Singaporeans are taking charge of personal finances since pandemic

Despite a global economic crisis, 1 in 3 Singaporeans’ relationship with money has changed for the better since the pandemic, a survey conducted by personal finance website SingSaver found. When asked what were the key motivations for their change in relationship with money, Singaporeans cited preparing for unforeseen circumstances (51%) and gaining financial freedom (47%). “Singaporeans are taking charge of their personal finances, especially as we continue to navigate pandemic related challenges,” said Henry Sewell, Country Manager, SingSaver. Not only did 36% of Singaporeans start investing since the pandemic, they also invested more of their income (58%) and diversified their portfolio by investing in new products (62%). A better relationship with money doesn’t mean Singaporeans are cutting back on expenses entirely.

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