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Anonymous
Raising a child as a single parent: can anyone help with a financial checklist please?
I just found out that I'm expecting (my first child). While I'm looking forward to becoming a parent, it has been stressful to think about how I can prepare myself financially to raise a child, as a single parent. Reaching out here in hopes that some of you can share a 'financial checklist': what are the things I will need to prepare and take extra notice of, as a single parent? Will be so grateful, thank you.
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Kylie Ng Kai Li
09 Jun 2021
Senior Premier Consultant at AIA Insurance Pte Ltd
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Hi,
Tp start off, it is crucial to understand your own monthly expenses and budgeting, know what you are spending on so that you know where to cut down on your expenses when it is needed. You would probably need to be a little more frugal.
There are some information online that I think would be helpful, and even resources on how much to raise a child in Singapore. (Easily about $600 per month for diapers, milk etc)
https://dollarsandsense.sg/much-cost-raise-chil...
https://www.google.com.sg/amp/www.asiaone.com/m...
https://blog.moneysmart.sg/family/single-parent...
All the best in your parenting journey! :)