Dear readers, it was announced today that the Singapore Median Household income was $9,520 in year 2021 which was up 3.6% in nominal terms, or before adjusting for inflation, from $9,189 in year 2020. The increase was 1.5% in real terms after taking into account inflation.
To me, this median household income though seems high but was not surprising to me since it was reported just last month that the median income of full-time degree holders in year 2021 was $7,351. Hence it seems to me that figures of salaries and hence household income seems to be rising.
And what seems or are rising are cost of living and projected GST increase. To mitigate effect of rising cost of living, we should continue to reduce on unnecessary expenditures and focus on health and a simple and spiritually rich lifestyle.