According to Channelnewsasia:
SINGAPORE: The Consumer Price Index (CPI) for households increased by 7.1 per cent in the first half of 2008 compared with the same period last year.
Households in the lowest 20 per cent income group were the hardest hit, with inflation rate at 7.4 per cent.
The CPI for the middle 60 per cent and highest 20 per cent income groups went up by 6.9 per cent each.
The Department of Statistics say food, housing and transport and communication costs contributed to the significant increase in CPI for all income groups in the first half of 2008.
For the lowest 20 per cent income group, the higher inflation rate was due primarily to more expensive food, as well as higher housing costs and electricity tariffs.
- It’s time to smell the roses and cut cost! Reduce and reuse. I will be exploring ways to cut things like mobile bills, electricity usage, Internet usage, water and transportation. Food is still the killer for we Singaporeans love good food and usually it cost a bomb…time to cut down to the minimum for buffet and steamboats.
Any installments that need servicing? Loans to repay? Time to watch out for more such traps that usually look harmless when you first took the bait to buy that brand new car, house or overprice gadgets of yours.
Contracts signed for mobile phones, internet, television subscriptions and more are more debt traps. Stay clear if possible…
Credit cards & Line of credit are obvious no no if you cannot afford it…don’t use it. Future money are too risky for you to use and regret later.
Look out for more money saving tips in the future posts! If you have any ideas, do share with us in the comments! No ideas are too ridicules or too stupid to share.
I had tried putting some stones in the toilet flushing “catchment” tank to reduce water usage previously but didn’t monitor before and after quantity but probably negligible savings. Haha…but it’s an idea nevertheless!
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