The average cost of living in Singapore is S$5,750/month for a single person. Here is what that covers, what different salaries get you, and your path to financial independence.
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| Expense | Monthly (SGD) |
|---|---|
| Rent (1-bed) | S$3,500 |
| Groceries | S$600 |
| Transport | S$150 |
| Dining out | S$800 |
| Utilities | S$200 |
| Miscellaneous | S$500 |
| Total | S$5,750/month |
Estimates for a single person renting a 1-bedroom in a central area. Actual costs vary by neighbourhood and lifestyle.
Singapore combines high salaries, low taxes, and world-class infrastructure. The tax environment makes wealth accumulation significantly more efficient than most Western cities.
Low income tax — top rate 24%, most professionals pay 7-15% effective rate. No capital gains tax.
Interactive Brokers Singapore is the most popular platform. CPF supplements but is locked until 55.