Singapore households’ finances: Still healthy, but with a chance of cost-of-living pressure

SINGAPORE – Households here remain financially healthy, with the net worth for the average household continuing to grow, but this could come under pressure if costs of living continue to rise, experts said.

While data from the Department of Statistics showed that household net worth rose 7.6 per cent to $2.72 trillion in the third quarter of 2023 on a year-on-year basis, folks have also been saving less and credit card debt has been creeping up.