Home      Introduction      Latest Bank Rates      Interest Calculator     

Consent To Cookie Use

With respect to EU Cookie Law, we use cookies on our site. Your continued use of our site indicates your complete acceptance of its use.

Jul 24, 2009

Singaporeans Are Saving More

Singaporeans Are Saving More

High-income Singaporeans (those earning S$7000 monthly) are saving more.

These Singaporeans, besides saving more, are also investing less with the precipitous decline of the global economy according to a Nielsen Company poll.

The study showed that about four in 10 (39%) Singaporeans were saving more of their hard-earned money before the crisis.

But after the collapse of the economy, about half (52%) are saving most of their funds into savings accounts.

A smaller proportion of Singaporeans from this group are putting their money into investments (-7%) and insurance (-6%).

This survey on Singaporeans saving more was conducted in March 2009 to find out how high-income wage earners dispose cash before and after the global economic crisis.

921 Singaporeans aged 18 years and above and earning more than S$7,000 a month were polled.

Are you also one of these Singaporeans saving more during this economic recession?

No comments:

Popular Posts

6% p.a. Singapore Retirement Savings Account Rates
----------------------------------------------------
Update: New OCBC 1-Year FD Rates
----------------------------------------------------
UOB Savings Promotion 2017
----------------------------------------------------
Invest in 2.75% Singapore Government Bonds
----------------------------------------------------
Safest Singapore Fixed Deposit Rate
----------------------------------------------------
BOC Fixed Deposit Promotion Rates
----------------------------------------------------
No hurdle 1.35% iSavings Account
----------------------------------------------------
Maybank iSavvy Savings Rate Update June-Aug 2017
----------------------------------------------------
New SCB Fixed Deposit Update June 2017