Realistic or not? Mum suggests it takes $30k to $40k of monthly income to raise 3 kids 'comfortably' in Singapore

Raising children is a meaningful and life-changing journey.

But the reality is that doing so comes at a price — especially in Singapore, where the cost of living is high.

One woman took to TikTok on Tuesday (Jan 30) to share her views on how much it can take to raise a family "comfortably" in Singapore. 

Going by the handle Thatasianmama, she suggested that a household "definitely needs about $30,000 to $40,000" a month to raise three children.

The entrepreneur, who has three children herself, added that this is why it's important to have two incomes in each household.

@thatasianmama We are talking bout per month expenses. Thats why we need 2 income in each household… unless #sgmummy #mumtok #momofthree #womenoftiktok #standardofliving #sgbaby #sgbabytok #moneysense #finance #income #jobavailable #sghire #sgpregnantmoms ♬ Eternity - Instrumental Worship and Prayer

Some would say that what is considered "comfortable" can vary per person. So what does living comfortably mean to her?

According to Thatasianmama, this includes living in a condominium, owning a car and allowing your children the option to pick up a hobby should they wish.

It seems like a large chunk of expenses would go to the kids' education, according to her.

Take her situation, for example.

She and her husband are raising three children, all under the age of seven, and they spend around $5,500 on private-school fees alone.

Of course, she understands that opting for a private pre-school education was a conscious decision on her part.

Other costs that drive up monthly expenses include extra-curriculum activities for the kids and day-to-day activities like eating out with the family.

"Even if we don't eat at restaurants and go for hawker centre [food], we still can spend about $30 or $40," she shared.

Family vacations don't come cheap either.

Thatasianmama noted that even if the family tries to be frugal and opt for nearer destinations or budget flights, the total cost can amount to "$8,000 to $10,000".

Saving up for retirement, paying for insurance and giving money to parents are things that should also be considered, she added.

'Up to the individual'

In the comments section of the video, a number of users responded to her estimations, calling them rather "unrealistic".

"All [that was] mentioned are wants and not needs," one user commented.

However, there were also those who agreed with her views.

A user said: "The most realistic one I've seen so far."

Speaking to AsiaOne, Thatasianmama noted that there is "nothing wrong" if someone raises three children with less than a certain amount.

"It is still up to the individual. Everyone spends based on affordability," she added.

The monthly expenses she quoted in the TikTok video pertains to a lifestyle where one does not want to overthink on price tags and "say yes to the child's request for extra hobbies".

ALSO READ: How to offset the rising cost of your child's education in Singapore

amierul@asiaone.com

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