$350k for 1 child?

[tamarind]

KSP:

I think how much you spend on a child depend on how much you earn or have. Not everyone earn >$10k a month. How about those household below 2k a month? I don't think they will spend 350k for a child. But whoever one is I think there is a way to servive thru. For example


1. Medical - for the high earners of course can affort specialist/private clinic which cost hundreds per visit, for low income can go polyclinics which just more ten dollars. I'm just referring to minor illness here.

2. Education - for the high earners can go for $60-$80 per session enrichment classes, for low income can go for CDAC which cost much much low. Local Pri to Uni fees are all standard and subsidised. For those who can affort overseas more prestigous uni that cost few 100k can go but those who can't can stand in Singapore and take part time degree courses.

3. Pocket money - I feel this really depend on how much the parents earn.

I totally agree.

The government does not hesitate to give scholarships to the best students to study in prestigious universities overseas, and I think they are more willing to give to those from low income families.

I know there are kids who do not get any pocket money when they go to school, they bring bread and water from home.

I read that article in the Simply Her magazine. The $350K was an estimate by OCBC bank, sounds a lot like sales talk to me, they are probably trying to advertise their financial products. Their intention is to attract the high earners to put money in their bank.

[DesertWind]

tamarind:

I read that article in the Simply Her magazine. The $350K was an estimate by OCBC bank, sounds a lot like sales talk to me, they are probably trying to advertise their financial products. Their intention is to attract the high earners to put money in their bank.

Hi Hi!

This thought occurred to me too! Like if you started counting how much you need for retirement, I think can \"peng san\" straight-away. The aim of the financial advisor is to make you feel faint then hopefully start to save/buy insurance/invest with them.

Maybe because of my profession, I get a kick out of counting. Just to know how much everything cost, I kept an Excel worksheet recording all medical expenses from the time I consulted gynae to get pregnant until I delivered my baby. Also recorded all the baby stuff and furniture we bought. My gosh it costs a bomb! If I want to show anybody, its my hubby!

As for SGD350K, mmm.....have not done my sums yet. But I am just counting how much it cost for a primary school kid per month? When my friend told me SGD500 to SGD1000 per month, I could not believe her initially! In fact most of my friends with really young pre-schooler could not believe it too! Until we did our own sums ie. enrichment classes, school bus, uniforms, ballet dance, child care, etc...etc.... Just assuming SGD500 per month alone for primary school, we will need SGD 36K for whole of primary school! How many of us has SGD36K in the bank? :!:

So I would rather not count!
:celebrate:

[tamarind]

DesertWind,

Now I only spend $38 (school bus) + $5.50 (school fees) for my P1 girl every month That is less than $50. She refuses to attend any enrichment classes.

I don't keep track of how much I spend on food and clothing for the kids, too complicated for me to count

[KSP]

Raise a child with what you can afford not with what you can’t afford. Spend on things that are needed not wanted. I think the child will be more sensible and understanding when he/she grown up.

[buds]

:goodpost: KSP.

[DesertWind]

tamarind:

DesertWind,

Now I only spend $38 (school bus) + $5.50 (school fees) for my P1 girl every month That is less than $50. She refuses to attend any enrichment classes. I don't keep track of how much I spend on food and clothing for the kids, too complicated for me to count

Hi Tamarind,
This is comforting for me to know! Yes, that was what I initially thought. How expensive can it be? School is FREE, miscellaneous fees at most SGD30 per month. It is the enrichment classes, the most basic seems will be swimming lesson once a week, tuition perhaps at least one subject, ballet for some girls, piano lessons for others, goodness know what else.... :idea:

Yeah, no need to count food and clothing lah! Like how much is one bowl of rice and half a fish per meal for a child? How much is 3 singlets, 2 shorts and 2 uniforms every half-yearly for a fast growing child? Walamak as a bean-counter I also got fed-up!

No need to count priceless things like love, care and concern too! Ke..ke..ke... :love:

:celebrate:

[ruyu]

scholarshp dont need spend that much!

[chatelaine]

Imagine you spend min. $5 on your kid daily. By the time, they reach 18yrs, you would have spent ~$350k on them :!:

[duriz]

chatelaine:

Imagine you spend min. $5 on your kid daily. By the time, they reach 18yrs, you would have spent ~$350k on them :!:

Not really.
$5 x 365 days = $1,825
1,825 x 18 =$32,850

But $5 a day?
Really?
Abit too little no?

[duriz]

LKVM:

Maybe she wanted to write 50 :?

Maybe lor.
'Cuz methinks $5 is too little per day no :?