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3 Tips On How New Singaporean Parents Can Save Money
In a country that has one of the lowest birth rates in the world, having a baby has every reason to call for a celebration.
Then there's the kiasu spirit that's in the blood of every Singaporean parent. As a result, Singaporean parents give all the attention to their babies and are willing to spend a lot of money on them.
Parents-to-be and first-time parents are more anxious. They often buy whatever baby stuff they can afford, or the stuff they see other parents are buying.
Not that I'm a very experienced parent, but I have gone through it myself and have seen my friends with newborns go through the same experience, I can tell you now that some of the money you spend on your baby might not be necessary.
If you are a new parent (or will be one soon), you may want to take a look at these 3 tips, which can help you save money on baby stuff and get more for your money!
1. Borrow Things From Your Colleagues And Friends
Before you go out and buy everything for your baby from scratch, ask your friends and colleagues whose babies have already grown up if they have any memorabilia they might be willing to part with. They might have things you need and they no longer use.
You can even ask people whose baby is still little, you may be surprised by what they can offer you!
Thanks to my wife, who has bought far more things for my son in the past 20 months than she has bought for me in the last 13 years, my son gets to ride in 3 different strollers.
I was told that the other 2 strollers are backups in case the first one breaks down. Since the first one has never broken down, the other 2 strollers have become a permanent part of our home decoration. I would happily lend them to my friends and free up space in the house!
Strollers, bottle sterilisers, baby cots and play pens are expensive items that you use when your baby is little. Once that baby grows up, all that fun stuff serves a single monotonous function: Sitting in a corner collecting dust.
Instead of buying new ones, borrow these things from your friends and colleagues. They will probably jump at your offer to free up their limited storage space!
2. Buy Temporary Items Second-Hand
I used to think that blue whales were the fastest growing creatures on the planet, but now I know that title belongs to my son.
Every couple of weeks, my wife reminds me, "We need to buy new shoes for our son." During the first few months of my venture into fatherhood, my surprised reaction was something like, "Already! Didn't we just buy a new pair last week?" Now I'm already used to this phenomenon.
I can also count the number of times my son has ever touched his rocker, music box, walker, high chair and many of his other awesome gadgets on one hand. Ok, that might be an exaggeration, but you get my point.
I know as a new parent, you want the best for your baby and love to buy new things for him. But you will only use certain baby stuff for a short period of time, because your baby will always outgrow them.
If your friends and colleges don't have them, you can usually find second-hand items for sale online. There are many websites that sell second-hand baby stuff, and you can often find nearly new stuff for a fraction of the retail price. Just a single search on Google will lead you to a number of good second-hand baby stores in Singapore.
For stuff that you don't want to buy second-hand, using the right credit card when shopping can help you save on your new purchases!
Citibank Rewards Card MasterCard is a great credit card that lets you earn 10X Rewards Points on your shopping and up to 40% off your online shopping at partner websites! You can read our review of Citibank Rewards Card MasterCard and apply online in order to start saving money while doing your shopping!
3. Hire A Maid If You Have More Than 2 Babies
The cost of raising a baby in Singapore is quite high, which is one of the reasons why Singaporeans are reluctant to have a baby.
According to estimates by The Asian Parent, the cost of raising a child from birth to 21 years of age in Singapore is about $340,000!
Even with government subsidies, you will need to pay at least $700 to $800 per month for infant care (for babies below 18 months old). If you have 2 babies, that will add up to a cost of $1400 to $1600 per month! You can do the maths if you have more than 2 babies. It just goes up from there.
Instead of sending your babies to the infant care, you can hire a maid to take care of them.
Hiring a maid in Singapore costs about $700 to $800 a month (including levy). Add the cost of food and other benefits, and you will need to fork out about $1000 a month. If you have 2 babies or more, that can work out a lot cheaper than putting them in infant care.
If your parents or parents-in-law no longer work and are willing to help with the kids, that's an even better option. Not only will you save money as a family, but your kids will have time to develop a bond with their grandparents.
Don't be surprised if your parents don't fancy the idea of babysitting for you though. After all, taking care of a baby is often described as the world's toughest job!
What do you think? Share your comments with us below!
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