Not an Ordinary Budget

The annual budget has been brought forward this year to help ease the recessionary fear that Singapore is facing. It was meant to be "not an ordinary" budget. True enough, it was. I mean we have to seek the president approval to dip into our reserves to tie us over this crisis. Well, since independence, we have never experience such tough times. When we were still an emerging economy, we were still growing but not to this extend.

This year, which even our leaders have said, is the most difficult time that Singapore is facing. It is even worse than financial crisis in 97, slow down in 86 and even the oil crisis in 73. I mean this is really tough as everyone is feeling the pinch with pay cuts, retrenchment and bonus loses. Even i have to scale back my overseas trip to manage the current crisis. I guess we are over dependent by external economies and eventually faces crisis once major economies suffer setback.

I am encouraged by the tax rebate given by the govt, 20%. However, i hope it could be more. I mean more pple are getting pay cuts and things are still expensive. Prices of goods have not come down ever since inflation early last year. The GST credit has been doubled to help us manage the crisis. Although it is a temporary measure, a little still help. But sad to say, the pay cut is too much and it is unable to cover the losses.

Lunar New Year is round the corner and i am cutting a lot of my budget too. I only bought one shirt. No more new year goodies from me. hahaha.. Cut down on other transport, overseas trip and clubbing expenses too. To stay at home is the best liao. hahaha... No need to spent and rot away. lol. But pay cut still come with more work, i still need to destress. How? So dilemma. Try to save as much as possible lor!