Business @ AsiaOne

How two young S'poreans are coping

Two young professionals cutting back and living frugally to deal with the recession. -myp

Thu, Nov 13, 2008
my paper

By Rachel Chan

CASE STUDY NO. 1: NG XIAO YAN, 24

SHE used to dine at family restaurants such as Sakae Sushi and Cafe Cartel two or three times a month.

 

But since food prices rose recently, the social-service worker, who earns about $3,000 each month, has been restricting herself to eating at restaurants only once a month.

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'My first choice would be to go to a hawker centre when I eat out. If that's not available, I'll hit the food court,' she said.

She is also doing more window-shopping now, and limiting purchases to 'necessities'.

'The last thing I bought when I went shopping last month was a $39.90 cardigan ' and that was a necessity,' she recalled.

While she is not in fear of losing her job, she added: 'I feel the need to tighten my belt these days as there are rumours that there'll be a pay cut next year.'

 

CASE STUDY NO. 2: LEON KIONG, 28

GRAPHIC designer Leon Kiong must have been among the first few to feel the pinch of the recession when he was axed from his full-time job sometime in August.

About 40 other employees were also retrenched at the same time. He was making more than $4,000 a month then.

Mr Kiong took three months to find a new full-time position while living off the income from freelance assignments. He's now happy at his new job with a broadcast-solutions company.

While he has been more frugal, opting to eat at home or at hawker centres instead of the usual mid-priced restaurants, he isn't too worried about losing his job again.

'I have confidence that my abilities and skills will always be in demand,' he said.


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