After I announced my pregnancy, friends and acquaintances alike plied me with offers of pre-loved clothes, cribs, strollers and baby carriers – all still in good condition. While the design of the items may not necessarily have been my first choice, it hardly mattered when I added up the amount of money I was saving. A brand new crib or stroller would have set me back a few thousand dollars at least, and the money saved was put to better use such as investing in a low-cost index fund to save for my child’s education needs.
As mentioned above, raising a child in Singapore is a costly affair, especially when you factor in the cost of tertiary education. A local university course typically starts from $40,000 for a four-year programme while overseas education can hit upwards of $200,000. This does not even take into account the rising cost of education; these prices will certainly be much higher by the time my baby is ready for university. This is why I’ve started setting aside $300 every month into a fund that offers a minimum of 4.75% rate of return. That works out to be about $85,000 in 20 years and over $130,000 in 30 years.
The further I ventured into the world of pre-loved, the more I realised how wrong I was to turn my nose up at secondhand items. In this consumerist society we live in where we buy (and throw) things with dizzying nonchalance, the amount of waste that gets accumulated is staggering. There’s zero shame – in fact, plenty of advantages – in going the pre-loved route. If you’re a new mum looking to cut costs and reduce waste, hopefully this article will inspire you!
Victoria Tan is a new mother-of-one navigating the weird and wonderful journey that is parenthood. Even amidst the sleep deprivation, breastfeeding woes and endless diaper changes, she’s finding joy in rediscovering the world through her son’s eyes.
