Lava Flow

Effective Date : 1 July 2005. Increment(S$0.10 to S$2.10, original amount is bracketed right beside the increment): Motorcyles - S$0.10(S$0.50), Taxis - S$0.30(S$2.40), Cars - S$0.50(S$3.20), Buses - S$0.50(S$3.90), Vans/Small Lorries - S$1.00(S$7.30), Big Lorries - S$2.10(S$14.50). Percentage of increment : 12-20%. Reason : LTA announced that Singapore's toll rates are pegged to those set by Malaysia for the use of the Causeway and Second Link. A similar hike was introduced by Malaysian authorities in May 2005. Last Revision : 1 March 2002, after the Malaysian toll rates hike in January 2002.

Another burden to Singaporeans travelling to Malaysia via Second Link? Especially for those with businesses? Whatever the reasons for the hike, this is just one of the small hikes making THEIR way into OUR lives. And THESE small hikes can accumulate to quite a tidy sum, per month, for those affected. Unofficial hikes from shops, vendors and other business, in my opinion, hit the end consumers the most. Cumulative effects either affect those at the top of the chain the most, or those at the bottom.

So are we spending more? Unwillingly or willingly? I do remember that a feeder bus trip used to be only 15cents and a meal at the market used to be only $1.50.

Most of the times, we would have no choice but to accept each hike, maybe with some complaints and murmurs to ourselves and friends. Prudent ones would review whether they can do without that expenditure. Others would just get used to paying more. But I am still glad that our GST and Income Tax rates are still much lower compared to some other countries.

BUT maybe we should be better prepared, financially and mentally, that price hikes are just so inevitable - Be prepared to pay the same cost for the same thing(or the same class/category) years later. YOU want to get it, YOU better be willing to pay for the price, be it lower, same or higher. Else, let go of it and live without it.

Money is meant to be spent? Or saved?