Cost of parenting

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Cost of parenting

Postby super_dad » Wed Dec 26, 2007 4:08 pm

Lately with all the price hikes, wondering what are the impact to cost of parenting.

Meals are definitely more ex now...Transportation too.

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Postby ChiefKiasu » Wed Dec 26, 2007 10:12 pm

The cost of parenting is always increasing. If your kid is 8 years old now and you intend to send him/her abroad for studies in 8 years time, you have to save at least $500K by then just for him to do just that. I'm not joking.

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Postby super_dad » Thu Dec 27, 2007 9:41 am

500K??? Man, I go commit sucide my insurance also won't give me so much :O

No wonder my parents never send me abroad for stuides.

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Postby ChiefKiasu » Fri Dec 28, 2007 12:37 am

Another way is to tell your kids to get a scholarship or go fry burgers. Maybe teaching them to be independent is the best education you can give for your kids.

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Postby phantom » Fri Dec 28, 2007 10:06 am

super_dad wrote:500K??? Man, I go commit sucide my insurance also won't give me so much :O

No wonder my parents never send me abroad for stuides.


Singapore University is getting more expensive as the years pass, the government aim to only subsidize 20% instead of 80% (if I remember correctly) of the University fees. That is a huge hole in the pocket man. I wonder if I have enough money to survive that :cry:

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Postby super_dad » Wed Jan 02, 2008 10:18 am

So if by the time that you kid reaches time for Uni...and you find yourself with no money. what are the options? If kid not smart enough to get scholarship, any loan scheme etc?

Seems like quite tough to get a degree in future and they can be deprived of it due to financial reasons.

Any thing we can do as parents to prevent this?

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Postby phantom » Wed Jan 02, 2008 4:33 pm

super_dad wrote:So if by the time that you kid reaches time for Uni...and you find yourself with no money. what are the options? If kid not smart enough to get scholarship, any loan scheme etc?

Seems like quite tough to get a degree in future and they can be deprived of it due to financial reasons.

Any thing we can do as parents to prevent this?


You always have the bank loan as an option. But that will mean a longer period where your kid will be bounded by the loan. So before he can save enough to buy a flat and wedding, he will have to pay off his loan first. I suppose at that time, people will only get married comfortably after 35 years old? Wow, so lesser baby at that time.

I am actually buying some education insurance, but not a lot of money. I am not sure of other better options except to work hard and save hard for the kid :(

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Postby jedamum » Fri Mar 07, 2008 9:37 pm

super_dad wrote:
Seems like quite tough to get a degree in future and they can be deprived of it due to financial reasons.

Any thing we can do as parents to prevent this?

On the contrary, i feel that it will be easier to get a degree in the future...if you are talking about an honours degree. The downside is that employer will set 'Masters Degree' as the minimum requirements for a job.

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Postby super_dad » Mon Mar 10, 2008 8:05 am

Yeah quite true. Degrees these days are pretty standard affairs. Haz...

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Postby poohcutie » Mon Sep 15, 2008 1:08 am

agree that degree is kind of common nwadays

we bght some savings policies and both my kids will have almst the same equal amt by maturity.

the amt shld be decent enf to see thru local uni. If manage to get scholarship, hahaha, i KEEP the $ for holidays!!!

:lol:

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