For the average middle income-earner, the most important thing before you marry, is settling the house.
Next, even after settling the house, there are outstanding loans to be paid off as years go by. Some people use their CPF money to buy HPS ( Home protection scheme , at 2.5% flat interest) to secure the loans should anything happen to their spouse / breadwinner. This money can only be used to pay off your outstanding loans, its something you would never physically touch.
Second way, some people take loans from the bank, which at the moment gives a 1% interest - better than CPF - , however you have to take a risk and hope the interest does not fluctuate to above 2.5%.
Third way, buying a mortgage insurance with private insurance companies which pays out a lump sum in cash eg. $600,000 to your family, should anything happen to you. This amount can be used for anything, the housing loans or other loans. However, not everyone has the extra cash to afford insurance. I understand, but if I could show you a way to afford private insurance, without you forking out extra money.
Would something like this, be useful to you?
Anyway, if any parents here are interested to find out, feel free to ask me.
Securing that roof over your head
With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.