S'poreans less confident of getting by without main source of income
By Dominique Loh, Channel NewsAsia Posted: 09 December 2008 1756 hrs
SINGAPORE: Singaporeans these days are less confident of surviving without their main source of income, according to a recent survey conducted by American International Assurance (AIA) Company.
The AIA survey showed that only 19 per cent of interviewees said they could get by for more than two years without a primary source of income – down from 27 per cent a year before.
The survey was conducted between June and July this year, so the results and findings did not take into account the recent episode of financial products linked to failed US investment bank Lehman Brothers.
It also did not factor in the global financial developments in the past few months.
The survey suggested that Singaporeans are now more aware that they cannot cope without an income. Due to inflation, a person's savings for future plans may only last for less than a year.
One Singaporean, who was asked if he has saved enough to get by without an income, said: "I wouldn't know if I have prepared enough as I go on. I don't know how long I'll live."
"Even if I get a big pay check, I don't go out and spend. I'm like a squirrel – I like to save my money, watch the number grow and not spend it," another added.
"I've taken away my cable TV, and I've started shifting to NTUC for grocery purchases. I'm going to sell my car. It's going to be tough times," another responded.
More than 1,200 people over 18 years old were surveyed.
-http://www.channelnewsasia.com/stories/singaporelocalnews/view/395161/1/.html
- wong chee tat :)
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