Money is a sensitive topic in Singapore. We don’t often talk about salaries openly, but let’s face it—everyone wants to know: How much do you need to earn to live comfortably in Singapore?

The answer isn’t straightforward. It depends on your lifestyle, responsibilities, and goals. To shed light on this, we spoke to Singaporeans from different walks of life—single professionals, parents, freelancers, and even financial experts—to understand what they consider a “comfortable” salary. Here’s what we found.

The Numbers: What Do Singaporeans Say?

When asked about a comfortable salary, the answers varied widely:

• Single and living with parents: 3,500–4,000/month.

• Single and independent: 5,000–7,000/month.

• Married with kids: 7,000–15,000/month (dual income).

These numbers reflect the diversity of lifestyles and financial commitments in Singapore. Let’s break it down further.

1. Single and Living with Parents: 3,500–4,000/Month

For young adults living with their parents, expenses are relatively low. Rent, utilities, and groceries are often shared, leaving more room for personal spending.

Example:

A 25-year-old financial advisor shared that $3,500/month is enough for his current lifestyle. He’s debt-free, has no major responsibilities, and is saving for a Build-To-Order (BTO) flat with his girlfriend. However, he acknowledges that this amount won’t suffice once he takes on more commitments, like a mortgage or starting a family.

Key Takeaway:

If you’re single and living with parents, 3,500–4,000/month can be comfortable. But start planning for future goals early—whether it’s buying a home, investing, or building an emergency fund.

2. Single and Independent: 5,000–7,000/Month

For those living on their own, expenses increase significantly. Rent, utilities, groceries, and transportation can easily add up.

Example:

A 31-year-old recruiter shared that 8,000–9,000/month is her definition of comfort. This allows her to enjoy dining out, shopping, and traveling without worrying about her budget.

Key Takeaway:

If you’re single and independent, aim for 5,000–7,000/month to cover basic needs and enjoy some luxuries. However, your ideal number depends on your spending habits and financial goals.

3. Married with Kids: 7,000–15,000/Month (Dual Income)

For families, the cost of living skyrockets. Housing, childcare, education, and enrichment classes are just a few of the expenses that add up.

Example:

A 41-year-old accountant with two kids shared that 7,000/month is the bare minimum for her family. With additional expenses like vacations and enrichment classes, she feels that 10,000–$15,000/month would be more comfortable.

Key Takeaway:

If you’re supporting a family, 7,000–15,000/month (dual income) is a realistic range. Budget wisely, prioritize needs over wants, and consider investing to grow your wealth over time.

Why Do Singaporeans Have High Salary Expectations?

Singaporeans often have higher salary expectations compared to people in other countries. Here’s why:

• High Cost of Living: From housing to healthcare, living in Singapore is expensive.

• Lifestyle Aspirations: Many Singaporeans want to travel, dine out, and enjoy luxuries.

• Inflation: Rising prices mean you need more money to maintain the same standard of living.

Tips to Achieve Your Ideal Salary

Whether you’re earning 3,500 or 10,000/month, here are some tips to help you grow your wealth:

1. Live Below Your Means: Spend less than you earn, and avoid lifestyle inflation.

2. Invest Wisely: Consider low-risk options like ETFs, REITs, or even gold.

3. Upskill: Increase your earning potential by acquiring new skills or certifications.

4. Plan for the Future: Set clear financial goals, whether it’s buying a home, retiring early, or funding your child’s education.

Final Thoughts

A “comfortable” salary in Singapore depends on your lifestyle, responsibilities, and goals. While 3,500/month might be enough for a single person living with parents, a family with kids might need 10,000–$15,000/month to feel secure.

The key takeaway? Everyone’s financial journey is unique. Focus on your goals, live within your means, and take steps to grow your income and savings.

At Modern Muslim Finance, we’re here to help you achieve financial peace of mind. Follow us for more tips on managing your money the halal way.