Updated: 07/07/2014 22:06

80% of Singapore households save regularly for children's education



80% of Singapore households save regularly for children's education

A survey has found that 8 in 10 Singaporean households save money regularly for their children's education. 

Card issuer, MasterCard, points out that this is higher than the Asia-Pacific regional average of about 7 in 10. 

On average, Singaporean households save 14 per cent of their monthly income for children's education, higher than the regional average (13%). 

Across the region, Thai households are the biggest savers, setting aside 21 per cent of their monthly household income, whereas New Zealand households save just 6 per cent. 

And 4 in 10 Singapore parents send their children for tuition. 

But they trail Indian parents; more than half of them send their kids for tuition. 

Much like their regional counterparts, close to two-thirds of households in Singapore spend money on non-academic extracurricular classes for their children - mostly in sports (26%) or musical pursuits (20%).

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