Elevating a household in Singapore isn’t for the faint of coronary heart — not when it’s estimated to price $360,000 on common to lift one baby from delivery to maturity. Even dividing it by 2 a long time, that’s nonetheless $18,000 a yr, per baby.
Multiply that by 2 or 3 and even 5 children, and also you’re principally signing as much as be broke as hell for the following few a long time.
Nonetheless, there are methods to get probably the most out of your kid-related spending, and that’s to enroll in certainly one of these bank cards which can be actually helpful for households.
5 finest bank cards for elevating children in Singapore
| Bank card | Advantages for fogeys |
| Maybank Household & Pals | 5% / 8% cashback at supermarkets, pharmacies, petrol, kid-related retailers |
| HSBC Visa Platinum Card | 5% rebate on eating, groceries, petrol + freebies for youths |
| UOB One Card | As much as 5% quarterly rebate for constant spending |
| UOB Woman’s Card | $1 = 4 miles at supermarkets, child/child shops |
| OCBC Titanium Rewards Card | $1 = 4 miles at malls, child shops, on-line procuring websites |
Maybank Household & Pals Card – 8% rebate in Singapore & Malaysia
I’ve really useful the Maybank Household & Pals Card in one other finest bank card roundup earlier than, however it’s price repeating right here.
This multi-category cashback card is my private fave for getting rebates on each younger mum or dad’s favorite retailers: NTUC FairPrice, Watsons, Guardian, Common, Toys R Us, Yamaha, plus meals supply, petrol and taxis.
You possibly can both get 5% cashback should you spend $500 a month or 8% should you spend $1,000. Judging by how fervent dad and mom get about evaluation books at Common, it’s in all probability not tough to hit the latter in case you have a number of children.
Bonus should you drive over to JB rather a lot: You can too get rebates at Big, Aeon and Tesco in Malaysia… However the actual cincher is cashback at Legoland.
HSBC Visa Platinum Card – freebies and 1-for-1s to maintain your children amused
The HSBC Visa Platinum Card is squarely geared toward households, and it affords rebates in all the standard Singaporean classes: Eating, groceries and petrol. Sadly, the rebate of 5% is considerably decrease.
The redeeming issue of this bank card is that HSBC has put collectively some unique perks in your children, together with free tickets to the Zoo / Night time Safari, free film tickets, 1-for-1 at Timezone, Katapult Trampoline Park, and different enjoyable child recreation locations.
In case your children are on the stage the place they’re simply loopy balls of power, you’ll in all probability get your cash’s price with these freebies.
There’s a minimal spending requirement of $600 a month, and you must spend this persistently for a whole quarter earlier than HSBC will launch your rebates.
UOB One Card – constant rebates for top expenditure
In case you verify assure chop spend $1,000 or $2,000 a month each. single. month. on rearing your brood, it’s in all probability extra price your whereas to go for the UOB One Card for cashback as a substitute.
That is notably in case your spending doesn’t fall neatly within the above classes; for instance, in case you have recurring payments at your child’s enrichment centres and electrical energy and telephone payments to pay.
As long as you hit that minimal persistently, you’re going to get both a $100 (spend $1,000/month) or $300 (spend $2,000/month) payout each 3 months.
For some cause, UOB additionally has a truckload of bank card promotions with enrichment centres equivalent to The Studying Lab and Adam Khoo, which I’m certain can be well-liked with tiger dad and mom in Singapore.
UOB Woman’s Card – $1 = 4 miles at supermarkets & child shops
The UOB Woman’s Card is unique to feminine clients. Presumably, a girl was concerned within the making of your baby(ren), so have her join this card ASAP, as soon as the prenatal exams are out of the best way.
Holders of this card can select one class during which to get 4 miles per $1, and sure, “Household” is certainly one of them (primarily supermarkets and child/child shops).
With the quantity Singaporeans burn on milk powder, diapers and child meals, I wouldn’t be shocked if this bank card can actually get you enterprise class flights to New York. Which might additionally make a fairly good story to inform your children once they become old, huh?
OCBC Titanium Rewards Card – $1 = 4 miles on massive ticket child gear
Making ready for a brand new child in your life? You must know — or will know, quickly sufficient! — that child gear is dear AF.
Gone are the times of letting your baby stroll round bare, slinging her in nothing greater than a sarong, and letting her play with the chickens within the kampung.
Similar to how policemen have modified from shorts to lengthy pants, dad and mom now really feel the strain to spend not less than few grand on garments and footwear from Carter’s, child carriers from Tula, prams from Bugaboo, some fancy high-tech automotive seat, a sensible child gate, plus the most recent iPad on which to observe “Child Shark” in HD.
Which makes it worthwhile to enroll in the OCBC Titanium Rewards Card earlier than you utterly succumb to social media/peer strain. In case you’re going to be spending a bomb, not less than put the cash to work by serving to you earn 4 miles per $1.
As an added perk, an OCBC bank card additionally entitles you to reductions at kiddy amusement parks like RWS, Pororo Park and Tayo Station.
Bonus 1: Bank cards that didn’t make the shortlist
I strove for equal illustration of banks on this listicle, however the fact is that not each financial institution has an overtly family-friendly bank card.
Another bank cards that I thought of however in the end minimize out have been…
American Categorical CapitaCard: Enables you to earn rewards factors at CapitaLand malls, plus free parking should you’re a large spender. Extremely well-liked with primary Singaporeans who like to spend the entire day on the mall, however it’s not very a lot use for anything.
DBS Reside Contemporary Card: Good for lazy dad and mom who don’t wish to over-obsess over which service provider falls underneath which class, because it provides you 5% rebate on-line and on contactless cost (Apple Pay, PayWave and many others.). However you’ll be able to solely spend $400 in every class earlier than you hit the cap, which is on the low aspect.
Citibank Money Again Card: Very auspicious 8% cashback for supermarkets, eating and petrol, however missing in different classes equivalent to bookstores and on-line spending. Good provided that you dine out quite a bit with the children.
Financial institution of China Household Card: Regardless of its identify, the BOC is extra like an leisure card for the younger and single. It provides you 10% cashback on eating and flicks, whereas the rebate for boring necessities like supermarkets and on-line purchases solely get you 3%.
Bonus 2: Different membership playing cards that folks can get
IKEA Household Card + Smales: You’ll in all probability go to IKEA as a household not less than as soon as — even when it’s solely to deposit your baby on the free Smaland play space for just a few treasured hours of kid-free time). It’s a no brainer to enroll in the free IKEA Household Card and Smales membership in your child to earn factors and get reductions.
PAssion Card: Mother and father of the frugal selection (a uncommon breed in Singapore) would recognize the advantages of the PAssion Card, which entitles you to borrow extra books on the library and get cheaper charges at neighborhood centres and PA Water-Enterprise actions. There’s a ton of associate reductions too, like 10% off admission on the Zoo and such. It’s additionally utterly free should you get the PAssion Debit Card via POSB.
Watsons membership: In case you’re the type of mum or dad who’s at all times shopping for chewy multivitamins and kiddie cough drops on the pharmacy, you need to severely think about turning into a Watsons member. It prices simply $5 (for all times!) and you’ll earn factors in addition to get free supply from their on-line retailer.
WRS membership: One of many budgeting suggestions from this energy mother of 5 is to get the Singapore Zoo & Night time Safari annual “season move”, which is known as Pals of Wildlife and offers you limitless admission into WRS parks. A household bundle for two adults + 2 children prices $295, which takes simply two visits to interrupt even.
Kinokuniya Privilege Card: It’s in all probability more healthy to inculcate a love of studying and studying from a younger age, quite than to drive your baby to go for tuition nonstop afterward. To encourage your younger bookworm, I’d suggest signing up for a Kinokuniya Privilege Card. It prices $21.40 a yr and entitles you to 10% off all books at Kinokuniya.
Do you could have a parenting tip to share? Inform us your monetary methods for elevating youngsters in Singapore.
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