"Five Cs of Singapore" — namely,

cash In economics, cash is money in the physical form of currency, such as banknotes and coins. In bookkeeping and financial accounting, cash is current assets comprising currency or currency equivalents that can be accessed immediately or near-im ...

, car,

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the ...

condominium A condominium (or condo for short) is an ownership structure whereby a building is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. The term can be applied to the building or complex ...

and

country club A country club is a privately owned club, often with a membership quota and admittance by invitation or sponsorship, that generally offers both a variety of recreational sports and facilities for dining and entertaining. Typical athletic offe ...

membership — is a phrase used in

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...

to refer to

materialism Materialism is a form of philosophical monism which holds matter to be the fundamental substance in nature, and all things, including mental states and consciousness, are results of material interactions. According to philosophical materialis ...

. It was coined as a popular observational joke during the 1990s about the aspirations of some Singaporeans to obtain material possessions in an effort to impress others. In comparison, the "CMPHH" — namely, coin,

MRT MRT may refer to: Transport Rapid Transit Systems * Mass Rapid Transit (disambiguation) * MRT (Singapore) or Mass Rapid Transit, Singapore * MRT (Bangkok) or Metropolitan Rapid Transit, Thailand * Manila Metro Rail Transit System, Philippine ...

, public parks, HDB and hawker — is a phrase used in Singapore to refer to

minimalism In visual arts, music and other media, minimalism is an art movement that began in post–World War II in Western art, most strongly with American visual arts in the 1960s and early 1970s. Prominent artists associated with minimalism include Do ...

Overview

Cash

Cash refers to spending power rather than physical currency. Financial security and affluence is a status symbol worldwide and for much of contemporary human history was the measure of personal worth and success.

Car

Approximately 1 in 10 residents of Singapore own a car. Given high taxation on the import and ownership of motor vehicles (191% on new vehicles, an annual road tax based on engine size, and high pump prices) and a quota system requiring owners to acquire a costly Certificate of Entitlement. Hence, car ownership is a symbol of wealth and power especially in Singapore.

Credit card

Credit cards are a visible symbol of success. Singapore's financial regulator, the

Monetary Authority of Singapore The Monetary Authority of Singapore (MAS) is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well ...

, has stipulated a maximum personal credit limit of two months' income given personal income less than S$30,000, or four months' income for all others. Banks typically issue different types of cards depending on the available credit limit, associating greater ''cachet'' with cards that offer a higher limit.

Condominium

In Singapore, privately developed apartments reflect a higher wealth status as compared to public housing also known as HDBs which are public flats built, sold and subsidized by the government. Up to 80% of Singaporeans live in public housing in the country, as land in Singapore is at a premium, meaning that freestanding houses are rare and signify even greater affluence, especially

old money Old money is "the inherited wealth of established upper-class families (i.e. gentry, patriciate)" or "a person, family, or lineage possessing inherited wealth". The term typically describes a social class of the rich who have been able t ...

Country Club

In Singapore, there is a small amount of country clubs which leads to limited expensive membership. Access to membership to country clubs is viewed as exclusivity and an indicator of power and wealth.

New Five Cs

In 2019, it was published that a "new" Five Cs has emerged since the 2010s among Singaporean white-collar workers, with lesser emphasis on materialism. While cash was retained, other C's can now include culture, credibility, career and convenience, among others. In a web conference of local newspaper ''

Today Today (archaically to-day) may refer to: * Day of the present, the time that is perceived directly, often called ''now'' * Current era, present * The current calendar date Arts, entertainment, and media Films * ''Today'' (1930 film), a 1930 ...

'' in 2021, it has been argued that newer generations of Singaporeans are now less materialistic and do not value the original Five Cs as much, and that they have redefined what constitutes as success and priorities in life. A panellist added that they now opt to work for a job that they are passionate in, with the intention to "make a difference", rather than just working for a salary. In 2022, MVNO (Mobile Virtual Network Operator) Circles.Life took to social media to introduce their definition of the new 5Cs with the aim to "reimagine the Singaporean dream" - Connected, Creative, Courageous, Compassionate and Carefree.

References

{{DEFAULTSORT:Five Cs Of Singapore Singaporean culture