Managing your expenses in Singapore effectively is key to enjoying your time in one of the world’s most dynamic cities. Known for its high quality of living, Singapore can also be expensive. Below is a comprehensive guide to help expats, new residents, and migrants understand average costs and efficiently plan their budgets. 

1. Average Monthly Costs of Living 

On average, monthly expenses in Singapore can vary widely depending on your lifestyle. On average it would be:

• Single person: On average expect to spend SGD 3,500 to SGD 6,000 per month

• Family of four: An average household is estimated to spend anywhere from SGD 6,000 to SGD 12,000 per month. 

Your overall expenditure will depend on factors such as housing choices, dining preferences, and leisure activities, but it will be able to set a global baseline for what to expect. 

2. Accommodation 

Housing is often the largest expense in Singapore. 

• Rent for a one-bedroom apartment in the city centre averages SGD 3,500 - SGD 4,500/month. Outside the city centre, costs range between SGD 2,500 - SGD 3,500/month. 

• HDB public housing flats can be a more affordable option, starting from SGD 1,500/month. 

• Renting a room in shared housing is another budget-friendly choice, with costs going as low as SGD 300.

Tip: Consider living slightly outside the central business district (CBD) to save significantly on rent. 

3. Utilities 

Monthly utility bills (electricity, water, and gas) vary depending on the size of your home and usage. 

• Average for a single person in an apartment: SGD 150 - SGD 250/month. 

• Larger households may spend SGD 300 - SGD 500/month. 

4. Groceries 

Grocery shopping is another significant expense. Though Singapore imports much of its food supply, prices are manageable if you buy local or regional products. 

• Average cost for one person per month ranges from SGD 300 - SGD 500. 

• Higher-end supermarkets offering international brands (e.g., Cold Storage) will be more expensive than local markets and chains like NTUC FairPrice or Sheng Siong. 

5. Public Transport 

The public transport system in Singapore is efficient, clean, and well-connected, making it a cost-effective way to get around. 

• Public transport in Singapore is an affordable option for daily commuters, with monthly expenses for MRT and bus travel costing SGD 128.

• Taxis and private-hire cars like Grab are convenient but more costly, averaging SGD 10 - SGD 30 per ride, depending on distance and time.

6. Insurance Costs 

Insurance is essential for personal protection, especially for expats. 

• Health insurance premiums vary, but expect to spend around SGD 100 - SGD 300/month, depending on coverage. 

• Life insurance and travel insurance are additional costs to consider. 

Tip: Employers often provide health coverage, so check with your HR department before purchasing private plans. 

7. Dining and Entertainment 

Eating out in Singapore can range from budget-friendly hawker centre meals to high-end fine dining. 

• Average cost for a meal at a hawker centre or food court: SGD 5 - SGD 10. 

• Mid-range restaurant meals start at around SGD 20 - SGD 40 per person, excluding alcohol. 

• Cinema tickets cost approximately SGD 13 - SGD 15. 

Tip: Enjoy the vibrant local hawker scene for affordable and delicious meals. 

8. Miscellaneous Expenses 

Additional costs include mobile/internet plans, clothing, personal care items, and leisure activities. 

• Mobile and Internet plans range from SGD 50 - SGD 100/month. 

• Gym memberships cost approximately SGD 100 - SGD 180/month, depending on the facility. 

Tip: Look for package deals or use public parks for free exercise options. 

9. Savings and Budgeting Tools 

Set aside at least 20% of your income for savings or investments. Use budgeting apps or tools like YNAB or Spendee to track expenses effectively. 

10. Summary and Recommendations 

Living in Singapore provides a unique experience but demands financial discipline. By understanding the key costs, you can create a realistic budget and minimise financial stress. 

• Prioritise needs vs wants to keep within your budget. 

• Consider group buying or deals for groceries and dining to save more. 

• Use public transport over private hire cars to reduce travel expenses. 

With careful planning, you can enjoy all that Singapore has to offer while staying financially secure!