Living and Working in Singapore: A Cost Breakdown
Hi everyone, I'm Li Wang, and I've been living and working in Singapore for almost three years. People often ask me about the cost of living here. So, today I'll share my monthly expenses and some tips for saving money in Singapore, hopefully helpful for those considering working here.
Housing Expenses
Rent
Rent is a significant expense. I'm lucky to share an older HDB (Housing Development Board) flat, which costs about RM1,000 per person, totaling RM2,000 for us two. I consider this a reasonable price. The downsides are no air conditioning and a 10-minute walk to the MRT station, though there's a bus stop nearby that's still a 5-minute walk. The main advantage is its central location in Singapore.
Other friends have different experiences. One friend in Ang Mo Kio pays RM800 per month for a single room. Another in Pioneer shares a place but still pays RM1500 per month.
Food Expenses
Daily Meals
For breakfast, I usually have simple bread or steamed buns, costing no more than RM2. Lunch is typically at the food court near my workplace in an industrial area. Vegetable rice costs around RM4 to RM6, and coffee is about RM1. The company often provides free coffee, which helps save money.
Dinner is also usually at a food court, costing around RM4 to RM6. Food courts in Singapore are generally affordable. Malls can be more expensive, with meals costing RM8 to RM15.
Weekend and Special Meals
On weekends, if I stay in Singapore, I might have one or two meals out. I enjoy Korean food or spicy soup, which costs around RM20 per person, depending on the order. Overall, I estimate about RM500 per month for food.
Cooking
Cooking can be a more refined and potentially cheaper option, especially if you're with more than two people. However, it requires having access to a kitchen and cooking utensils, which could add to the initial cost. Currently, I don't cook regularly due to convenience.
Transportation Expenses
Public Transport
Singapore has a convenient public transportation system. Taking the bus or MRT is the most economical option. I spend around RM100 to RM120 per month on transportation because my company is relatively far away. If your workplace is closer to your residence, you could save more.
Early Bird Discount
My new company is far away so, I have to go out an hour and a half early. I didn't think that the working day was from Monday to Friday morning. If you enter the station before 7.45am, you can deduct a car fare of $53. It was originally about $2.3, but when it was deducted, it was $1.8.
Transportation Costs and Tips
Taking Grab would cost RM20-RM30 each way, while I pay around RM2 using public transport. I recently discovered that entering the MRT station before 7:45 AM on weekdays offers a discount, reducing my fare from $2.3 to $1.8. Even with the morning discount, the return trip costs over RM4. Weekends might involve additional transportation for leisure or trips back to Malaysia. I have a friend whose transport costs in Singapore are around RM75, and a bus to Malaysia is around RM250 per month. In total, it will be around $150.
Mobile Phone and Entertainment Expenses
Mobile and Subscriptions
My mobile phone plan with Singtel Coupad costs RM15 per month, which I find sufficient. Other brands might offer cheaper plans. I also have subscriptions like Spotify and enjoy cafe hopping.
Entertainment and Socializing
Including coffee and socializing with friends, I spend around RM150 to RM200 per month on entertainment. I put in around RM150-200.
Other Expenses
Personal Care and Shopping
I allocate around RM200 for shopping, clothing, and miscellaneous expenses. For daily necessities and skincare products, I usually purchase them in Malaysia and bring them to Singapore to save money.
Coffee
I drink two to three cups of coffee every day. So to save money, I grind my own coffee. So I also buy coffee from the shop in Malaysia and send it to my house.
Total Monthly Expenses
My total monthly expenses in Singapore are around RM1,000, excluding household expenses, car, mortgage, and insurance.
Saving Money Tips
Here are some tips to save money in Singapore:
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Housing: Live further from the city center or choose a place slightly further from the MRT station. Forego air conditioning to save on electricity.
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Food: Cook your own meals, especially if you're with more than two people.
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Transportation: Utilize public transport (MRT or bus). Avoid taxis or book them in advance.
Final Thoughts
While the cost of living in Singapore is higher than in Malaysia, it's manageable with a stable income and conscious spending habits. Even with a salary of RM3,000, it's possible to save RM100,000 to RM1,000 a month.
Ultimately, the best approach depends on your individual lifestyle and priorities. Some may prioritize entertainment and travel, while others may focus on saving money.
Is life in Singapore expensive? Let me know your thoughts in the comments!