30 Jan '14, 6am

#Singaporeans now more savvy about managing #finances: Citi survey #Singapore

SINGAPOREANS have become more savvy about how to manage their finances, a Citi survey has found. The survey assigns a score to each of the markets it studies, including Australia, Thailand and India, by evaluating the financial standing of respondents in areas including budgeting, investing, savings and retirement planning. The combined score for Singapore was 59 points, the highest score obtained since the research started in 2007. The survey showed that 71 per cent of the 500 respondents in Singapore believed they had sufficient insurance protection for themselves and their family, while 66 per cent were confident their retirement savings would lead to a comfortable life. It also found that 70 per cent were optimistic about their financial future. "Since the financial crisis in 2008, Singaporeans have realised the importance of saving for a rainy day and are also constan...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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