Average Cost of Living & Savings Habits in Singapore, Hong Kong, and Mexico

Ever wondered how people in different parts of the world manage their money? Let’s take a closer look at the average cost of living and savings habits in three very different countries — Singapore, Hong Kong, and Mexico. You’ll see how culture, lifestyle, and government policies shape the way people spend and save.

1. Singapore: Discipline Meets High Costs

Singapore is known for being clean, modern, and expensive. A single person typically spends between S$1,500 to S$2,500 a month (excluding rent). Families can see monthly costs rise to S$4,500–S$6,000.

• Food: $200–$250 (Hawker centers keep it affordable)
• Transport: $100–$150
• Utilities: $100–$200

But what makes Singapore unique is the CPF (Central Provident Fund), a mandatory savings system. It forces citizens to save for housing, healthcare, and retirement. On top of this, young professionals often invest in ETFs and Regular Savings Plans (RSPs), starting from as little as $100/month.

💡 Takeaway: In Singapore, savings are built into the system, making financial discipline a national habit.

2. Hong Kong: High Rent, High Ambition

Hong Kong is one of the most expensive cities in the world. Rent is the biggest burden — sometimes 50% of income. Without rent, monthly living costs range from HK$8,000 to HK$12,000.

• Food: HK$3,000–HK$5,000
• Transport: HK$800–HK$1,200
• Utilities: HK$1,000+

Despite high expenses, Hongkongers are active investors. Many trade stocks, ETFs, and even dabble in crypto. Financial literacy is strong, and people save aggressively, aiming for financial freedom early — partly because retirement support isn’t as strong as in Singapore.

💡 Takeaway: Hong Kong teaches us that even in a high-cost city, people find ways to save and invest smartly.

3. Mexico: Community Living and Steady Saving

Mexico offers a sharp contrast. A single person’s average monthly spend (excluding rent) is about MXN 10,000–15,000 (~USD $600–900). Families might spend around MXN 25,000–35,000.

• Food: MXN 3,000–5,000
• Transport: MXN 1,000–2,000
• Utilities: MXN 1,500+

Savings habits are more traditional. Many people rely on informal community savings groups (called “tandas”), small-scale investments, or property. Younger generations are starting to use fintech apps for investments, but the culture is more family- and community-centered compared to Asia’s tech-heavy approach.

💡 Takeaway: In Mexico, savings are built around trust, family, and community support.

Comparison Table

Country	Avg Monthly Spend (Single)	Key Savings Habit	Unique Factor
Singapore	S$1,500–S$2,500	Mandatory CPF + RSPs	Government-enforced savings
Hong Kong	HK$8,000–HK$12,000	Active stock/ETF investors	High rent pressures savings
Mexico	MXN 10,000–15,000	Community tandas, property	Family & community-driven finance

🌎 Final Thoughts

From Singapore’s structured savings, to Hong Kong’s investment hustle, to Mexico’s community-driven finance — the way people save and spend is deeply influenced by their culture and economic environment.

What’s the lesson? Whether it’s government policies, high living costs, or family traditions, financial habits are never random. They’re shaped by where you live — but also by the choices you make.