The Big Read: Young couples delaying plans to marry, buy property or have kids amid red-hot inflation, but at what cost?

" the inflation-induced increases in expenses for 2022 for the bottom two-fifths of income earners, the Ministry of Finance said.

After about five failed attempts balloting for Build-to-Order and sales of balance flats after graduating from university in 2019, she and her partner, who works in venture capital, turned to the resale market but baulked at the asking prices. “I come from a very modest family. My dad had to support four children while my mom was a housewife, so growing up, it was an environment where money was very tight,” said the property agent, who declined to give his full name.

Although it is not clear how large an impact the economy had on the fall in births, the number of babies born in the full year of 2003 during the severe acute respiratory syndrome outbreak similarly fell by about 9 per cent from the year before, and only began climbing again in 2005.In the first three quarters of this year, the number of births in Singapore had already fallen some 8 per cent compared with the same period in 2019, before the pandemic.

Between January and September, 16,198 couples were married, up from 14,834 in 2021 and significantly higher than the 13,875 marriages in 2019 for the same timeframes. It estimated a US$310,605 bill for a married middle-income couple with two children to raise their youngest child to the age of 17, up from the US$284,594 projected by the US Department of Agriculture in 2017.

Back in Singapore, financial adviser Jeremy Tiang said that many of his clients, who like him are in their early 30s, have become a lot more conservative over the past three years of frequent market turmoil and are putting off having children because of the cost of raising them.

Source: Real Estate Daily Report (realestatedailyreport.net)

Even before this, it was already difficult for youth to make all these big decisions, especially having kids. Now with high costs of living, it becomes a perfect storm…..

For young couples like Ms Namirah Awang and her fiancée Mr Helmy Rahman, major life goals are often intertwined and a delay in one step of their journey can sometimes have a cascading effect on future plans.

No money how to get marry, buy property and have children ? All three are long term commitmens…that’s why our birth rate is plummeting….I dare not even think of the future my children will be in…

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