What's a comfortable combined income before deciding to have the first child?

My advice to married couples planning to have kids would be only decide to have kids if you can save 40% of the combined household income, minimum.

So take stock of your current lifestyle and expenses, if you're spending 40k a year, you'll need to make at least 67k a year and saving the 27k (40%) before thinking children. Your child would easily cost you 20%, so you'll be left with saving 20% for your own retirement. Again, this is minimum.

If you can earn more and save more, please do.

Firstly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-pers...

After understanding your finances, we will do a family planning. Part of this process will include calculations for expected cost in the future after having the first child. Once this is completed, we will plan our cashflow accordingly such that these expenses will be taken care of when the time comes.

The best way to create a budget is via automation and this is how I do mine: https://www.blog.pzl.sg/how-to-create-a-monthly...

With the above two steps, we have a complete understanding on our cashflow which in turn has a direct impact on our lifestyle. Moreover, we have created a budget that is capable of helping us cope with our expenses after having a child. Now, work out your income to ensure that your goals can be achieved and that will be the comfortable income.

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