How Much Money To Set A Side

[titan3227 0]

Make use of whatever the government helps with first?

Now, they match each dollar you put aside for your child saving. max $6000.

E.g. you put aside $6000. Then you will have $12000 for education, medical, etc.

Not sure of details though.

Do some financial planning lor... den you can spend without worries

[info.deanwatson 0]

I think you need to prepare much amount since having a baby is already an investment. Make sure you already have your own home and a car. You have enough savings aside for the baby.

[Guest Goobii]

10k (We used up to $4k cash plus medisave almost up to a total figure of $8k for our 1st child)

* Not enough medisave then need to use cash *

if u plan to visit pte hospital

5k (My cousin only spend $3k for his childbirth... but just prepare around $5k or more... )

if u plan to visit kk hospital

2)

the cost to spend on the baby each year till pre-school?

I also dunno yet, maybe just try to save as much as possible. Try saving 15% of ur income per month to prepare your child saving for till he primary 1. Anyway government give bonus up to $6k so you just pump in $6k and government give u $6k... in total : $12k.

Edited October 7, 2009 by Goobii

[waileong 0]

We are planning to have our first one.

In terms of finances, how much do we need to set a side from contraception to birth, and the cost to spend on the baby each year till pre-school?

very worried about $$$$

Pls share your experience. thanks

It's "conception", not "contraception"....

[stevetang 0]

10k (We used up to $4k cash plus medisave almost up to a total figure of $8k for our 1st child)

* Not enough medisave then need to use cash *

if u plan to visit pte hospital

5k (My cousin only spend $3k for his childbirth... but just prepare around $5k or more... )

if u plan to visit kk hospital

2)

the cost to spend on the baby each year till pre-school?

I also dunno yet, maybe just try to save as much as possible. Try saving 15% of ur income per month to prepare your child saving for till he primary 1. Anyway government give bonus up to $6k so you just pump in $6k and government give u $6k... in total : $12k.

KK also dun save much, and not a very nice experience there, if u do a search on the price for giving birth at all the different hospital the price is not very much different if u are staying in 4 or 6 beded rm. Unless u are staying in a single beded than the saving are a bit differences.

[kiapower321 0]

having baby in singapore will never be cheap. so unfair that i have a malaysia friend who give birth in malaysia only cost her Rm 150 for going under knife and staying 4 days.... if singapore haha at least also have to use over 10k

[Roflmaoxz 0]

having baby in singapore will never be cheap. so unfair that i have a malaysia friend who give birth in malaysia only cost her Rm 150 for going under knife and staying 4 days.... if singapore haha at least also have to use over 10k

Never ending story, if everyone keep comparing with other countries when they decide to deliver in Singapore. My mum didn't get charge for a single cent when I born in elsewhere, whereby my youngest sister kana fined $1000 when singapore thought that she is facing over-population at that time.

Someone mention KKH's services are quite bad. But I have encountered nice experience there. Furthermore KKH offer more comprehensive treatment and care for your baby if (touch wood) your baby requires NICT or special treatment.

Overall I spend $3.2K on my son's delivery + wife's cesarean (Oct 09), Class B2+, all deducted thru' my medisave. I didn't foot a single cent at the pre-admission office. I get back $830 cheque from KKH for the reimbursement of Maternity Package.

So I use this $$$ for the avent milk bottles (6 x 4oz) + (4 x 9oz) and teats, milk bottle sterilizer, milk bottle warmer, stockpile of diapers which last me 3mths + cloth diapers, milk powder (2 cans per mth for 3mths), electrical sa long, liquid detergent/softener for baby clothing and milk bottles.

This mth got to standby $300 for the 5-in-1 injection, as I forgotten to top-up baby's CDA last mth.

$$$ for baby usage, is never enough one....

[Amy Choon 1]

haha.. it's hard to calculate how much money to put aside for the kid.. these are just the daily and required expenses... how about their future? need to help them save so that if one day, we gone, CHOI! they have some money to sustain..

one thing for sure, buy a hospitalisation policy for your little kid. cos if your kid gotta hospitalise, it really ease your burden a lot. i remember when mine was about 4 mth, i bought a policy for her. i just paid 3 mths premium, she already stay twice, each time 3k, but i didn't paid a single cent.

and please buy life policy for yourself too, cos money is what the kid need most if you are gone.

as for the daily expenses, i just spend more on her than on myself lor. when she was a baby, weekly supermarket trips are solely to buy her diapers, milk power, baby wipes, baby wash etc... what to do?

[bepgof 20]

Dear all, first time read this, hope can contribute advice:

1. In 1995, spent 5K (3k cpf, 2k cash) for my first boy in Mount Eliz. Pregnancy gynae = $960.

2. In 1997, girl, Almost the same.

3. Since 1995 May, set aside $300 mnthly into an account for the 2. Wife handles the details...

4. Keep surplus in the account.

5. When boy went to sec 1 in 2008, his share to this acct stopped.

6. Acct stopped early this yr, girl goes to sec 1. Surplus splitted equally into their own account.

Conclusion: $300/per month enough for 2 with surplus.

1. Boy(now sec 3) studies in RI, despite the schoolarship $2400/yr, need to pay $135/per mnth. Dialy expenses $5/per day.

2. Gil (now sec 1) studies in BG, abt $10/per mnth, Daily expenses $5/per day.

Bought insurance $20,000 for each when they were born and policy will mature when they reach 21. We are awared this amount is not enough for U or oversea study (just in case).

Had a maid when boy was born till he was 6, mom-in-law stopped work & stayed with us till now. Stayed in 5-rm HDB for 13yr, sublet whole unit out for 1yr ans sold, stayed condo for 3 yr, now back to 5-rm HDB. Own a car since 1996.

Children are gift from God and must treasure it, imagine yr father gave u a present, what u do to the present?....

Edited March 17, 2010 by bepgof

[leechaorui 2]

When you earn more, you can provide more for the kids. When you earn less, provide less for them. I saw some families (father working as a security supervisor) and mother stays at home to look after 5 kids. They look very happy. Stay in 4 room flat and no car, no tuition for children.

There are some who earn much more, but find it a struggle to support even one kid with 2 adults working. Different people different expectations and thinking.

Cheers!

[Wu Jiahong Alvin Ng 1]

Dear all, first time read this, hope can contribute advice:

1. In 1995, spent 5K (3k cpf, 2k cash) for my first boy in Mount Eliz. Pregnancy gynae = $960.

2. In 1997, girl, Almost the same.

3. Since 1995 May, set aside $300 mnthly into an account for the 2. Wife handles the details...

4. Keep surplus in the account.

5. When boy went to sec 1 in 2008, his share to this acct stopped.

6. Acct stopped early this yr, girl goes to sec 1. Surplus splitted equally into their own account.

Conclusion: $300/per month enough for 2 with surplus.

1. Boy(now sec 3) studies in RI, despite the schoolarship $2400/yr, need to pay $135/per mnth. Dialy expenses $5/per day.

2. Gil (now sec 1) studies in BG, abt $10/per mnth, Daily expenses $5/per day.

Bought insurance $20,000 for each when they were born and policy will mature when they reach 21. We are awared this amount is not enough for U or oversea study (just in case).

Had a maid when boy was born till he was 6, mom-in-law stopped work & stayed with us till now. Stayed in 5-rm HDB for 13yr, sublet whole unit out for 1yr ans sold, stayed condo for 3 yr, now back to 5-rm HDB. Own a car since 1996.

Children are gift from God and must treasure it, imagine yr father gave u a present, what u do to the present?....

A very well definition... tks for sharing.. * Clap * *Clap*

[Wu Jiahong Alvin Ng 1]

Is hard to predict u can save how much each days, mths, or yrs cos evrything keep changing n things is getting more n more ex...

So just try not to spend on unneccessay things like luxury items n etc tat not for use... remember.. Money always will not enough in future cos we dunno

how e society n things going to change abruptly...

[MADstud 0]

Hi all, sorry to be abit random here. 

We are a group of students who needs help in filling up a survey for our marketing project. 

it is a very short 1-2 minutes survey and there will be prizes like Capitaland vouchers (to save more for the baby), free hair services in very upmarket salon and more to be won!

Link to survey: https://www.surveymonkey.com/r/SW7G9YY

Thanks a million!