Thinking Aloud

Does a family of 4 really need $6,426 a month for a basic standard of living? It depends

It is about what people feel they need to be socially accepted, not just what they can afford

How much do families in Singapore really need for a basic standard of living? PHOTO: DESMOND WEE
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For a few years, money at home was tight. I did not go on overseas field trips or to the cinema, and made excuses to skip class gatherings at restaurants. Each missed activity meant one less shared experience and common talking point - and one step closer to feeling as if I did not belong.

This is where the minimum income standard (MIS) approach, which relies on public consensus and not just expert opinion, comes in.

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