Anonymous
How should we generate more income (from our monthly salary) to not only plan for our retirement but our kids too in the future?
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Nicholes Wong
02 Mar 2019
Diploma in Business Management at Nanyang Polytechnic
Set aside money for emergency, insurances ready, set aside money for wedding and children. You can either choose to upgrade your skills in your current job to earn more pay. Or take on side gigs like tutoring, photography and so on to earn more income.
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Charmaine Ng
02 Mar 2019
The Value Maximizer at @ Every Ma La Xiang Guo Stall
Is there any skills that both of you possesses that could potentially turns into a viable business m...
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First and foremost, it's best if you both understand each other's approaches and philosophy to finance. It's one thing to take care of your own finances, and another to take care of joint expenses (and this includes extended family say in-laws etc). For example, I have seen disagreements where recently married couples cannot agree on how much they should give their respective parents etc.
Budget
Really examine what the expenses are to live together. Utilities, food, transport etc. Clearly, it will be even more with children. Understand how much it will be, so as to minimize surprises in the future.
Both parents might even have different perspectives on what is deemed 'essential' for a child. One parent might think that chinese tuition classes at $200 a month is absolutely critical, whereas the other might not.
More income
Look at side jobs, and take on projects that leverage your own skillsets.
P.S. I would probably not spend so much on a wedding, but that's my personal take.