We want to give our kids the world since they are the biggest gift we've ever had, therefore we do our best to provide for them.
Due to the increasing cost of raising a family and the scarcity of financial resources, we have narrowed our list down to the top 4 best presents you may give your child this holiday.
1. Gifts of experience
As parents, we naturally want to spoil our kid with lots of presents and compliments. We’d do anything to see our kid’s face light up with joy when we surprise them with something they’ve been wanting.
The question is, what should we give our kids as presents and rewards this holiday?
We’ve always been receiving gifts like new toys and technology. Instead of showering our kids with material goods, we can offer them the gift of experience by signing them up for a community service project that will teach them empathy. This is what Christmas is all about~ giving and connecting to other people. In an article published in the Channel News Asia (CNA), it was discussed how volunteering can assist young children in developing a sense of purpose in their lives. By working together toward a common goal, families may strengthen their bonds while teaching their children valuable life lessons like compassion and kindness.
Why not start encouraging volunteerism as a reward to your children? As parents, we are sometimes too focused on giving our children the greatest education and tend to ignore the necessity of teaching them empathy through first-hand experience.
2. Classes for Personal Growth
More and more parents are realizing that encouraging their kids to use their right brain (their creative side) is an important step in raising well-rounded kids. Enrolling them in classes for personal growth is a great approach to encourage their imaginative skills and authenticity. However, if you sign up for too many courses, you may find yourself spending a lot of time, effort, and money. For example, Methodist Preschool offers an Art program that costs $250/ per child while Strarrific offers $720 English classes for 12 sessions. These enrichment programs can be quite pricey, so it’s important to weigh the pros and cons before deciding to enroll your child.
The early years are crucial for shaping your child’s personality and encouraging their natural curiosity and imagination. This typically does not require elaborate and pricey enrichment courses. Giving your child a head start in life doesn’t require a lot of money. Make some time to think about it and arrange free or cheap outings, like exploring nature, with animals and plants. This will help kids develop the habit of paying closer attention to their immediate environment. You can also help them widen their imagination while they learn about the environment by having them gather a variety of dried leaves to use in crafts. Children learn best when they are at ease.
Giving your young children the opportunity to pursue interests they’re passionate about has several benefits, including promotion of healthy brain development and fostering social interaction. The vast majority of parents in Singapore who were polled by The Asian Parents agreed that play is the best way to foster children’s creativity. Therefore, children’s activities should be implemented through play rather than assessment books.
So instead of worrying over which after-school activities to enroll your child in, consider putting them in an outdoor classroom where they may develop their imagination and problem-solving skills to the fullest. You can invest the money you would have spent on pointless enrichment classes into your retirement fund, which will eventually benefit your child more.
3. Vacations
Taking them on vacation is part of the top list since it gives them exposure to the world, aside from the country they belong to. It broadens their horizons and encourages them to consider new perspectives. Our kids benefit from getting out of the house and seeing the world as part of their education. You may educate them about the world beyond what they usually experience in Singapore by taking them hiking and showing them plants, trees, and animals they would never see in the city. Taking children to a museum is more effective than using a computer to educate them about history, art appreciation, and architecture since the subjects come to life before their eyes. There is a richness of new sights and adventures to have.
Additionally, when you’re away from home, you can focus entirely on your kid, which is something that’s quite hard for parents to do in a place like Singapore. There will be no distractions from work or household tasks, so you can focus on bonding with your kid.
Taking your kids on a trip is a wonderful opportunity to encourage their natural sense of wonder. By doing so, they are prompted to question other beliefs, broaden their horizons, and venture unknown adventures. We were always instructed to eat quietly, so we couldn’t understand why Japanese folks slurped their food so loudly. We were also taught to shake our heads when we say no, but why are there people in western areas, where they shake their heads as a sign of yes?
So many chances to educate, and the best way we can teach our children other cultures without judging them is through travels. Maybe one day the world will be a better, more welcoming place because of the values we instill in our children now.
Yes, trips can break the bank, but there are less costly ways to accomplish the same things. Whether you decide to travel on western countries or remain inside South East Asia, the most important thing is that you make the most of the experience for your child.
4. Retirement For Yourself
Spending on yourself can help you stay well, happy, and prepared for the future, all while ensuring that you have enough money to provide for your child in the here-and-now.
For Singaporeans to retire comfortably, they need to have saved at least S$600.000, according to Yahoo Finance (2022). Note that this excludes other expenses such as medical issues, emergencies, and other exigencies. For this reason, it is crucial to ensure that you have long-term financial security and a retirement plan. While we work hard to secure a bright future for our kids, we must not forget to prioritize our own needs. In this way, our kids won’t have to worry too much about our financial situation while they make decisions about their futures. Since we can support ourselves, they could take a year off if they wanted to travel the world. When they have confidence in their parents’ financial stability, they would seize the opportunity to take their profession overseas without hesitation. If they’re the entrepreneurial kind, they could want to launch their own company, and a personal retirement savings plan would offer them the security to do so.
That’s why your pension fund would make a great present for your child/children.
Financial resources are not the only thing needed to raise a child. The best gift you can offer your children is your undivided attention and love because you are ultimately responsible for their upbringing. Planning ahead will allow you to fully enjoy and appreciate your time together. Wishing you all a happy holiday!