One of the few things I learned while creating my workshop are interesting statistics on Singapore families. Of the new things incorporated into my training materials, two statistics stand out in terms of usefulness.

  1. a) Median Household Expense Information 

The median household expense information is about $4,699 per month. This number is only useful after we adjust for inflation since the figures were collected in 2013. Inflation has been quite mild for the past 5 years, so after applying a 2% increase, a household spends around $4,792. Now, the median household size is around 3.2. So dividing expenses by headcount, we get a really reliable expense figure of about $1,500 per person in 2018 as a reasonable benchmark.

  1. b) Median Household Income Information

The median household income information for 2017 is a fairly high figure at $9,023 per month. This is very impressive. Assuming that each household consists of …