About 1 in 3 Singapore investors saddled with debt: survey

And almost half owe $10,000 or more.

Though Singapore investors are better in saving and tracking expenses compared to their regional counterparts, about 1 in 3 local (33%) investors hold debt excluding mortgages.

According to the latest Manulife Investor Sentiment Index (MISI), Singapore has the third highest proportion of investors in debt in comparison to other markets in the region. Malaysia and the Philippines led the list, while China, Taiwan, Hong Kong, Indonesia and Japan ranked fourth to eighth respectively.

Almost half (46%) of indebted Singapore investors owe $10,000 or more, and over 4 in 10 (44%) expect to take longer than one and a half years to clear their debt. The biggest contributor to their debt was daily living expenses such as clothes, entertainment, and travel.

Further, more male investors are in debt compared to female investors (37% compared to 28%), with a significantly higher average debt amount of $40,985 versus $25,502.

Meanwhile, more than 6 in 10 (69%) regret not planning their investments better. Respondents shared that their main reasons for regret were not being proactive in reviewing their portfolio (27%) and holding too much money in cash instead of making more investments (26%).