Home Milestones Children

Children

The New Savvy looks at the topic of children from A to Z. A woman’s decision to have children brings with it questions about the financial impact of raising a family. There are the medical costs of prenatal care and the delivery itself, baby equipment, childcare, education and tuition, as well as the potential change in household income should a mother leave the workforce. Here are also many savvy tips on instilling good money management habits in the next generation – The New Savvy discusses financially foresightful motherhood tactics too.From the first seeds of thought about potential motherhood, through pregnancy, birth and raising a child, a woman will find her life impacted financially. She may be thinking about whether the family can make ends meet if she takes several months off work or even decides to stop working altogether to care for her child. Pregnancy brings many potential money-spending pursuits, everything from buying maternity clothes to pre-natal classes, medical screenings and outfitting the nursery. The birth of a child usually means a hospital visit, or a stay of some days, so delivery costs need to be factored into a young family’s budget. As a baby grows into a toddler, and then a child, so does the wants and wishes grow. Toys, clothing, schoolbooks and appetites increase, as will the expenditure you make over the 18 years or more that it will take to raise that child to be an independent earner.A motherhood will tell you that having children has enriched their life. But for anyone who is not a parent, there may be shades of grey in the proposition of parenthood. That’s why this motherhood guide and advice manual is here. Written by women, for women, it is a platform to learn more about the experience of being a mother and how children affect our financial thinking.The sheer number of thoughts that spring up after a pregnancy test reads positive is huge. There’s so much to organise and think about during those euphoric nine months – and this guide covers them all. It offers ideas on preparing yourself financially for the baby’s delivery. Every woman needs to know her basic rights regarding the length of maternity leave, benefits retention and perhaps even salary paid during her leave. Read about them here.As children grow, their financial needs change, and it’s essential that parents know what they’re getting into. There will be fun craft classes, music lessons (which might reveal the next Beethoven), school fees, birthday parties and many more expenditures for which parents will be shelling out.Once mothers have their own financial priorities set, the next step is to look ahead. With an eye to a future generation of smart money managers, The New Savvy’s guide speaks to parent’s enforcement of positive financial behaviour as they role-model for their kids. Developing smart savings habits is one of the best teachings a parent can give a child.

Social egg freezing is perceived by a lot of women as some form of biological insurance. Technically referred to as elective oocyte freezing (EOF), this is a go-to option for some women. At least, those who choose to start...
Financial Advice For Expecting Mothers In Hong Kong Getting some sound financial advice while you are pregnant is probably far from your mind right now. Pregnancy brings a mixture of different emotions. You feel excited, happy, anxious, and even dreadful...
Being a parent is not an easy task. It can be extremely chaotic trying to balance the demands of work, household chores, and your child's school activities. Mindfulness is one of the ways to make our parenting journey a less stressful...
Like any parent, the last thing you want is to see your own child suffer from bad money decisions when she or he becomes a young adult. Habits start from young and right. As the primary caregiver, it is your...
Want to raise children who are financially savvy and have enough savings to tide over unexpected life events like unemployment and unexpected healthcare expenses? Financial resilience starts at a young age. Most experts would recommend to educate them on...
Single mothers in Singapore are increasing in number. Statistics reveal that between 2007 to 2011, there is an average of 550 registered births each year that did not have a father’s name. That means in the span of 5...
Many parents often voice out that they have children who do not know how to spend their money wisely. This may be subjective as the concept of money is different for everyone. Some may feel that they should purchase...
Money lessons are often hard to integrate into your child’s life when they are occupied with school and homework. Thus, school holiday is the perfect time for your children to take a break and focus on other aspects of...
Money is a key tool in life and is crucial for survival. As a matter of fact, basic essentials for living such as food and water has to be bought by money. That is why we as adults, know clearly...
The Real Cost Of Giving Birth In Hong Kong Giving birth in Hong Kong will entail costs - and you have to be prepared for it. You do not want to end up falling short in funds when you are...
47,801FansLike
10,988FollowersFollow
2,301FollowersFollow

Recent Posts