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‘Travel first and worry later’ is a top money sin in Singapore
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Downtown Tokyo decorated in the run-up to the Christmas season on Nov 18. Many people are splurging on holidays, fun and entertainment, and not saving for rainy days.
PHOTO: AFP
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You would think that many people would now be keen to save more for rainy days after surviving almost three trying years of pandemic, but the reality is just the opposite.
More of us are splurging on holidays like there is no tomorrow even though the economy is not exactly out of the woods. When OCBC surveyed about 2,000 people in August, it found that many were not saving for rainy days but for fun and entertainment, even though half of them confessed that they did not have enough savings to tide them over if they lost their jobs or suffered pay cuts.
