To admin of Singapore Ink,
I am a Finance Manager working in a Singapore-based SME. I was shocked to hear the announcement that the year-end bonus payments for Civil Servants will only be 0.1 month, as I remembered that it was a very generous 1.0 month payout last year.
I am worried as to whether the private sector will suffer the same fate and have a drastically reduced year-end bonus. I had planned and booked an expensive year-end holiday for my family in Europe and paid for everything using my credit card well in advance.
I was expecting a good year-end bonus payout this year, but I have recently heard of talk in the company that things are not looking good. I am worried about paying off my credit card bills for the expensive holiday I have booked.
I’m ashamed to say that even though I have a background in Finance, I am not that good at my own financial planning. I have very little savings and basically spend most of my monthly salary. Should my company really scrap the year-end bonus, I would most likely be in financial trouble.
I cannot afford to lose my job. I have not told my wife about this and I am wrecking my brains out for a solution to this. Is there some way I can get myself out of this situation? Please help but keep me anonymous, thanks!