According to preliminary estimates, the Singapore economy increased by 1.2%last year, and this year is estimated to be 1%to 3%.A recent survey by Singapore Industry and Commerce Federation (SBF) shows that about 75%of local companies expect that this year's economy will not improve this year.
These two important economic information may be reminding the people that the pace of economic growth this year is likely to slow down.
In other words, new local job opportunities will be reduced. In order to survive, many multinational companies may take layoffs or salary reduction measures to spend the difficulties.This scene is of course unpleasant, but who can stop the development of the economic trend?
Experts tell us that there is a certain cycle cycle of economic development, and there must be a rise and fall. The important thing is to prepare, including the preparation of psychological and adjusting real life habits.Only then can you survive peacefully.
Some people say that the past 2023 is a troubled world. In this year, there are either natural disasters or human disasters around the world.In fact, the lives of people in various places have not improved after the disgusting crown disease.The deep deterioration of Sino -US relations, the Russian and Ukraine War, the Harbin War and the Red Sea crisis have brought a lot of great pressure on the world.It is not easy for business to survive. Besides, Singapore is a small country, and it is inevitable that due to the influence of the world's retrograde development.
In addition, due to the rise in the US dollar interest rate in the short term and the rise in crude oil prices, all parts of the world face the inflation demon.In this regard, those who know how to observe the world bureau and can randomly adjust their limited resources to meet the needs of life, of course, they have an advantage over others.
Looking back on the situation of Singapore.Last year, Singapore's overall inflation rate was about 4%.As an open economy, because more than 70%of items must rely on imports, especially food and energy, they are almost all imported. Therefore, in terms of inflation, the Singapore government's consistent policy is to maintain a stable Singapore exchange rate.
Theoretically, inflation often occurs during a period of economic expansion in a country, and inflation occurs in economic recession. It is rare in history.Once from 1974 to 1975, scholars called it stagnation, that is, high inflation and low employment rate or economic downturn coexist.
Government assistance measures are two birds with one stone
In order to reduce the burden on the people's response to inflation and consumption tax, the government recently issued a social forecast for the club of the fourth round of the total value of about 635 million yuan.This year, each family can receive 500 yuan shopping vouchers, an increase of 200 yuan over last year.
The government sent neighborhood shopping vouchers, which also reflects that the world's high inflation has indeed put a lot of pressure on the general salary, especially low -income class.Therefore, various subsidy measures including shopping vouchers, such as timely rain, have played a great role in relieved their urgent need, and they have won two birds with one stone. One is to assist Singapore families to reduce the pressure of living expenses, and the other is to add buying the neighborhood vendors.
No one likes economic recession, especially the older generations who have been hit by decline.However, for some young people who have never felt the suffering of economic recession, their ideas may be different.For them, it is already an unacceptable quality of life to a few times a year or no money to buy new cars a year.
Therefore, parents may use opportunities to teach children to cultivate a good habit of frugal.However, parents should be used as an example.I know that many young people have abandoned the purchase of government houses and turned to buy private apartments, because they have received the assistance of parents in finance.However, once the economic downturn arrives, when the company lays off for the reduction of expenses, the biggest blow to those who borrow from banks to the top of the amount.
The following are some suggestions for changing life and financial pressure when economic recession:
1. Incorrect calculation: Under the double impact of economic recession and high inflation, if the expenditure does not decrease, it will increase financial pressure.Therefore, we must know how to calculate and quantify.Specific measures include reducing unnecessary expenses, such as reducing food and takeaway.Dining out is usually more expensive than cooking at home. Try to cook at home.
2. Financial aspects: minimize debt as much as possible, avoid excessive reliance on credit cards or usury, and reduce financial pressure.Find an additional source of income, such as using your own skills to work part -time.Expanding the source of income helps to diversify risks.You can also consider making good use of insurance protection to prevent accidents caused by accidents or diseases to reduce risks.
Three, increase savings: Some people say that making a penny is much more difficult than saving a penny, and this is true.Savings are an important means to deal with risks.During the economic recession, savings can help us respond to dilemma such as revenue reduction and unemployment.In order to increase savings, you can increase income through part -time or increase skills by reducing unnecessary expenditures, and wealth management products with high investment income, such as retirees of provident fund.
Fourth, improve skills: During the economic recession, companies may lay off or reduce salary.Therefore, it is important to enhance personal skills and enhance employment competitiveness.This can prove your skill level by participating in vocational training, learning new skills, obtaining vocational qualifications, etc., and continuously learning new knowledge to achieve.
5. Change living habits: save energy consumption, use less or control the temperature of air conditioning, save water and electricity, etc., which can reduce water and electricity expenses.Buying second -hand items, such as furniture, electrical appliances, etc., can also obtain the required items at a lower price.In addition, when shopping list and preferential promotion, you only buy items that really need it instead of items.
Although the economic recession is unavoidable, if you are prepared, you can better face the challenges it brings.Although it is difficult to buy it early, after understanding the situation, you can prepare, have a strategy of responding to the crisis, and adhere to the amount of everything. I believe that the rainbow will appear after the storm, and the opportunity to succeed is often left to the most prepared person.
