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Some parents think it costs $2k a month to raise a child
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Overseas education has long been viewed by many parents as a luxury, especially when Singapore’s own universities are already ranked among the world’s best.
ST PHOTO: KUA CHEE SIONG
Some couples put themselves under undue financial stress because they set the unfeasibly high target of providing $2,000 or so a month in outlays for each of their children.
They believe that over $500,000 is needed to raise each child from birth to age 21, or $1 million for two children, a sum that is surely out of reach for the average household.
