FED cut impact on rising costs
Rising costs
Singapore is indeed an expensive city. For most Singaporeans especially in the lower to middle income groups, the rising costs can be akinly felt in our daily essential needs like food, groceries and transportation costs.
And in recent years due to escalating inflation, there is some spill over impact to foreigners and expatriates working in Singapore opting to rent accomodation in outside/rest of central regions which are comparatively less costly than their preferred central areas.
THAT is the extent of rising living costs in Singapore, its impact felt by locals and somewhat by foreigners alike.
Altered spending habits and lifestyle changes
For big families, buying in bulks can help to lower the cost of daily necessities. By consolidating purchases, we can also get better deals and discounts (be it shop voucher, platform voucher or bank card rebates) from online shopping platforms.
Reduce food waste by planning our meals in moderation and avoid impulse buying. Any leftovers can be used for fried rice.
Reduce electricity bills by recycling or conserve water. Eg run full load on washing machine and the final rinse can be used to clean toilet floor.
Just like we spend time to research on quality stocks to hold long term, we can practise financial discipline in our spending and saving habits to combat rising cost.
Adopt healthier lifestyle
Instead of driving or taking public transport, we can consider taking walks to nearby destinations in the evenings when the weather has turned cooler. This helps to clock steps to garner points in various applications that can be exchanged for food vouchers etc. What better way to kill 4 birds with 1 stone - an improved physical fit and appearance, saving commute cost, doing your part to reduce carbon footprint and a more You- time.
With the FED cut finally here
My comment below wraps out my opinion. The market may be up with a 50bp cut.
Singapore is indeed an expensive city. For most Singaporeans especially in the lower to middle income groups, the rising costs can be akinly felt in our daily essential needs like food, groceries and transportation costs.
And in recent years due to escalating inflation, there is some spill over impact to foreigners and expatriates working in Singapore opting to rent accomodation in outside/rest of central regions which are comparatively less costly than their preferred central areas.
THAT is the extent of rising living costs in Singapore, its impact felt by locals and somewhat by foreigners alike.
Altered spending habits and lifestyle changes
For big families, buying in bulks can help to lower the cost of daily necessities. By consolidating purchases, we can also get better deals and discounts (be it shop voucher, platform voucher or bank card rebates) from online shopping platforms.
Reduce food waste by planning our meals in moderation and avoid impulse buying. Any leftovers can be used for fried rice.
Reduce electricity bills by recycling or conserve water. Eg run full load on washing machine and the final rinse can be used to clean toilet floor.
Just like we spend time to research on quality stocks to hold long term, we can practise financial discipline in our spending and saving habits to combat rising cost.
Adopt healthier lifestyle
Instead of driving or taking public transport, we can consider taking walks to nearby destinations in the evenings when the weather has turned cooler. This helps to clock steps to garner points in various applications that can be exchanged for food vouchers etc. What better way to kill 4 birds with 1 stone - an improved physical fit and appearance, saving commute cost, doing your part to reduce carbon footprint and a more You- time.
With the FED cut finally here
My comment below wraps out my opinion. The market may be up with a 50bp cut.
A balanced portfolio has always been my goal : mix of equities and SG reits, safe assets in high yield account, SSB and Tbills etc. To complement the above, my strategy is to sell cash secured put or covered call to generate extra returns, that hopefully will reduce the impact of rising costs, especially food costs that once up will never be down again.
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Iamwhoiamlah : Nice sharings and comments! 50bp is really a surprise from my perspective
Wonder OP Iamwhoiamlah : indeed! futures mkt took in 50bp n turns out so