Growing expenses push some Singapore couples away from parenthood
Raising a child in Singapore is becoming significantly more expensive, with some costs rising by up to 50 per cent over the past three years. Beyond basic needs, enrichment classes and education are driving expenses close to S$1 million for some families. Financial consultants say mounting costs and economic uncertainty are discouraging more couples from having children, contributing to the nation’s record-low fertility rate. CNA speaks to Derrick Koh, Board Director of the Centre for Fathering, and John Dasson, Wealth Advisory Director at Financial Alliance.
Raising a child in Singapore is becoming significantly more expensive, with some costs rising by up to 50 per cent over the past three years. Beyond basic needs, enrichment classes and education are driving expenses close to S$1 million for some families. Financial consultants say mounting costs and economic uncertainty are discouraging more couples from having children, contributing to the nation’s record-low fertility rate. CNA speaks to Derrick Koh, Board Director of the Centre for Fathering, and John Dasson, Wealth Advisory Director at Financial Alliance.
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