As I navigate the complexities of adult life in Singapore, I find myself increasingly perplexed by the contradictions that seem to permeate various aspects of our society. Having graduated from the National University of Singapore in 2016, I’ve had a front-row seat to the intricacies of the working world, and it’s left me with more questions than answers.
Take, for instance, the insurance industry. The moment you start working, you’re bombarded with agents and roadshow promoters peddling policies of every shape and size. While insurance is undoubtedly a necessity, it’s puzzling to see how the system seems to favor those who need it least. The wealthy, who can already afford large medical expenses, are the ones loading up on policies, while those who genuinely require financial protection are often priced out. It’s a curious phenomenon, to say the least.
This paradox is not unique to insurance, however. Visit any electronics retailer, and you’ll find that it’s not the affluent who are taking out loans to purchase large appliances or air conditioners. Rather, it’s those who can’t afford to pay upfront, and subsequently, they’re the ones shouldering the burden of interest payments. Meanwhile, the wealthy reap the benefits of credit cards, accumulating points and rewards with ease.
A recent experience at the petrol pump left me scratching my head. The voucher system, which previously offered a $5 offset for every $60 spent, has been tweaked to require a $70 minimum spend. As someone who relies on their car for family needs, including ferrying older parents and a young child, I find it galling that the new system seems to benefit those who drive higher-cc vehicles – individuals who likely don’t need the $5-$10 voucher in the first place. It’s a classic case of the haves getting more, while the have-nots are left to struggle.
I’m left wondering what kind of genius came up with these ideas. If the intention was to help people save money, shouldn’t the focus be on those who need it most? It’s a question that lingers, as I navigate the complexities of Singaporean life, searching for answers that seem to be in short supply.