Many Singaporeans have expressed concerns about the escalating cost of living in the face of rising inflation. However, a Malaysian woman living in Singapore since 2013 has a different viewpoint. According to her, Singapore’s cost of living is lower than Malaysia’s when considering the income-to-spending ratio. This article will delve into her perspective and examine the factors contributing to this unexpected conclusion.
The Malaysian woman, who prefers to remain unnamed, shared her experiences on the Humans of Kuala Lumpur (HOKL) Facebook page. Despite the popular notion that Malaysia offers cheaper food and shopping due to the favorable exchange rate, she advises considering the expenses “dollars-to-dollars, ringgit-to-ringgit, without conversion.” By doing so, one can easily afford international brands with their income in Singapore. While an item may appear cheaper in Malaysia, individuals earning in Malaysian Ringgit would need to earn three times as much as their Singaporean counterparts to afford a similar lifestyle.
Another reason the woman finds Singapore to be more cost-effective is the ability to save money. With a combined monthly income of S$6,000, she and her husband can save up to S$500 each month after deducting household expenses. The affordability of essential needs like food, groceries, and public transport also significantly contributes to their having disposable income for other purposes.
A S$90,000 grant from the Singaporean Government to purchase their Sengkang HDB flat considerably improved the couple’s financial situation. This grant and subsidies on water and electricity bills due to Covid-19 initiatives have significantly eased their financial burden. Additionally, the woman acknowledges Singapore’s overall stability and security, citing higher salaries, better job opportunities, improved work conditions, advanced healthcare, and safety as contributing factors.
Although there are advantages to living in Singapore, the woman also recognizes a few challenges. The fast-paced lifestyle and crowded public transportation system are among the downsides she experiences. She often longs for the laidback lifestyle in Malaysia, where she can casually spend time with friends at mamak stalls without prior planning. Furthermore, the apparent overtime culture in Singapore has also impacted her work-life balance compared to Malaysia’s more relaxed work culture.
While the difference in exchange rates may lead to the perception of a higher cost of living in Singapore, the income-to-spending ratio ultimately determines affordability. Based on her own experiences, the Malaysian woman contends that Singapore offers a more sustainable income-to-spending ratio despite specific challenges. Combining higher incomes, better job opportunities, and lower expenses in Singapore contributes to a more comfortable and stable lifestyle.
