facebookMy partner earns a 5 figure salary while i'm not. We may want to have kids in the future. With our financial position, do you think its possible?? - Seedly

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Anonymous

16 Dec 2022

Couple Finance

My partner earns a 5 figure salary while i'm not. We may want to have kids in the future. With our financial position, do you think its possible??

For better context, i earn an avg salary <3.5k take home pay.

Discussion (7)

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Cryotosensei

09 Jun 2023

Blogger at diaperfinancingfund.blogspot.com

My and my wife's salaries combined don't even hit $10k but we have two kids. Haha. The Parenthood Tax Rebate for the second child is a godsend; I spilt it equally with my wife ($5k each). I might not have to pay income taxes for at least 2, hopefully 3 years.

Just adjust your lifestyle and expectations accordingly!

Some HHI only 4k but have like 4 or 5 kids!! Of cos it is possible. Nothing is impossible. :P

That said, with your HHI being above the median, it probably means you will receive much less subsidy than those below.

Manage your expectations and expenditures. I mean if you want your kid to go Mindchamps childcare, private piano/swimming/art/dance lessons, eat only organic or imported food etc (& entire family eat that too), hire domestic helper(s), stay landed, the list goes on.

Money always not enough if you want the sky.

Of course its possible... there are people earning lesser and still with kids. most importantly is whether you want the kid or not.

Can have kids with your financial conditions, but should consider your own physical/mental capabilities as well since raising a kid takes more than being financially stable ( for eg. you may have to resign in order to be a stay home parent to take better care of your child, and that's reduced income)

5 figure salary cannot support a child? I think Singapore no more next generation aleady if 5 figure...

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