Singapore Parents Feeling the Financial Strain

SINGAPORE: A recent post on Reddit highlights the struggles of a couple in Singapore navigating the high cost of living while raising their 4-year-old daughter. Despite a combined income of S$10,000, the man expressed concerns about the financial implications of having a second child.

In his anonymous post on the 'Ask Singapore' forum, he noted that the rising prices of everyday commodities add to the pressure of parenting. The couple, part of the ‘sandwich generation’, also shoulder the responsibility of providing monthly allowances to their parents, which further complicates their financial situation.

"I know our salaries are above the median in Singapore, but we still feel the pinch from the rising cost of living," he wrote, revealing their intention to possibly have another child but feeling discouraged by their financial outlook. “We are not huge spenders; we don't splurge on luxuries or enrichment activities for our daughter,” he added.

His candidness opened the floodgates for others facing similar financial dilemmas. Several Singaporean Redditors jumped into the conversation, sharing their experiences with the financial strain of raising children. One user, who earns S$16,000, shared, "We're in the same boat. We cannot afford a second child, and I find myself lacking the energy for one."

Another commenter, expecting a second child with a combined income of S$11,000, lamented the increased financial pressure even during her difficult pregnancy and the added costs of hiring a helper. "I feel like we’re sinking with every new expense," she wrote.

The prevailing sentiment among users was a shared frustration over the financial burden posed by both young children and the need to support aging parents. "It’s tough when parents don’t plan for their retirement properly, and it’s the kids who have to carry the weight," one user commented.

As the cost of living in Singapore continues to soar, many parents are making sacrifices and cutting back on small luxuries. Reddit threads earlier this year discussed various strategies for coping, with participants reporting the cancelation of gym memberships, online subscriptions, and daily indulgences like coffee and milk tea.

The situation prompts a crucial question: Are Singaporean parents caught in a cycle where the dream of a larger family becomes increasingly out of reach? As discussions unfold online, it’s clear that many families are weighing the emotional desire for additional children against stark financial realities.