SINGAPORE: At 25 years old, one Singaporean has started to become anxious about the fact that he still has no savings at his age, unlike most of his peers.

On Monday (Jun 1), he posted anonymously on an online forum called ‘r/singaporefi’, where users regularly discuss their savings, investments, and FIRE (Financial Independence, Retire Early) journeys.

Prefacing his post, the man admitted, “I know I am going to get thrashed in here, but I really feel lost now and need help, and I think it’s better to get some insights from here. I am 25 years old, currently in NS. Reached my one-year mark and will ORD in May next year.”

He went on to explain that his monthly allowance “ranges around S$950,” an amount some might consider sufficient for a young serviceman.

However, the reality, he said, is that he has been living paycheck to paycheck for quite some time now.

He confessed, “I have no savings at all. I just can’t have the proper discipline or control to save money. I have tried to have different categories like sinking funds, essential funds, savings, and fun money, but eventually I just take the money from there.”

Breaking down his spending, he wrote that he has been paying “his own bills” and allocating more than S$100 to his Grab PayLater account, which he admitted has become a problem.

“I know I should stop using Grab PayLater as…I could save or use [the money] for something else.”

He has also been giving money to a friend who claims to be struggling financially. “He says he’s broke, and me being me, I would give him money even when I have little to none. I know I should stop this, but I just can’t say no to him.”

At home, financial pressures also continue to weigh heavily on him.

He explained that his mother is currently the sole income earner in the family, bringing home roughly S$2,000 a month, while his father remains unemployed.

Because household expenses are often tight, he regularly contributes part of his allowance to support the family.

“My father, he is just useless; he doesn’t even work at all. It’s just the 3 of us, but still, expenses can be quite tight, and he doesn’t even lend a hand with it.”

Even when he manages to put money aside, those savings often do not stay untouched for long. He shared that his mother occasionally asks him for financial help, forcing him to dip into whatever amount he has managed to set aside.

At present, the man has only S$50 left in his bank account, which he said “needs to survive on” until his next payday on Jun 11.

Feeling overwhelmed by his situation, he said he wants to make meaningful changes to his financial habits starting this month.

“I just feel so lost now,” he lamented. “I really want to try to do things differently from Jun onwards. So if you guys have any advice, please tell me. I am willing to change my habits and at least have decent savings by the end of the year, since I am already 25 and seeing how people are having savings and I have nothing makes me feel damn embarrassed.”

“Get smarter and wiser, please.”

In the discussion thread, many Singaporean Redditors quickly zeroed in on what they felt was the biggest issue holding him back, which was his habit of constantly giving money away even when he clearly could not afford it.

One user told him, “Offer physical help and emotional support. You are not in a position where you can help others financially. Real friends should understand that. If you are drowning yourself, you are unable to save anyone else.”

Another said, “I don’t think it’s your habits. You don’t earn much, but there are too many people asking you for money. Draw firm boundaries—including with your parents. As for that friend, say bye and choose better friends.”

Others in the thread offered practical money management advice. One user suggested starting with a basic but strict budget system.

They wrote, “Create a budget. Track your expenses using an app. I use Money Manager. If the allotted budget is used up, stop spending from that category until your next payday. The first few months would be trial and error. Don’t be too hard on yourself if you are not able to stick to your budget.”

Another commented, “Love yourself and live for yourself and your mom, first of all. Get smarter and wiser, please. Borrow self-help or finance books from the library. Take public transport and learn to cook, or be wise about where to spend money for food. Work in F&B in the future after ORD, they provide a meal allowance or food at work at least. If not, get a job and work, take public transport, and eat and drink wisely.”

A third added, “Get a bank account with a bank that has few branches, like Bank of China. Decline a card or cut up any they give you. Don’t download the app. That means the only way to withdraw cash is via physically going down to the bank branch. This greatly removes the convenience factor. Put a set sum aside each month into it. Can be $300, for instance. And stop paying a sponge of a friend if you yourself are nearly dry. If he is a real friend, he’ll understand and stop sponging off you.”

In other news, a woman has gone online to share how upset she feels over the possibility that her family’s domestic helper could end up living in a tiny utility room when they relocate to a new house.

Sharing her concerns online, she explained that the helper currently has a pretty decent setup. Since the woman’s sister already moved out, the helper has been staying alone in a proper room with her own attached toilet.

Read more: ‘I feel quite stressed’: Singapore woman worried helper may have to sleep in cramped utility room

This article (‘I just feel so lost’: 25 y/o Singaporean seeks advice on how to turn his finances around) first appeared on The Independent Singapore News.

SINGAPORE: Has seeing others flaunt their savings, property purchases, and investment successes online left many young adults questioning their own progress? 

Recently, a 29-year-old Singaporean who has less than S$30,000 in savings took to Reddit to ask fellow locals whether her financial situation is actually normal, or whether social media has simply distorted her perception of what financial success should look like.

In her post on the r/askSingapore subreddit on Friday (Apr 29), she shared that she’s been having doubts about whether her savings “are considered very little or fairly normal” because she frequently comes across conversations about goals such as saving S$100,000 by 30, buying a first condo by 35, or achieving FIRE, short for Financial Independence, Retire Early, by 40.

She also noted that a friend of hers, a 28-year-old male, has even fewer savings than she does.

“I was chatting with my friend (28M) yesterday about finances, and he mentioned he basically has no savings at all (<$2k).”

“Feels like online standards can sometimes be quite disconnected from reality, or perhaps I just need to work harder.”

Wanting a reality check from actual humans instead of finance influencers with suspiciously perfect spreadsheets, she asked fellow Singaporeans a simple question: how much do people in their 20s and around 30 realistically have saved these days?

She also invited others to share details like their age range, rough savings or investments, whether CPF is included, and what they personally consider “normal” financially in Singapore today.

“Everyone’s timeline is different.”

In the comments, many Singaporean Redditors told the woman that comparing her finances with those of others was neither particularly useful nor healthy.

As the saying goes, comparison is the thief of joy.

One commenter wrote, “Honestly, I think you’re doing ok. Comparison online can get quite skewed because people usually only share their best numbers. Having close to S$30k at 29 is already better than many people, especially with Singapore’s cost of living now. Don’t stress too much about those ‘$100k by 30’ milestones… Everyone’s timeline is different.”

Another commented, “Most people in their late 20s are still recovering from uni, NS delay, weddings, BTO planning, lifestyle inflation, or just plain old vanilla inflation. Having emergency savings at all already puts you ahead of many, if not most.”

A third added, “If you really want to compare, then ask your peers at work or friends of similar age/industry. Reddit is very diverse, and people lie every now and then.”

Meanwhile, others decided to share their own financial situations to give the woman a better sense of what life looks like outside of social media success stories.

One user shared, “I am 32. I have about S$8k in savings left. The remainder went into starting my business, which isn’t yet at a state of earning money back. It is essentially my unpaid full-time job until it does. All these other people in the thread citing big numbers look like Martians from another world to me.”

Another wrote, “I am in my 50s with less than S$1000 in savings.”

A third user admitted, “Mid 30s with about $3k in savings. After paying bills, I’d usually have around $1k+ left in my bank account to last until the next payday.”/TISG

Read also: Singaporeans weigh in on hawker centre first dates: ‘Sweating like mad’ isn’t romantic

This article (‘Am I doing badly?’ Singaporean woman with under S$30k savings seeks reality check) first appeared on The Independent Singapore News.

SINGAPORE: On paper, the life of a 29-year-old finance professional might look like a clear success story. He has a stable job in the Central Business District, earns about S$5,500 a month, and has built up roughly S$400,000 in savings and investments over the years through trading US stocks.

But in a post shared on a local forum on Thursday (Jun 4), he confessed that his life has started to feel rather “meaningless” and “sad” as his job no longer fulfills him.

“Every day, I seem to be stuck in a loop where I struggle to wake up because I stayed up late till 1 a.m. the previous night, sit on the train to work like a zombie to the CBD, and do my job.”

“My job has pretty standard working hours, no OT, and is not extremely stressful but not enjoyable either. I mostly fix problems that pop up and also do tedious work that requires me to be meticulous. I feel mentally drained by the end of the day. After work, I wander around aimlessly. I reach home late at night, check my US stocks, and sleep at around 12 or 1 a.m. ”

Over time, he said, the routine has begun to wear him down.

The days seem to blur into one another, and he feels as though he is trapped in a cycle that never really changes.

His weekends, he added, are not much different either. He admitted that he mostly stays home and sleeps, completely disinterested in going out or taking part in activities.

As for his personal life, the man revealed that he has never had a girlfriend despite making efforts over the years. He has tried dating apps, attended social gatherings, and taken part in sports and hobbies in hopes of meeting someone, but none of those attempts have led to a meaningful relationship.

As he watches the years pass, he feels increasingly aware of how quiet his life has become.

With no partner, no family of his own, and no clear passion outside work and investing, he said he often wonders what exactly he is working towards.

“Am I being ungrateful in this situation or are my woes actually valid?” he asked others. “I have no partner, no dates, no marriage, no housing in the future to look forward to, hence no motivation to grind day-in, day-out for a salary.”

He also shared, “Lately, the thoughts of quitting my job seem to be intensifying, because I felt that the salary is so little compared to my investment gains. I keep thinking of wanting to start a business or do something more freelance, independent, and with more freedom. I also tried to apply to other jobs, hoping that a change in environment or increase in salary may make me happier, but so far I have not gotten any successful interviews.”

“Is life only about net worth?”

From the way the post author described his daily routine and emotions, many Singaporean Redditors speculated he might be experiencing burnout or even depression.

One individual said, “Your life has become monotonous, which is why you crave excitement but are too burnt out to actually seek it. Hence, you subconsciously want to quit to change your lifestyle drastically. Don’t. A well-paying boring job is actually the best job, especially if you are investing on the side.”

Another wrote, “Sounds like you are burnt out. Don’t ever self-label yourself ‘ungrateful’ if you have negative feelings that show strongly and persistently. It’s your body’s way of telling yourself that you have unmet needs.”

Meanwhile, some encouraged him to find ways to break out of the cycle and start doing things again, even if it feels difficult at first. They suggested spending his free time on activities he genuinely enjoys so that he would have something to look forward to outside of work.

One commenter pointed out, “If all you do is work and trade and not do something you genuinely like during the week after work hours… obviously you would feel this way. Is life only about net worth? Have you tried showing up regularly for any hobby (hopefully social) 2-3 times a week? Make new friends of both genders?”

Another added that meditation might be worth trying as well. “Give mindfulness meditation a try, can check out the 10-minute guided version by Sam Harris. Completely secular and no frills.”

In other news, a furious online rant about poor hygiene on Singapore’s public transport system has gone viral after one fed-up commuter blasted fellow passengers for allegedly skipping their morning showers before squeezing onto packed MRT trains.

Posting on a local Reddit forum, the woman said, “I have had it with taking the MRT every day and smelling all the stanky [people] who don’t shower in the morning, sia. Like, I don’t get it. Why is it so hard to spend just 5-10 minutes showering?”

Read more: ‘Why is it so hard for everyone to shower in the morning?’: MRT commuter breaks down over poor hygiene on public transport

This article (Singapore man with S$400K portfolio says he’s struggling to find purpose) first appeared on The Independent Singapore News.

SINGAPORE: After watching his parents work hard for decades on modest incomes, a 25-year-old Singaporean is now searching for ways to help them enjoy a more secure retirement without jeopardising his own financial future.

Posting on Reddit’s r/singaporefi forum, the young man revealed that his parents, both in their 60s, are still working despite having limited retirement savings. He shared that his mother has accumulated very little CPF, while his father has yet to reach the Full Retirement Sum.

According to him, his father spent most of his working life as a driver and rarely earned more than a modest salary.

“The most I heard he earned was S$2,500, which is right now. From the moment I was born until I was 16, he was only earning S$800 to S$1,500,” he said.

On the other hand, his mother mostly stayed at home to care for the family and only took on occasional odd jobs when needed, such as working in coffee shops or helping out in small retail stores.

Growing up, he said money was always tight and the family often lived from one paycheck to the next.

Despite that, his parents still managed to support him all the way through his polytechnic years.

After graduating, he took over paying his own expenses and university fees and eventually established a career in the corporate tech industry.

Now that he has started building his own financial future, he finds himself facing a difficult question: what can he realistically do to help his parents without compromising his own goals?

“They are still working; sadly and honestly, I feel very bad about it. I can’t help much, as I need to care about my future too, so I can’t give the majority of my earnings,” he wrote.

“I invest S$2-3k a month into ETFs (and sometimes random big 7 stocks). So the amount I have left after that and saving is not significant. I’m also saving up for a house with my partner, so I can’t single-handedly do everything as a retirement plan.”

Wanting to make informed decisions rather than simply handing over money, he asked fellow Redditors whether investing on his parents’ behalf could help improve their retirement prospects. Specifically, he wondered if he should work with a financial adviser or build a dedicated ETF portfolio for them himself.

“I hope to get some opinions here!” he added.

“Work on yourself and earn more.”

The post quickly drew numerous responses from Singaporean Redditors.

One commenter pointed out that, unfortunately, in situations like these, the child often becomes “the retirement plan.”

“You are their retirement plan. Instead of asking them to invest, invest in yourself and give them a monthly allowance,” they wrote.

“You need to make sure you are able to fund their retirement expenses once they stop working. Looking on the bright side, they are probably content with a very basic retirement life and won’t need a lot from you.”

Another agreed with this view, saying, “Work on yourself and earn more. Put aside some money for their older age, like for medical expenses, or bring them for meals or short trips or whatever they like.”

A third user, meanwhile, suggested a practical alternative that would not require the son to shoulder the full burden of saving for his parents.

They explained, “If they have a house, they can downgrade to perhaps a 2-room flexi with a short lease and top up CPF life. I would say the monthly payment from CPF life will be enough to get by if they continue living simply.” 

“You can contribute cash monthly to them to ease their burdens or build up an emergency fund for them that is under your control. Since they do not have much savings, most of their assets are locked in the house. Unlock that.”

A fourth echoed this suggestion, writing,  “Since your parents are in their 60s, do consider maximising` CPF life to ensure your parents have a steady monthly stream of income.”

In other news, a domestic helper has claimed online that her new employer expects her to pay for all her own daily essentials, including meals and toiletries, out of her salary.

In an anonymous post shared on Tuesday (May 12) in the Facebook group “SINGAPORE TRANSFER (No Fees/SD), DIRECT HIRE & NEW HELPER,” the helper said she has been working in Singapore for three years and was recently transferred to a new employer after the elderly grandmother she cared for passed away.

Read more: ‘I buy my own food and toiletries’: Maid says employer refuses to provide basic necessities

This article (‘They are still working in their 60s’: Singaporean seeks retirement advice for parents) first appeared on The Independent Singapore News.

Spring sales have already been aggressive this year, but Memorial Day camera deals take things even further. Across cameras, lenses, memory cards, bags, and tripods, we’re seeing discounts that range from useful everyday savings to genuinely massive price drops on premium gear and pro-level kits.

[Read More]

SINGAPORE: Singapore’s Central Provident Fund (CPF) interest rates will remain unchanged from July to September 2026, offering some stability for members still dealing with high living costs and long-term retirement worries.

According to the Central Provident Fund and Housing and Development Board (HDB), the Ordinary Account (OA) interest rate will remain at 2.5% per year, while the Special, MediSave, and Retirement Accounts (SMRA) will continue to earn 4% annually. The HDB concessionary housing loan rate will also remain at 2.6%. The announcement was made on May 26 by CPF and HDB in a joint statement.

For many Singaporeans, the quarterly CPF interest update is closely tied to predictability. Stable savings rates mean housing loan repayments aren’t rising again, at least for now.

Both CPF account groups remain protected by their minimum guaranteed rates

The SMRA rate is tied to the 12-month average yield of 10-year Singapore Government Securities plus 1%. CPF said the pegged rate still fell below the 4% floor rate, which is why members will continue receiving 4%.

The OA rate is based on the three-month average interest rates of major local banks. That computed rate also stayed below the 2.5% floor. This means both CPF account groups remain protected by their minimum guaranteed rates instead of floating lower with market conditions. The HDB concessionary loan rate, which is fixed at 0.1% above the OA rate, will therefore remain at 2.6%.

Older members continue getting extra bonus interest support

CPF members below 55 years old will still receive an extra 1% interest on the first S$60,000 of combined CPF balances, although OA balances are capped at S$20,000 for this bonus interest.

Members aged 55 and above receive stronger support. They earn an extra 2% on the first S$30,000 of combined balances, plus another 1% on the next S$30,000. The extra interest earned from OA balances goes into either the Special Account or the Retirement Account.

CPF members above 55 who are on the CPF LIFE scheme will also continue earning the extra interest on balances used for CPF LIFE, according to CPF.

The unchanged rates are important to households in managing expenses

The unchanged rates are important to households juggling mortgages, retirement planning and rising daily expenses.

Singapore’s interest rate environment has changed several times over the past few years as global inflation and central bank policies pushed borrowing costs higher. Against that backdrop, keeping the HDB concessionary loan rate unchanged offers some breathing room for flat owners relying on government housing loans.

Retirement adequacy also remains a major concern among older Singaporeans, especially with longer life expectancy and higher healthcare costs. The continued 4% floor for retirement-related CPF accounts gives savers a relatively stable base compared with regular bank savings accounts.

At the same time, the numbers also show how conservative CPF’s framework remains. OA savings still grow more slowly than inflation in some periods, which is why many Singaporeans continue to look for ways to stretch their retirement savings through investments, side income, or delayed retirement.

Stability may not excite people, but it helps with future planning

CPF updates rarely get dramatic reactions online unless rates suddenly jump or fall. Still, steady rates can be useful in their own way.

People buying flats, planning retirement withdrawals or deciding whether to top up CPF accounts tend to value predictability over surprises.

Financial planning also becomes much harder when interest rates swing wildly every few months, but for now, Singaporeans heading into the second half of 2026 at least know one thing will stay: their CPF interest rates.

More details on interest calculations are available through CPF’s official information channels.

This article (SG Central Provident Fund interest rates to remain unchanged for OA and SMA accounts from July to Sept 2026) first appeared on The Independent Singapore News.