The reporter had an interview with MSc. Nguyen Thu Giang - personal financial planning expert at FIDT - to better understand the role of finance in deciding to have children, as well as what couples should prepare for if they want to have children in the next 1-2 years.
- What role does financial factor play in the decision to have or not have children of current couples, young expert?
If you are wondering this question, take time to research and calculate carefully before making a decision. For example, the cost of raising a child to adulthood in big cities can be up to 2 - 3 billion VND, equivalent to about 12.5 million VND/month for 20 years.
A child not only needs initial financial resources but also a long-term commitment. The cost of high-quality education alone can reach hundreds of millions of VND per year, not to mention the housing prices in Hanoi or Ho Chi Minh City are increasing at a dizzying speed.
- With an average income in urban areas, can a young family "rear-up without pressure"?
Currently, the average cost of raising a child in Vietnam ranges from 10 - 20 million VND per month.
This means that if the total income of the couple is about 30 million VND, the cost of children can account for more than 40% of the family's income - a very high rate and needs to be carefully considered.
- How should couples prepare financially if they want to have children in the next 1-2 years, expert?
From pregnancy until the child is 1 year old, the minimum cost to prepare is about 100 million VND, divided into three main stages.
Pregnancy: Vaccination, periodic pregnancy check-ups, preparation for newborns.
Childbirth: Maternity and childbirth expenses, hospital fees.
Children's first year: Vaccination, health care, hiring someone to look after them if needed.
These are outstanding expenses, excluding basic living expenses such as food, diapers or daily clothes.
Therefore, the task of young mothers is to plan their finances fully, including both regular expenses and large expenses, at least until the mother can return to work.
