Based on the exchange rate now, Singapore Dollar is 3 times of Malaysia Ringgit. Thus, a lot of Malaysian will choose to work in Singapore (SG) instead.
But, maybe working in Singapore is not as good as we think. A Malaysian netizen shared in XiaoHongShu that she has been working in Singapore for 3 years: Actually it’s not easy to save money even working in Singapore.
Her post read:
I’m a Malaysian who worked in Singapore, how much do i save?
To be honest, i have been working in Singapore for 3 years and only managed to save a 4 figures. Reason being working in Singapore will be the same like the rest of the people, the 1:3 exchange rate, easier to save money. But only when i started to work here and i realised it isn’t that easy.. I believe a lot of you will agreed with me.
I’m a University graduate, but due to some reason my company only applied a Work Permit (WP)for me. My pay is still ok but i don’t know why it’s hard to save.
Credit : curtin
Maybe a lot of you will be thinking i overspend. But, i only stay at home on weekend. A meal a day + work out, unless friends ask me out. But where is all my money gone?
My pay after deducted, rental – study loan – insurance- phone bills – family expenses – transportation – meals.
I will be left with $200 to $300 （Around RM615-RM925）for savings. That haven’t included the expenses that i go out with friends. Sometimes, i did overspend.
To be honest, everything is cheap in Singapore, except for the rental. My rental is $600（around RM1850）which doesn’t include the water and electricity bills. Because of the constant increment of water and electricity bills. My house owner increased the rental to $700 – $800 (around RM2160-RM2470).
So, at the end all my hard earned money gone. I will need to cut down my spending. However, it’s hard to cut on the essential one. So, i have to cut the family expenses that i send to my parents. I felt bad to them. But, i really have no choice.
Recently, my brother trying to start up his business in Malaysia. We will need a lot of cash flow. Thus, all my siblings need to work even harder! I’m also planning to sell some something online, please support me if you happened to read my post.
The details are as follow ( monthly expenses), i’m now making $2,000 +-（around RM6175）：
Room rental $700 – $800（around RM2160-RM2470）
Transportation $50（Ez Link，but not every month）（ around RM150）
Meals $100（around RM305）
Phone reload card $10（around RM30）
Spare $100 (expenses for entertainment / friends outing) （around RM305）
Malaysia bank account $500.01（The amount in the account including those to pay my study loan, because i auto debit from this account) （around RM1540）
▼（Picture for illustration purpose only）
Auto Debit ：
Study loan RM300
Family expenses RM300
Insurance RM300
Fixed deposit RM240
Malaysia mobile reload card RM33
The rest will be the savings, thank you!
I still have some savings! It’s just isn’t much and i’m kind of slow. I know money is not everything, but without money we can’t do anything too.
▼ Some also sharing the same experiences:
A: Rental is expensive, and hard to get a good job. Once salary is out and rental paid, even having a meal also need to think twice.
B: Me working here for 11 years, i don’t have much savings too. The thing is i don’t need to pay a rent but all my money gone. Until i worked in Shanghai only i managed to have some savings.
▼ “Only when i stayed in Malaysia and worked in Singapore i managed to have some savings. After the lockdown, i moved to Singapore, i don’t really have much savings.” and same goes to another netizen,” The only thing you learned working here is discipline, hardly do any savings here.”, ” The moment you step out from your house, you need to spend, hardly save.”, ” Things over here looks cheap but that’s only the surface. In Singapore, everything is about money. But you are university graduate and you shouldn’t got only a WP. Maybe you should look for other job.”
▼ ” In the case, you salary is not high then hardly save”
▼ One said her situation is more or less the same, so she decided to come back to Malaysia
▼ ” Same here, at least you have 4 figures savings, i only have 3 figures savings”
▼ Another netizen also worked 5 years and savings is less than 5k, he is blaming himself for going back home ( MY) too frequent and spend a lot of money.
▼ Most of them thought the rental is the one that cost a lot, and her debt is too high. Netizens suggested her to reduce the debts and also maybe share the room with other to reduce the cost on rental.
▼ However, also some netizens disagreed with her:
A: I save 4 figures just working a month in SG.
B: You have to start planning. I save 30k when i worked 3 years in SG. Or you spend on investment? or else you need you think whether to change your job.
有的网友则分享，他们在新加坡打工已经存了不少钱。
▼ ” i came to SG on March. I spend the most on rental ( 600) meal ( 700) . To date, i save 13k. I graduated few years back. I personally think work in KL is even harder to save, in SG at least, if you control, you will be able to save”
▼ Some netizen also gave her some suggestions:
A: lowered down the expenses for entertainment and meal. Then you can start investing.
B: Need to check your expenses per month again, to see which part to adjust then only you will know how much can you save.
C: As long as you work hard, i’m sure you can achieve what you want.
Info via：XiaoHongShu
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