Raising children can be costly, especially in a place like Singapore.
A local businesswoman recently took to TikTok to share her views on the matter.
In her video, she estimated that bringing up three children in Singapore could cost S$30,000 to S$40,000 a month.
She shared that such a cost would be necessary to provide them with more options and a comfortable living.
On Tuesday (30 Jan), TikTok user @thatasianmama posted a video sharing her thoughts on how much would be required to raise three children in Singapore “comfortably”.
Source: @thatasianmama on TikTok
She explained that this would mean living in a condominium, owning a car, not needing to be “nitty gritty” about the prices of items, and allowing them to engage in any hobby they want.
Enabling such a lifestyle would result in significant costs.
For instance, she explained that the private school fees for her own three children cost about S$5,500.
Source: @thatasianmama on TikTok
In addition, sending her children for extra-curricular activities such as martial arts adds to her monthly expenses.
Even if they don’t eat at restaurants and go to hawker centres, she can still easily spend about S$30 or S$60 on their meals.
Vacations were also a factor in @thatasianmama’s calculations.
Even if one were to take the cheapest flights or stay in the cheapest accommodations possible, taking trips twice a year could still rack up a bill of S$8,000 to S$10,000.
What’s more, she noted that most hotels would not take in families of five unless one of them was under the age of two.
Booking cruises such as The Royal Carribean, which is popular amongst families, would cost about S$10,000 to S$20,000 as well.
Ultimately, the businesswoman noted that raising children “comfortably” would require about S$30,000 to S$40,000 per month.
This is to ensure that they have the freedom of choice in selecting their preferred curriculum without short-changing them.
In addition, it would leave parents with enough to go towards paying for their house, car, insurance, retirement savings, and other expenses.
Her video has since gained significant attention on TikTok.
Some users agreed with her estimation.
Source: TikTok
However, there were those who pointed out that her standards for raising children “comfortably” seemed pretty high.
Source: TikTok
Speaking to MS News, @thatasianmama clarified that her video was based on her own experiences and those of her friends who also have three children.
However, she made sure to note that it is not a “national benchmark” for everyone.
“Everyone’s definition of comfort can differ, and values of parenting can determine how we choose to nurture our children,” she said. “Parenting has many layers. Sometimes it’s going with the flow, sometimes is the routine and discipline.”
We cannot be perfect parents, but we can do our best to nurture the next generation.
As for those planning to have three children, she recommended calculating the expenses beforehand.
The businesswoman also shared that considering the current economic situation, S$30,000 to S$40,000 seemed to be “a good gauge” as people naturally love upgrading their cars or properties.
Parents would additionally want their children to have the best.
“Many people are easily spending this money, but most wouldn’t talk about it because money is a sensitive topic,” she said.
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Featured image adapted from @thatasianmama on TikTok.
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