Having children’s never easy, especially with Singapore’s high cost of living. To mitigate the cost, the government rolled out the Baby Bonus scheme, where cash rewards are given to encourage Singaporeans to have more children. With the Baby Bonus, parents will need a Child Development Account (CDA) to receive grants and cash rewards from the government. So how does the CDA work? Is there a way to make the most of it? Here’s a quick guide on how to maximise your child’s CDA account, to get the most out of your Baby Bonus rewards! TL;DR: How To Maximise Your Child’s CDA Account Open your CDA with a bank with high interest rates Max Out the Government’s Dollar-For-Dollar Match Buy an Integrated Shield Plan that is MediSave-Approved for your child Use your child’s CDA to pay for a bulk of his/her expenses What Is The Child Development Account (CDA)? The CDA...