'$10,000 a month': Residents share how much it takes to live comfortably in Singapore

How much money would you need to earn in order to live comfortably in Singapore?

That's one of the questions which local investment training company Piranha Profits sought to answer in a recent street survey.

The eight-minute clip was published on its YouTube channel on April 27.

"If you're an individual I think $10,000 is enough, but as a family income, maybe $20,000?" replied one young respondent who identified himself as a student.

Another interviewee who's from Hong Kong agreed that a $10,000 base salary per month would be the minimum required amount in order to be content.

Two others, however, shared that a minimum income of $5,000 would have to be met, while another stated that $4,000 would be sufficient.

"It's all about what you want. If you think $5,000 is more than enough for you, then yah, I think you're happy enough," said one.

Their responses appeared to catch some netizens off-guard, with one commenting: "$10k a month? Wow. Their lifestyle must be huge."

Another, however, appeared to agree with the benchmark, expressing that as a parent with three kids, they are already spending $3,000 to $4,000 a month on "essentials", excluding mortgage and car payments.

"As a single [person] $10k is definitely good. But for a family I agree that $20k is much more comfortable, $10k would be a stretch."

[embed]https://www.youtube.com/watch?v=vx7TAdxVJM8[/embed]

Are Singaporeans truly happy?

The video also sought to find out if people living in Singapore are really as happy as purported, given that Singapore was most recently ranked the happiest country in Asia for the second year running.

Based on the clip, the same six respondents were asked how happy they were on a scale of one to 10. The answers appeared to be mixed.

"I think we are quite happy but I wouldn't say we're the happiest bunch," said the student, blaming it on the lack of work-life balance as "the main factor".

"Generally I'm very happy because I think it's still a safe country and people here are very friendly," shared one female respondent.

Two others agreed with the ranking, while another stated that cost of living and affordability could be improved.

"I've not reached my level of contentment yet, so that's the reason why my happiness level is a five," said one other interviewee.

As to whether money and happiness is correlated, the answers shown were also split down the middle.

"It's quite related, at least you don't have to worry about rent or insurance," said the Singapore resident from Hong Kong.

"To fulfil our needs, we need a particular level of financial security. Beyond that, happiness is more internal," opined another.

Expressed one of the respondents: "It's correlated because the more money you have, the things that you can do is much easier. Your idea of accomplishment is easier to achieve."

ALSO READ: What does it mean to feel rich in Singapore? Street survey reveals candid views

candicecai@asiaone.com