How To Avoid Money Faux Pax As New Parents

Parents World

Issue 73

We give you the lowdown on the money faux pax to avoid as new parents.

How To Avoid Money Faux Pax As New Parents

Having a new addition to the brood is an exciting time for young parents; in your hands is a living, breathing new member of the family that you and your spouse have created. That being said, it’s not all rainbows and sunshine when it comes to having a child. Besides having a mouth that depends entirely on you to feed, your mini-me will also inevitably tap into your finances with the child-rearing expenses that are part and parcel of raising a kid. After all, having a child is not simply an emotional commitment; it’s a financial one as well. Some studies even put the average cost of raising a child up to university age in Singapore at $670,000. As parents, it is your responsibility to navigate the challenges of raising a young munchkin while keeping an eye on your financial future.

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