4 in 5 S’poreans prioritise financial control as economic sentiment looms

Inflation and cost of living remain the top economic concern for Singaporeans.

In Singapore, more than 4 in 5 (83%) residents plan to actively manage their finances amidst concerns of a sluggish economy in 2025, AIA Singapore reported.

According to AIA, 54% of residents aged 18–29 feel financially prepared to navigate the economic challenges of 2025, whilst 34% of those aged 40–49, many of whom are responsible for their parents or children, share similar sentiments.

Inflation and cost of living (50%) remain the top economic concern amongst the population, followed by worries over job security (35%) and income levels (34%).

Meanwhile, only 47% of Singapore residents are optimistic about the economy.

For Singaporean residents, the top three financial priorities are savings (62%), a stable income (57%), and emergency funds (52%). Notably, 1 in 2 (48%) cited insurance as an important way to ensure financial stability.

AIA also found that 22% intend to boost expenditure towards insurance (22%) and investments (27%) this year.

In addition, 3 in 5 (59%) plan to spend less on daily expenses or big-ticket purchases.
AIA surveyed 1,000 Singaporeans from 29 November to 9 December 2024 on their financial, health, and wellness needs.