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Anonymous

31 Mar 2020

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Help! With the new Reslience budget, what can I apply for?

Due to COVID-19 measures, all working persons in our household (self employed/contract) have income cut by 90% to 100%.

We live in a rented condominium, so the annual value of the home might not let us qualify for grants

We live paycheck to paycheck.
With income cut by 90%-100%, we really cannot make ends meet.
Is there any form of financial assistance by the measures that can help considering we live in a condo?

Discussion (5)

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If there are constraints which leads to one being unable to move to a cheaper housing option, appeal to the government for the financial assistance on case by case basis. Defer income tax payments (this is probably one that you can apply for through the resilience budget) and all possible payments (mortgage loan on the property you are not staying in.. if there is one) you can defer.

All the "able to work" folks will need to pick up the slack and do whatever available jobs there are out there.. the government jobs - service ambassadors (can just walk to nearest cc and enquire), hospital temporary staff, customer service jobs etc at ICA checkpoints, deliveries, petrol station attendants, security jobs etc.

Talk to the landlord. If can do full deferment, good. If not, partial rent payment with promise to repay in full the owed rent once the situation gets better... After all, if landlord loses the tenant now, he may not have other tenants - borders are locked down. We are all in this together.

We don't understand your full situation - whether you have a need to stay where you are because of proximity to children's school, upcoming primary 1 registration, multiple properties or it's really the most affordable deal (becos you snagged a good rent) or just lifestyle choice... But one can't have his cake and eat it too. Be mentally prepared to lose things (monetary losses) while being grateful that loved ones are still around you. 留得青山在,哪怕没柴烧。as long as one is alive, you can rebuild what you have lost...

Next paragraph is for the general public..
The resilience budget will help most Singaporean to get through the crisis.

The resilience budget is not meant for people who still hold unrealistic expectations that they will be able to get a PMET job quickly and decides to bum off the couch watching Netflix, play games, and not get any, and I mean any part time, full time job out there that brings in ANY income, and then expect government to continue funding their day to day lives. The longer one waits, the jobs will all go to those who are more resilient and adaptable - because they snatched up the jobs first.

Just look at all those people elsewhere in the world, where affected poor people lose their jobs due to lock downs, and have to travel 700km by foot (together with their kids) to get back to their hometown because they can no longer afford to stay in the city and hunger will be their main worry.

Then think about yourself, and the situation you are in...
We can get through this. There are always options. Sometimes, one just have to invoke the undesired, unpopular options. Including asking relatives and friends for temporary help etc.

Colin Lim

30 Mar 2020

Financial Services Consultant at Colin Lim

At times like this your emergency funds will be activated. To reduce expenses, is to downgrade your lifestyle: HDB rental, sort out your expenses and cut down or reduce your expenses.
If you have family of 3, u can rent 2 room HDB for short term. If you have family of 4, you can rent 3 room..

There are part time jobs like food delivery and groceries delivery. U can find out from govt websites to find job openings..

Gabriel Tham

30 Mar 2020

Tag Team Member at Kenichi Tag Team

  1. Downgrade to HDB rental

  2. Faster find a full time or part time job that has enough cash flow t...

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