Are Millennials Facing A Personal Debt Crisis? - Free Websites, Share News And Posts Publicly

Good morning.

How are young Singaporeans are grappling with the rising costs of living? The Talking Point team wanted to find out.

So we spoke to some, for instance Nurul Raiyhani, 27, who is worried she won’t be able to afford a flat with her fiancé. But as producer Chan Luo Er dug deeper, she uncovered a more worrying trend.

Our joint survey with the Institute of Policy Studies found that 81% of young adults feel they are spending too much; almost half don’t think in-depth about their financial situation. Could millennials be setting themselves up for more debt than previous generations?

The episode, which has been trending on YouTube, clearly struck a chord – generating fierce discussion particularly about the problem of “buy now, pay later” schemes, and whether millennials are prudent enough with their spending.

This is the last instalment in our series Beyond Plain Sight, which looks at the hidden struggles faced by various groups of Singaporeans.

Earlier episodes, which delved into the lives of food delivery riders and children from public rental flats, also resonated deeply with viewers.

Many flooded the YouTube comments section by sharing about their own struggles of living in a rental flat, or their experiences trying to earn a living as a food delivery rider.

I was heartened that some viewers even reached out to us offering help to some of the individuals featured in the series. For me, it had been humbling over the course of production to get to know people like 17-year-old Wan Nur Wardina, who told me she was grateful to simply have a place to live in.

Sara Victoria Grosse

Series Producer, Beyond Plain Sight, Talking Point