Hi Savvy Community, recently had a fam in this situation, what’s your take on what they need more now or how to work their finances?

Wife n husband or husband or wife need get a job as the only way to start to get income. List down the necessities n budget how much to spend. 14 yrs old can use 15 yrs old textbook, I do that also n save money on the textbook as if the textbook is repeated one. Set a budget for their two kids allowances so not to overspend on unwanted items. Hv a emergency fund for the family. When hv a job, every mth will have CPF credited into their retirement accounts so both old also no need to worry. 50 yrs old also can take up job if not picky or pick up a skills using skills future credit if they r Singaporean. Only hv job n save prudently without spending money anyhow will see the cash compounded in the bank account then there will be no low insurance coverage anymore or there will be passive income like investing. With money, any thing can solve. As both r almost 50 yrs old, get a job n their retirement account had been taken n paid all finish of the apartment rent or mortage. If these two taken care of, growing money wouldn't be a prob.

What keeps the whole family from signing up for McDonalds? would that not solve majority of everything - foods, wages, pocket money...

Work out the bare minimum cost for the family of 4 to survive and I'm hoping they do have emergency savings to be ready for such situations.

​

minimize wants and focus on needs. The consoling thing is it is currently an employee market with an abundance of job opportunities out there so it shouldnt be tough going back to the workforce if one isn't too picky. good luck!

That sounds like a really scary situation, especially when the sole breadwinner is out of a job, but please have faith that things will get better! In my years of community service, I dare say one thing: no one will die of hunger in Singapore.

​

There are lots of resources from govt and volunteer/ charity groups that can help a family in need, so keep trying and don't give up. Try calling Comcare @ 1800 222 0000 for help if it is urgent:

https://www.msf.gov.sg/media-room/Documents/Inf...

​

Also, WDA should be able to help in finding a job. If all else fail, try this program to upskill and they will give you a monthly allowance too:

https://www.skillsfuture.gov.sg/sctp

​

Wish you all the best and may things get better for you soon!