How much saving is needed before family planning?

Mai van min

New Member
I wonder how much do we need to save before getting our first child? How much per month need to spend on a kid? how old were you in your first pregnancy? I’m 29 this year, our parents have been chasing us to have a kid, but I’m not sure if we are financially ready...
 

CupofTea

New Member
Hello! I had my first child at 29 too.

Cost is dependent on a lot of factors - citizenship (affects subsidy amount for healthcare, childcare); support system (having family to help out vs depending fully on external institutions for childcare from birth); job profile (whether your income is higher than projected outsourced care costs like childcare/domestic helper).

You can minimize spending as much as you can by availing subsidies, using subsidized care partially/fully in public hospitals, buying barely used baby items etc. You can also spend more as long as you can afford (e.g. private hospital care for delivery can go up to 20K without Medisave deductions in case of an emergency c section vs close to zero payment if you avail maximum subsidy for normal delivery at a public hospital).

With all that said, it really depends on your motivation to have kids. We wanted kids for sure so I chose to start at 29 because waiting any longer could possibly pose problems in conceiving and delivering a healthy baby (which is usually way more expensive to solve). I was ready to settle for cheaper options along the journey (delivery, childcare etc) if needed.
 

Mai van min

New Member
Hello! I had my first child at 29 too.

Cost is dependent on a lot of factors - citizenship (affects subsidy amount for healthcare, childcare); support system (having family to help out vs depending fully on external institutions for childcare from birth); job profile (whether your income is higher than projected outsourced care costs like childcare/domestic helper).

You can minimize spending as much as you can by availing subsidies, using subsidized care partially/fully in public hospitals, buying barely used baby items etc. You can also spend more as long as you can afford (e.g. private hospital care for delivery can go up to 20K without Medisave deductions in case of an emergency c section vs close to zero payment if you avail maximum subsidy for normal delivery at a public hospital).

With all that said, it really depends on your motivation to have kids. We wanted kids for sure so I chose to start at 29 because waiting any longer could possibly pose problems in conceiving and delivering a healthy baby (which is usually way more expensive to solve). I was ready to settle for cheaper options along the journey (delivery, childcare etc) if needed.
Thank you so much for the advice.
 

xiehui1128

New Member
Hello! I had my first child at 29 too.

Cost is dependent on a lot of factors - citizenship (affects subsidy amount for healthcare, childcare); support system (having family to help out vs depending fully on external institutions for childcare from birth); job profile (whether your income is higher than projected outsourced care costs like childcare/domestic helper).

You can minimize spending as much as you can by availing subsidies, using subsidized care partially/fully in public hospitals, buying barely used baby items etc. You can also spend more as long as you can afford (e.g. private hospital care for delivery can go up to 20K without Medisave deductions in case of an emergency c section vs close to zero payment if you avail maximum subsidy for normal delivery at a public hospital).

With all that said, it really depends on your motivation to have kids. We wanted kids for sure so I chose to start at 29 because waiting any longer could possibly pose problems in conceiving and delivering a healthy baby (which is usually way more expensive to solve). I was ready to settle for cheaper options along the journey (delivery, childcare etc) if needed.
very helpful
 

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