it.

    If anything, at the end of the day, it is more likely that the PAP incumbent will suffer electoral defeat as people realise we should be doing much better.

  3. Latest:Income, Health, and Well-Being Around the World: Evidence From the Gallup World Poll Monday, June 02, 2014
    Life Satisfaction and Income: Evidence From the World Poll
    Per Capita Income and Life Satisfaction
    A global map of average life satisfaction levels by country based on the Gallup World Poll data looks much the same as an income map of the world: the inhabitants of North America, Western Europe, Japan, Australasia, and Saudi Arabia are both rich and well-satisfied with their lives, with average national life satisfaction scores in the range of 7.5 to 8.5.
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  4. Well, I’m just glad that 60% of Singaporeans and 100% of FT continues to support PAP. Can’t imagine what’d happened to Singapore if PAP is voted out.

  5. I live in a Swiss city. A supermarket cashier will have a salary of 4000chf. A bus driver takes about 6000chf. An IT person, 8-10kchf. A banker or financial specialist 15-30k plus bonus (5 figures or 6). A swiss doctor 15-20kchf. All mentioned are monthly income. Minimum income is about 22chf per hour.
    So that is the Swiss income.
    A single person in switzerland can live luxuriously with a 8-10kchf income. Double that with spouse / partner working. So it is not apples to apples. Some selected Singaporeans do make similar salary compared to Swiss. But they have hawker centers and they have cheap supermarkets and fresh fish. But then a Porsche Sportster S cost 100kchf new here and a Toyota 2.0L costs 40kchf new here.

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