, Singapore
146 views
Photo by Bich Tran from Pexels

Negative sentiments dominate over one-third of money talks amongst Singaporeans

Younger people are more cautious in discussing financial matters.

More than one-third of money conversations on social media that mention parents (34%), children (37%), and spouses (42%) contain negative sentiments, according to an SJP Asia report.

The report found that younger interviewees from more traditional Asian families are more cautious in discussing financial matters such as spending and higher-risk investments.

Meanwhile, expats expressed a reluctance to disclose financial information about their friends and family in their homeland due to differences in financial status.

Moreover, some people turn to professional advisers yet misconceptions about financial advice, such as the belief it is only for high-net-worth individuals, remain prevalent online.

On social media, people feel overwhelmed by the amount of information presented to them about money decisions, impacting their comfort in talking about money topics.

SJP’s social media analysis found that posts about lotteries and get-rich schemes get nearly ten times the engagement on social media as traditional media articles on financial management.

Further, retirement is a leading topic, generating more than 12,000 mentions over the past year. SJP said this shows how people link retirement with financial freedom and lifestyle flexibility.

 

Join Singapore Business Review community
Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Top News

TSH responds to SGX haze queries, cites no fires
The company said it enforced a zero-burning policy from May 2009.
Malaysian and Thai central banks join SG’s BLOOM
They will ensure policy and regulatory considerations are taken into account.