The Asian Banker, 12 Jan 2009
While most respondents do not think that the economic recession will derail progression in achieving their financial goals, nearly half of them believe it will take a longer time to realistically achieve their goals
Oversea-Chinese Banking Corporation Limited (“OCBC Bank”) unveiled the findings of its second survey on “Top 10 Singaporean Dreams” which indicate that in a climate of global uncertainty, priorities have shifted from being focused on personal luxuries and ambitions to more intrinsic issues such as home, relationship and family.
This year, the top three Singaporean dreams include 1) starting a family; 2) settling down (getting married or finding a life partner); and 3) house and home. Travel, which was the top priority for Singaporeans in 2008, has dropped to sixth position and four out of ten respondents indicated that they will cut down on spending. There are clear indications that luxuries and non-appreciating assets have now taken a back seat.
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