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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