facebookMy wife is thinking of quitting her job when we have kids. We have a 25 year $1500/month HDB loan, and my annual salary is $63k. Any advice on how we can afford my mortgage on just my income? - Seedly

Anonymous

18 Apr 2019

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Saving Hacks

My wife is thinking of quitting her job when we have kids. We have a 25 year $1500/month HDB loan, and my annual salary is $63k. Any advice on how we can afford my mortgage on just my income?

Currently, we have 50k in our combined savings.
Is there a way to extend my mortgage so that the monthly repayments are lower?
Is it strongly not advisable for my wife to quit her job?

Discussion (6)

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Decide after you see the kids expenses... You may change your mind.

Jayden Tan

09 Nov 2018

Logistics at University College Dublin

Maybe you should ask yourself what is the loss of income to your household of your Wife quit her job? Do also factor in that it may be tough for her to get back to the workforce in the future and for young children in childcare,working mum subsidy is 300 bucks per child..if the kids go to school on weekdays, you still will see them at nite and on weekends with a 9-5 job..so I do not understand why parents have to be 24/7 with the kid. Worst situation u get a maid to help out Is still cheaper than quitting a day job.

From the current single income salary that u have.. I don't think ur cpf is able to cover the monthl...

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