Monday, October 24, 2011

Individuals Partly Responsible: Insufficient savings put the frowns on S'poreans

In a consumerism driven & keeping up with the joneses society where too many people spend money they haven't earned, to buy things they don't want, to impress people they don't like, the results of the survey is hardly surprising.

The mushroom like growth of moneylenders till the govt needs to control the legality of the business is written in plain view for all to see. As if that isn't enough the 'locusts swarm filled shopping malls' is endemic of the consume, consume, consume culture.

People who spend money wantonly are people i avoid being close friends with to avoid being contaminated by their foolish money habits & mindset. Choose your friends wisely & avoid peer pressure as much as possible to do unwise stuff. At times it is better to be lonely than to be with bad company. It seems frugal folks like me are in the minority in S'pore.

Singaporeans rate their personal savings as the area they are most unhappy with, according to a study called "The Happiness Report".

Conducted by global communications firm, Grey Group, the study found that nearly half of the respondents reported a lack of sufficient savings in the last 6 months.

Second area that respondents said they were least happy with was personal expenditure over the last half year, garnering 40.5% of responses.

Next 3 areas that made Singaporeans unhappy were their confidence in the economy (27%), job satisfaction (23%), and work-life balance (21%).

The study was conducted in June this year with 200 respondents aged 18 to over 60.

The study also revealed the top 5 things that Singaporeans were most happy about.

Area of residence topped the happiness index, with about 78% ranking Singapore as the best place to stay in the world.

Close family ties ranked second (74%), spirituality came in third, while social support networks took 4th spot and personal time rounded off the top 5 on the happiness index.

The study also discovered that baby boomers (45-49 years old) were the happiest people with an overall net happiness score of 11.4%, 4.6 percentage points higher than the young adult segment (18-29 years old).

It also found that men were happier than women at the workplace, with 46.08% of men found to be happy at their jobs as compared to 37.75% for women.

Shirley Ang, an account manager, said: "In schools these days, it's very competitive, so everyone's competing with each other, challenging each other.

"Back during the days of baby boomers and all, it was probably an easier life in a way. Hard in terms of earning money, but easier in terms of (the amount of) stress they are feeling from society."

No comments:

Post a Comment