Young high-income earners more likely to 'buy now, pay later': 5 findings of IPS-CNA survey on youth finances

More than nine in 10 younger Singaporeans have felt the toll of the rising cost of living, a survey by CNA and the Institute of Policy Studies has found. The study showed that those aged 25 to 39 spent the most on food, clothes and footwear, and utility bills, while those aged 21 to 24 are more likely to spend on hobbies. For instance, Mr Asyraf Ahmad, a 23-year-old student studying linguistics and psychology at NTU, told TODAY that he has tried to cut down on his spending. Still, he sometimes splashes out on car rentals because his hobby is going on car rides "for fun".

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- Similar story in CNA online, 17 Apr