SINGAPORE: A man shared on social media that he and his wife have a combined income of S$10,000 but still feel the pinch of the high cost of living.
Posting anonymously on Reddit’s ‘Ask Singapore’ forum, the man wrote they currently have a ‘4-year-old daughter and are thinking of having a second child’ soon.
However, with all the prices of commodities going up, the couple can’t help but feel discouraged about expanding their family.
Moreover, as part of the ‘sandwich generation,’ the man said they are also responsible for giving their parents a monthly allowance.
“I know both our salaries are above the median in SG, but I can’t help but still feel the pinch from the rising cost of living as a sandwiched class,” he said.
“We are not huge spenders and do not spend unnecessarily on enrichments or luxurious holidays,” he added.
He then asked other members in the forum if they were experiencing similar challenges, writing, “SG parents, are you feeling the pinch of raising kids with the high cost of living?”
“When our parents do not plan their retirement properly, it’s the kids who suffer”
In the Reddit thread, many Singaporean Redditors chimed in, sharing their own experiences with the financial strain of raising a family.
Several echoed the man’s sentiments, saying they, too, felt squeezed by the rising cost of living despite earning decent incomes.
One Redditor shared, “Same boat here. The take-home pay is S$16K, and we cannot afford a second child and no energy for a second one. My child is the same age as yours.”
Another commented, “Pregnant. The combined income of S$11K. Yes, feeling the pinch already because I don’t have a smooth pregnancy, and the baby is not even born. My expenses will rise as we are getting a helper.
Our parents are ok on their own financially but stated they will not be involved as grandparents. We are stopping at 1. If I have a sickly baby, we are pretty much screwed.”
Others mentioned how providing for young children and ageing parents put constant pressure on their finances. One Redditor said, “I feel you, bro. When our parents do not plan their retirement properly, it’s the kids who suffer.”
Earlier this year, other Singaporeans also shared some tips on how to cope with the rising cost of living in another Reddit thread.
Most said they’ve given up the little luxuries that add up over time, such as buying coffee or milk tea during lunchtime, and have cancelled gym memberships and online subscriptions that they’re barely using.
Read more: Rising cost of living: Stuffs Singaporeans are giving up to cope with the squeeze