Toddler
Childcare to kindergarten
With busy schedules and limited options, parents often struggle to find ways to care for their children. One of the many options is to enroll your child in infant or childcare.
Plan out which Child Care Centre is near your house and its costs Use the LifeSG App to source for close by centres. Search for preschools | LifeSG – Services
Singapore Citizen children enrolled in licensed childcare centres are eligible for a basic subsidy of up to $600 per month for full-day infant care and up to $300 per month for full-day childcare. Working mothers with a gross monthly household income below $12,000 may qualify for additional subsidies.
Subsidy applications are submitted to ECDA through licensed childcare centres. Please visit their website for more details.
ECDA | Subsidies & Financial Assistance
Get a Hospitalisation Plan: Apply for an Integrated Shield Plan for your toddler.
Your life protection is their main protection – Upsize it: Surprisingly, this is the next priority, rather than plans on the child’s own life or health. Just as how we cannot safeguard the unborn baby directly except by safeguarding the mother, your newborn child’s financial security depends mainly on how well you as parents are insured against loss of your income in case of death, serious illness or disability. The child has no income of his own for which to insure, but depends on yours. So, now that the baby’s here, you need to have more protection – for him or her.
Critical Illness Plans: This can be considered as a third priority, if budget allows.
Start investing a small amount each month for your child.
- Open an investment account specifically for your little one.
- Invest $100/mth to this fund in a portfolio made up of low-cost, globally diversified funds. Increase this amount by $50/mth each year (or what you can afford).
By the end of 15 years, you would have accumulated roughly $43,000 based on a Growth portfolio’s return of 6.21%*. This amount can be used for their studies or as a gift for them.
*Disclaimer: This is for illustrative purposes only, based on historical return of a low-cost, passive global indexed growth portfolio comprising 80% stocks and 20% bonds. Past returns are no guarantee of future returns. A Growth portfolio may or may not be suitable for you, as it depends on your time horizon and risk appetite.
Optional Steps
Being able to track and see where your expenses go is like having control over the steering wheel of your financial journey.
Set up a budgeting system using our 3-account system: Find out more on our financial guidance page, where we suggest ways of how you can organize your cash flow using the 3-Account Method.
Click here to read our OwlRubrics: Implementing Personal Budget.
Download this budgeting file: Download our budgeting Excel file to easily track your monthly income, fixed, and variable expenses all in one place.
In Singapore, vaccinations for newborns under the National Childhood Immunisation Schedule (NCIS) are fully subsidised for citizens, ensuring that families do not incur any out-of-pocket costs when accessing these essential services at clinics or through home-based options.
Additionally, parents have the option to purchase extra vaccines that are not covered under the NCIS, allowing them to provide additional protection for their children if they choose to.
Vaccinations can be done at Polyclinics or GPs.
Skip the queue and get the convenience by booking home-based vaccination service with telehealth providers.
In event of your untimely demise, if you have a newborn and do not write a will, the distribution of your assets will be determined by Singapore’s intestacy laws. This means that your estate may not be distributed according to your wishes, which can lead to potential disputes among family members.
Additionally, without a designated guardian in place, the court will decide who will care for your child, which may not align with your preferences.
Writing a will ensures that your wishes are clearly stated and provides protection for your loved ones.
Plan ahead with MoneyOwl’s End‑of‑Life and Estate Planning e-book to understand estate planning, secure your wishes, protect your loved ones, and make informed end‑of‑life decisions.
This e-book will help you to understand how to ensure your wishes are honoured and assets are distributed smoothly, using essential tools like wills, CPF nominations and trusts.
Get acquainted with the different government support schemes for parents.
Understand the types of insurance you and your child needs to be adequately protected.
Understand the steps needed to plan financially for your child’s education.
This e-book demonstrates how to optimise government grants, the types of insurance needed for adequate protection, how to grow your money so you can plan for your child’s education (and your retirement) as well as how to plan for all those big what-if scenarios.
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