Channel News Asia profile this family in their Outlier program. This family is really a good case study on a lot of levels
Its about this family with 5 children, not very common in Singapore’s family nucleus nowadays:
- One sole bread winner earning 8-9k
- Saves 20% of his income which is around 1.6k
- Doesn’t own a car
- Preaches savings for the kids, with parents matching the children if they decide to save their pocket money
The fact that the common thinking is that if you are married, with the congested public transport, you have to have a car and that many folks earning 3-4k will channel any extra cash they have to a car makes me think their thought process is also independent.
If you are earning so much, and have always been surrounded by a big family you would give in to the temptation of saving that hassle and just get a car.
Really like the part of them inculcating the right thoughts on money to their kids.
My friend tells me this looks like a government propaganda clip. Do you guys feel that way?
- CPF Raised SA, MA and RA Interest to 4.08% p.a. Basic Healthcare Sum Rises to $71,500. - December 6, 2023
- Singapore Savings Bonds SSB January 2024 Yield Plunges to 3.07% (SBJAN24 GX24010F) - December 1, 2023
- New 6-Month Singapore T-Bill Yield in Early-December 2023 Should be Slightly Higher at 3.85% (for the Singaporean Savers) - November 30, 2023