Costs of Living in Singapore 2013 Forecast

According to the experience of last year, I have to make a big consideration on the 2013 monthly cost. First of all, I think I will make three travels to Shanghai in 2013 at least. Each travel will cost S$560 for flight ticket and S$300 for gifts.

My rental will also increase to S$580 for a small common room beside JurongPoint, close to subway station. In 2013, my two year iPhone contract is over. So I downgrade my month phone line to S$25.00 plan. If there is no big change, my office will not move in this year. Therefore, if I put cost of phone bill, rental and transport together, it will almost remain the same as 2012.

The costs of food may take some changes according to the MTI MAS Core inflation outlook. They speculate Mas Core inflation is expected to average 2-3% in 2012. So my costs of food may increase to S$410. There are several factors will impact the CPI in 2013:

  • Continued weakness in the global economy
  • Imported inflation
  • Higher import and domestic food prices
  • Persistent tightness in the labour market

Investment in 2013

In 2013, I don’t have much free money to make investment. I put some money in Shanghai Stock Exchange Composite Index in early 2012, and it is reduced by 14%. It doesn’t disturb me too much because I treat it as a long run investment. In 2013, I will continue to look at Shanghai stock market.

In this year, I will also put some money in my served company. People also said “Put your money on what you are familiar with”. After investing my company, I can say I am working for myself in some kind of words. But have to admit, it is also a high risk investment.

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