A conversation with parents about kids, costs, and having it all

Raising kids in Singapore can be expensive, but is it as daunting as some think?

Christina, 46, a home baker and tutor, and Chern Wei, 45, a music entrepreneur, are parents to three children: 16-year-old Natalie, 14-year-old Noah, and 11-year-old Ava. Ask them about how they manage their finances in such a large family, and they’ll tell you it's all about being practical and having the right perspective. And, that this is what’s helped them build a happy and money-wise home.

We sat down with the couple to find out how they make it work.

When family planning meets financial planning

Q: Did the both of you always want to have three kids?

Chern Wei: (Laughs) Not at all! We planned for one, and two. Before we knew it, number three arrived. No master plan, just life happening.

Christina: Ava (our youngest) was a wonderful surprise!

Q: So, did you feel the pressure to be ‘financially ready’ for three kids? How did you approach that?

Chern Wei: In reality, you'll never feel 100% financially prepared. There will always be something unexpected. For example, I opted to become self-employed right as COVID hit, but I didn’t expect my income to drop to about 30% of what I was earning before. And for four years, we had to make that work.

Christina: That’s why I believe parenting isn’t about spending on the best of everything. Many think: "If I have a baby, I need the best stroller, the best cot, and many enrichment classes." But, if you focus on what really matters—their health, support for their education, and spending time together—you don't need to spend huge amounts of money for kids to thrive and be happy.

Chern Wei: Also, it helps when you have a wife who squirrels away money.

Christina: (laughing) It's true. I stash away money whenever I can.

Chern Wei: It works. She makes sure we have savings. I make sure whatever we do spend on, we can afford. It's a good balance.

Changes, choices, and being money-smart

Q: What are some significant lifestyle changes you had to make as your family grew?

Christina: With three growing kids, meals became a major expense. Eating out regularly just wasn't sustainable. So I learned to cook better. It's cheaper and healthier. And nothing goes to waste—leftovers are packed for school meals.

Noah and Ava told us they actually enjoy bringing home-made meals to school, and that it helps them stretch their allowance as well.

Chern Wei: Private hire vehicles (PHV) or taxis are a last resort for us. And it’s fine: the kids are used to taking public transport or cycling to get around. They get some exercise while also learning to manage their own schedules.

Christina: I did have to adjust my online shopping (laughs). But I also picked up new things along the way, like studying my kids’ textbooks so I could teach them myself. And that helped me save on tuition fees! 

Chern Wei: Another simple but effective one? Polyclinics. No need to go to private doctors for minor issues—use subsidised healthcare and you can save a lot on medical costs.

Q: Any other strategies or hacks to juggle finances and parenthood?

Chern Wei: For us, we buy things in bulk, like meat and fish. Or toilet paper. And we avoid "great deals" that entice us to buy things we don't need!

I also stick to one credit card with a set limit. I may not maximise points and rebates, but the simplicity and control I get over my spending are worth more than any cashback.

Navigating financial boundaries as a family

Q: How do you handle your kids’ requests for expensive things?

Chern Wei: We set expectations early that they don't need the latest, most expensive things.  When Noah wanted a Nintendo Switch in primary four, we suggested that he work towards completing his PSLE first. So, when he came back with good results, he was thrilled about ‘earning’ his Nintendo Switch!

But then, he wanted more games. So we asked, "How do you plan to afford them?”

Christina: That's when he got creative. He asked if he could sell drinks to his friends after their weekly frisbee games. That experience taught him more about money than any lecture ever could.

But it’s not just about teaching them the value of money. We like how our children feel free to tell us about such experiences. Our kids don’t view money as a taboo subject—they understand effort and responsibility, but they also know they have our support.

Chern Wei: That’s really what we wanted—for them to be independent, yet feel safe enough to come to us for help about finances or anything else in life.

Subsidies and support

Q: How does the Government help with families and their finances? Which schemes have you found most helpful?

Chern Wei: The Ministry of Education’s Financial Assistance Scheme (FAS) was a huge help. For about four years, it covered school fees, miscellaneous fees, and even transport vouchers.

Christina: Many assume FAS is only for low-income families, but it's designed to support any family who needs it, even temporarily.

Chern Wei: Some people feel paiseh (embarrassed) about applying. But to us, it was practical.

Christina: It's about perspective—if parents see it as a stigma, kids might too. But we saw it as utilising schemes that are made available by the government to help families like ours.

Words of wisdom for other couples

Q: What advice would you give couples worried about the financial cost of having kids?

Chern Wei: Spend within your means. If it exceeds your budget, just don’t buy it!

Christina: Figure out what are your needs versus your wants. Kids don't need fancy things—they need stability, love, and your time.

Chern Wei: Also, learn to save. Or marry someone who saves for you.

Christina: Exactly. And then stash money away before they spend it. (laughs)

Christina and Chern Wei prove that a happy family isn’t about having the biggest budget; it’s about making thoughtful choices that work for everyone in the family. With teamwork, discipline, and the right mindset, they’ve built a home where their children can grow, learn, and share their experiences. And for Christina and Chern Wei, that’s something far more valuable than money.

Published in Mar 2025