Gone are the days of our parents and grandparents having three or more children being comfortably supported by a single income. These days, we are more used to seeing both parents working overtime, accepting extra freelance projects, and trying to start up business ventures from home all to support the expenses of one child while also balancing the time and energy needed for childcare.

The dramatic decrease in global birth rates are often associated with factors such as education, access to contraception, and lifestyle choices, but the most common reason is the high cost of having children. With inflation rates of approximately 3.6% in the Philippines for the first half of 2024, married couples and parents definitely feel the impact of the high cost of raising a child.

Is parenting a privilege of the wealthy? Married couples share their views about financial preparedness being a prerequisite to responsible parenting.  

As young newlyweds in the early years of their careers, Arieanne and Raymond are very much aware of the rising costs of basic necessities and this is part of their decision to hold off having a baby, until they can say they are financially stable.

Without pre-availed medical insurance, prenatal medical appointments like blood tests and check ups range from ₱700 to ₱1,300 while ultrasounds cost around ₱1,000-5,000 depending on the features availed. Factoring in other additional pregnancy expenses such as prenatal vitamins, maternity clothing, and other products that help make mom more comfortable can add up to a bill that couples may not be comfortable paying.

Although many couples believe that welcoming another member of the family is a blessing, they are willing to delay it for the sake of preparedness.

Karen and Ryan are very much aware of the costs and consumerism associated with buying baby’s needs. While, ideally, they would want to buy the safest and best quality products should they have a baby, they also don’t want to overstretch their budget.

New parents are often anxious and excited to buy things to make sure that their homes (and vehicles!) are comfortable and ready for the new family member. Social media content influences what baby products to buy and what brands to patronize and companies have capitalized on this by offering many options and additional features that will make parents-to-be want to part with their hard-earned income. For example, depending on brands and features, basic newborn-compatible strollers start at around ₱3,000 while car seats can be priced upwards of ₱5,000. Cribs, high chairs, and other furniture with all the bells and whistles can easily go beyond set budgets.

Once a couple has conceived, there’s no turning back. Family expenses will definitely balloon from then on, so couples who decide on delaying parenthood are completely understandable.

Mark and Keit see parenthood right now as a nice ideal but with their busy careers as financial advisors and many other personal and professional ventures, they are not sure if they are ready for a baby.

Childbirth in the Philippines can cost from ₱15,000-₱400,000 depending on the hospital and type of delivery. One can of infant formula can cost a minimum of ₱700 with prices going even higher for more premium brands and hypoallergenic formulas. Breastfeeding accessories such as pumps and sterilizers can also drive up the costs even for babies who don’t drink formula milk. Disposable diapers can range from ₱400-₱1,200 per pack while cloth diaper options can start at around ₱1,500 per set.

Proper planning for big and everyday expenses are really a must for would-be parents.

Joan and Ivan both graduated from one of the top universities in the Philippines and they know that the quality of education they received has had a big influence on their successful careers and business ventures. But with tuition fees skyrocketing faster than salary increases, they are worried that they may not be able to provide the same education opportunities that they themselves enjoyed.

The minimum wage for yayas and kasambahays in NCR starts at ₱6,500 and they are legally entitled to their 13th month pay, SSS, PhilHealth, and PAG-IBIG benefits. While public schools in the Philippines generally have no required tuition fees, costs for miscellaneous fees, books, uniforms, and school activities can quickly add up. Public preschools and daycare centers may be partially subsidized by the government but parents can still expect to pay for at least ₱5,000 annually while private preschools can go higher than ₱100,000 per year or more. Private schools can range from ₱30,000 to ₱200,000 per year for elementary and high school.

As costs of living and child-rearing continue to climb significantly higher than those of past generations, parenting can sometimes feel like a privilege that is only reserved for the financially blessed. More and more Filipinos are becoming aware that how our parents managed their budgets while we were growing up had a profound impact on our well-being and our own ideas about financial stability as adults. We worry about our ability and opportunity to provide for the needs and wants of any future children we might have.

For some couples, they believe that the most loving and responsible choice they can make will be to delay or to completely forego becoming parents unless they are sure they can provide their children the quality of life that they deserve.  At the end of the day, there is no right or wrong answer that fits everyone; there is only your informed choice about what really feels right for your family.