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

A family of four needs at least $6,426 a month to afford a basic standard of living, according to a study released last month. Put together by researchers from NUS’ Lee Kuan Yew School of Public Policy and NTU, the study drew a response from the Ministry of Finance. At the heart of the debate is this paradox: Both the study and the official numbers are right. One captures the basic needs: getting by in Singapore. The other captures something more akin to belonging to this society: getting better.

Read the article here.

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Photo by L YS on Unsplash