Financial inequality is obvious. But time inequality is more cunningly obscure.
Imagine you buy a place near the edges of Singapore for $250,000 instead of $500,000 in the city fringe.
You work in the city and have to add 2 hours of travelling time to and fro work compared to if you have stayed close to your work place.
Based on the median hourly wage of $25.21, and assuming 250 working days a year, that’s a time cost of $12,605. Working 40 years means a whopping time cost of $504,200.
Either you pick a workplace closer to your home to reduce travelling time or you make use of your travelling time a lot better than watching shows.
If you buy a house near your workplace, what do you do with the time saved?
If you buy a cheaper place, what do you do with the money saved?