According to Minister for National Development, Mr Khaw Boon Wan, in his Parliamentary speech, "happiness is an affordable first home for all newlyweds". Indeed, the high prices and difficulty in bidding for a HDB (Housing Development Board) apartment has delayed wedding plans or even setting up a family for several newlyweds in Singapore, which would inevitably affect the already low birth rate that we are experiencing.
Yet in a recent study called "The Happiness Report", it was found that Singaporeans most unhappy about insufficient savings with 46.5% of those polled reported a lack of sufficient savings in the last 6 months, especially prevalent among those aged between 30 and 44-years-old. The report also predicted this number to rise in view of stagnant wages, inflation and higher costs of living that may occur in the wake of a possible recession. Indeed the latest figures from the Department of Statistics show Singapore's inflation up 5.5% in September. Singapore's consumer price index (CPI) rose by 5.5% compared to a year ago, due to higher costs of accommodation, private road transport and food. The average working Singaporean gets an annual wage increase of about 3% and with bank savings interest rates at only about 0.05%, it can only mean real income is getting smaller for the average Singaporean.
I guess happiness means different things to different people at different times. So what is happiness to you now?
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