“Thousands of needy residents receive hongbao, gift packs in charity drives ahead of CNY” (ST, Jan 7)
“More than 8,500 bags of food and drinks will be given to 6,000 families and 2,500 seniors through the annual Fu Dai event, which worked with 44 partners to get donations and volunteers to pack the festive bags for distribution to those in need of support.”
Comment:
There are 30,809 & 31,151 HDB “rental” 1-room & 2-room flats, respectively,
& 255 & 28,996 HDB “sold” 1-room & 2-room flats, respectively
https://www20.hdb.gov.sg/……/ebooks/key-statistics.pdf
As there are about 1.39m resident households in 2021 – does it mean that the number in the 1st – 20th percentile, may be about 278,000 households (20% x 1.39m)?
Household expenditure of those who were in the 1st – 20th income percentile living in 1/2-room – $1,098 (in 2013, latest data, last updated Aug 1, 2016?) vs their income of $1,220 (in 2013, latest data, last updated Aug 1, 2016?)
https://data.gov.sg/……/average-monthly-household……
https://data.gov.sg/……/average-monthly-household……
However, since the income is including employer CPF – the typical net take-home pay may be about $834 (less CPF)
So, their expenditure may actually exceed their take-home pay by about 32% ($1,098 divided by $834)
Similarly, for HDB 3-room – $1,598 expenditure (1st to 20th Income quintile) vs $1,700 income (1st to 20th Income quintile) = expenditure may actually exceed their take-home pay by about 38% ($1,598 divided by $1,162)
For HDB 4-room – $2,667 expenditure (1st to 20th Income quintile) vs $2,697 income
(1st to 20th Income quintile) = expenditure may actually exceed their take-home pay by about 45% ($2,667 divided by $1,844)
For HDB 5-room and executive flats – $3,132 expenditure (1st to 20th Income quintile)
vs $2,601 income (1st to 20th Income quintile) = expenditure may actually exceed their take-home pay by about 76% ($3,132 divided by $1,778)
The above may mean that most of the households in the 1st to 20th Income quintile, regardless of the type of HDB flat, may not have much if any money left for savings
Does it mean that about 278,000 households or about 875,700 people (875,000 x 3.15 average household size) may be struggling to make ends meet, or have hardly any money left to save?
https://www.singstat.gov.sg/……/households/latest-data
(note: I do not have access to all the data)
