Supporting Singaporeans with Budget 2024

AsiaOne

Meet two Singaporean families at different life stages — a couple who are first-time parents adjusting to parenthood and a retired couple enjoying their golden years.     Through their lens and perspectives, we follow their journeys as they reflect on 2024, adapting and managing the rising cost-of-living in their own ways and how the government benefits they have received in the past year from Budget 2024 provided support for their families.     This post is in partnership with Ministry of Finance.   Watch more: https://www.asiaone.com/video

Transcript

00:00I think that the ability to respond to circumstances is what we've been designed for.

00:12I survived with two pairs of jeans for 13 years.

00:15I think that with rising costs, it requires some serious thinking.

00:20Being a first-time parent is definitely challenging in terms of navigating the financial costs.

00:28It's been a rewarding journey.

00:46My name is Yusof. I'm 28 years old this year and I work as a Customer Service Associate.

00:51And I'm Nabilah. I'm 27 years old this year and I'm working as a teacher.

00:55So we met through online and after that, we got engaged within two months.

01:01We got married within less than a year.

01:19Hi, my name is Jimmy. I'm 69 and retired.

01:23Hi, I'm Doris. I'm 68 and retired too.

01:27We left Singapore in 1988.

01:29We stayed on until about 24 years.

01:32Then we returned home permanently.

01:35I initially decided to go because when you are 33

01:40and there's an opportunity to work overseas for a big company, it's a rare opportunity.

01:48Transitioning to become a husband and then become a father

01:52I realised that I needed more time and stability to have more family time.

01:57We just moved into this house this year and we're new parents.

02:01Paying our bills for the first time.

02:02So we didn't know how much to mentally prepare ourselves every month.

02:06So there were some months where we were taken aback that it was pretty expensive.

02:09Then he was telling me, the bill is so high.

02:11But then suddenly, we pay zero, like nothing.

02:15It really helps us a little bit because the first few months were very intense.

02:23Jimmy is now working in Singapore as a full-time employee.

02:26He has been working in Singapore for over 20 years.

02:29He has been working in Singapore for over 20 years.

02:32He has been working in Singapore for over 20 years.

02:36For those who work overseas for the long term,

02:38it impacts quite a fair bit on people who retire

02:42because many people do not have a CPF contribution.

02:47And it can be a bit scary because you are quite far from the minimum sum.

02:52In the past few years,

02:54we have seen a rise in the number of people who have a CPF contribution.

02:57In the past few years, we have seen a rise in the number of people who have a CPF contribution.

03:00In the past few years, we have seen a rise in the number of people who have a CPF contribution.

03:03In the past few years, we have seen a rise in the number of people who have a CPF contribution.

03:06In the past few years, we have seen a rise in the number of people who have a CPF contribution.

03:09In the past few years, we have seen a rise in the number of people who have a CPF contribution.

03:12In the past few years, we have seen a rise in the number of people who have a CPF contribution.

03:15In the past few years, we have seen a rise in the number of people who have a CPF contribution.

03:18In the past few years, we have seen a rise in the number of people who have a CPF contribution.

03:21In the past few years, we have seen a rise in the number of people who have a CPF contribution.

03:24In the past few years, we have seen a rise in the number of people who have a CPF contribution.

03:27In the past few years, we have seen a rise in the number of people who have a CPF contribution.

03:30In the past few years, we have seen a rise in the number of people who have a CPF contribution.

03:34So our main expenses,

03:37probably fairly true for other retirees,

03:40is actually food.

03:43I remember when I came back,

03:45$1.60 was one particular fast food coffee that I had.

03:48$1.60 was one particular fast food coffee that I had.

03:51Today, it's $3.15.

03:57Inflation is not just a Singapore thing.

04:00Globally, people are affected. How they respond to it is important.

04:03And there are so many other ways whereby we can handle it as individuals ourselves.

04:06And there are so many other ways whereby we can handle it as individuals ourselves.

04:09Remember not to keep up with the Jonases.

04:16All my CDCs, all the CDC money,

04:19All my CDCs, all the CDC money,

04:22is used to buy groceries.

04:25Nothing else.

04:38The main expenditure,

04:41before the baby was delivered,

04:44was the clothes.

04:50The diapers alone cost $30 per bag.

04:53The diapers alone cost $30 per bag.

04:56When we give formula milk, the milk is on the higher price.

04:59It's about $70 per can, and it lasts for only two weeks.

05:02It's a reality for us.

05:05We finally see the cost to raise a baby.

05:14I think the health issue is really

05:17a thing that is affecting Singaporeans

05:20because it's an ageing population.

05:23To care-give is not easy.

05:26Recently, my aunt had a fall

05:29and that affected her mobility.

05:32So, that is a real challenge

05:35because it's not easy to care-give.

05:38So, it's not easy to care-give.

05:41So, that is a real challenge

05:44because first and foremost, she's a single lady

05:47and she's not married, so that responsibility fell on my sis.

05:50When we were parents, we were thinking

05:53that, wow, we're going to buy diapers for the kids, right?

05:56I never realised that I had to buy diapers

05:59for my ageing auntie as well,

06:02which is really a life cycle, the cycle of life that goes around.

06:11We're going to have a baby soon.

06:14We're going to have a baby soon.

06:17We're going to have a baby soon.

06:20We're going to have a baby soon.

06:23We're going to have a baby soon.

06:26We're going to have a baby soon.

06:29We're going to have a baby soon.

06:32We're going to have a baby soon.

06:35We're going to have a baby soon.

06:38We're going to have a baby soon.

06:41We're going to have a baby soon.

06:44We're going to have a baby soon.

06:47We're going to have a baby soon.

06:50We're going to have a baby soon.

06:53I've got one particular cousin.

06:56He's always looking out for the amount that we receive from the government

06:59and he's always happy to announce it in our family chat.

07:02It's always exciting to get WhatsApp that tells you,

07:05$255 has increased.

07:10Or rather, I'm getting more than $255 a month.

07:14So I know that all these schemes have helped

07:17to make our situation better.

07:24There will definitely be some people still complaining that

07:28I only need a few hundred dollars.

07:30It might be a few hundred dollars to you, it might be measly to you

07:33but it might be really helpful for us newborn parents.

07:37Naturally, you want the best for your child.

07:39When you grow up, everything will be taken care of.

07:42There'll be no days where there'll be no food on the table.

07:45Everything will be taken care of from A to Z.

07:50For this new year, I look forward to creating more memories with my family.

07:55My small family, my husband, my son.

07:57I never realised it's so fast to be crossing the almost 70 zone.

08:02So to me, critical, the importance is building relationships.

08:08Bonding with my siblings and my husband, my children.

08:13I still journal almost every day.

08:15I want to understand life and to live accurately

08:21by living carefully and slowly.

08:26And hopefully I can replace the word carefully to carefreely.

08:32For more information visit www.cdc.gov.au

09:02CREDITS

Category

Transcript

Recommended