HOW MUCH IS FAMILY PLANNING ACTUALLY COSTING YOU?

It's always prudent to be financially sound and savvy - especially if you're planning to start a family. Find out how you and your partner can map out a financial plan that is realistic, based on advice from parents and experts.

- Mary Wu

Growing your family with a bouncing bundle of joy is great news, and to properly provide for your new addition it's important to consider the various aspects of family planning. Beyond the usual hospital visits, scans, childbirth, cribs and pumps, there might be additional factors such as fertility, unforeseen complications and, of course, the marathon of seeing your newborn through to adulthood.

WHAT THEY DIDN'T TELL YOU ABOUT... HAVING A BABY

You're raring to settle down and start a family, but have you considered how much you'll need financially? Let's be realistic: Having children costs money. The key is to plan early to ensure that you're well-prepared for the road ahead.

"Starting small is better than not starting at all." - this is something that financial service manager Samuel Goh often tells his clients who are starting their family planning. The father of three estimates child-rearing expenses to comprise 20 to 30 per cent of one's income as a general guide.

"Costs involved before a baby is even born include prenatal vitamins, fertility treatments if needed, and baby essentials. This can cost $5,000 and upwards. Next are the gynaecological consultations, which cost about $100 to $300 per session. Hospital fees aside, birth plans include doula services, birthing classes, and even birth photography - this can cost upwards of $3,000," he says.

To support Singaporeans with the costs of conception support, and maternity and newborn care, the Government offers a number of financing schemes covered by Medisave or Medishield plans (with the exception of the Assisted Reproduction Technology Scheme, which is a Government co-funded scheme).