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Here's how to maximise your child's Child Development Account (CDA)

April 05, 2021
The Straits Times
Having children’s never easy, especially with Singapore’s high cost of living.
To mitigate the cost, the government rolled out the Baby Bonus scheme, where cash rewards are given to encourage Singaporeans to have more children.
With the Baby Bonus, parents will need a Child Development Account (CDA) to receive grants and cash rewards from the government.
So how does the CDA work? Is there a way to make the most of it?
Here’s a quick guide on how to maximise your child’s CDA account and to get the most out of your Baby Bonus rewards! ....

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Best financial resources for single mothers in Singapore

March 06, 2021
Pexels
Key highlights
Single mothers can save on various pregnancy costs (including pre-delivery expenses) through the Medisave Maternity Package
The government matches every single dollar a parent puts into a Child Development Account (CDA) under the Baby Bonus Scheme
There are various subsidies available to single parents who need to place their children in infant care or childcare
The average cost of raising a child in Singapore is estimated to be $1,500 per month. Given that a married couple’s average monthly household income stands at $8,352 and nearly 18 per cent of that combined income goes toward providing for a child. ....

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Budget debate: Parents who have second babies from January to get up to $9,000 in Child Development Account

The Straits Times
About 12,000 children will benefit annually from the higher funding.PHOTO: ST FILE
https://str.sg/JVcQ
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