INFLATION and the rising cost of living have been on the minds of Singaporeans since early this year.

However, the focus is now turning to the global economic crisis, retrenchments and pay cuts.

I applaud the Government's plans to provide assistance to Singaporeans.

Minister Mentor Lee Kuan Yew has also given his assurance that Singaporeans will not be alone in their struggle during this difficult period.

I would like to offer the following suggestions:

Keep tabs on your budget

All your daily, weekly and monthly expenditure should be recorded, so that you can avoid unnecessary expenses in future and plan future expenditure wisely.

Be content

Categorise your expenses into basic necessities, wants and luxuries, and focus on the necessities.

Don't be too choosy

This goes for the unemployed and young people who are entering the job market for the first time.

Be thankful when you receive an offer.

If need be, negotiate for a win-win situation for both parties.

However, be mindful that it is now an employers' market.

Should you, for whatever reason, be unable to secure a full-time job, settle quickly for part-time or contract work.

Getting paid a regular income, no matter how little it might be, beats being jobless for a long period.

More restrictions on credit card applications needed

Increase the minimum-income requirement for credit-card applications to at least $35,000 per annum or higher, and raise the minimum age from 21 to 25 years.

While this might potentially lead to a drop in income for banks, I hope they can view it as a small gesture on their part to help alleviate the problem of credit-card debt among young people.

Mr Muhammad Dzul Azhan Haji Sahban

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