Prosperous island nation though it may be, it seems that Singapore’s citizens are unable to cope with unexpected financial expenses due to poor saving habits. A report by Credit Lyonnais Securities Asia (CLSA) revealed that 30% of Singaporean households save less than 10% of their incomes, while a shocking 14% have no savings at all. While it is not unexpected that 73% of low-income households are saving less than 10% of their monthly income, a surprising find was the 37% of the top-income bracket that is essentially spending everything they earn.
