, Singapore
198 views

Over a third of Singaporeans' saving habits hit by pandemic: study

Only 17% say they were able to save more.

Even the saving habits of Singaporeans have been affected by the COVID-19 pandemic, according to a study revealed by Singapore-based wealth management and financial advisory firm AAM Advisory.

More than 33% of respondents believe their saving habits have been affected, with 25% saying they are now saving less and 11% having lost their income entirely or can’t save at all.

Only 17% of respondents confidently expressed they have been able to save more amidst the pandemic.

Findings show middle-aged respondents (45–54-year olds) were impacted the most, with 30% mentioning they have had to cut on savings and 12% saying they have lost their income.

On the other hand, only 19% of younger respondents (25–34-year olds) say they’ve been saving less during the pandemic. Half of them remark their saving habits haven’t changed, or they have been able to save more even during the crisis.
 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!