How Much Does It Cost To Raise A Child In Singapore? No Frills, Just Bills

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Would you rather spend the money on something else, like travelling the world, or would you be willing to fork out over a quarter mil on a child?

If you are thinking of starting a family, you will want to think really hard about the financial commitments involved. theAsianparent has found that to raise just ONE child from birth till age 21, you could spend S$340,000.

This number was calculated in 2012. TODAY estimated in 2016 that raising a child could cost anywhere from the low end of S$200,000 to the average S$360,000 and the extreme S$1 million.

Cost of raising a child in Singapore

Considering most of us will probably go down the “average” route to raise a child, we’re looking at spending around S$360,000 PER child.

This figure accounts for the medical fees incurred during pregnancy and delivery, infant care, childcare, enrichment activities, education costs from preschool to university level, basic food and shopping (not including inflation).

The bare necessities

When we say basic, we mean really basic. None of those glittery unicorn tutus with fairy lights attached to it. So if you’re looking to splurge here and there, other factors that increase or reduce the cost include:

  • the type of schools (local or international) your child goes to,
  • whether you intend to pay for your child’s university education,
  • the number of overseas holidays you take per year,
  • the insurance or education plans you invest for your child,
  • the types of enrichment activities (golf or ballet) you send your child to,
  • the number of Starbucks drinks you decide to buy with your child.

The calculation also does not take into account domestic help, rent, furniture and medical treatment for your children. That can easily add an additional $200,000 per child.

So, let’s just raise that number up to a conservative S$500,000, shall we?

Let’s look at the breakdown: how much does it cost to raise a child in Singapore (on average)

Stage 1 (pregnancy to birth): Around S$5,000

If you go for the most affordable option of delivering your child at a public hospital, you will only be spending about S$5,000 (including pre-natal scans, buying supplements, etc.).

cost of raising a child in singapore

Source: Ministry of Health

Stage 2 (birth to 3 years old): Around S$25,000

This amount includes the starting essentials like baby diapers, formula milk (if breastfeeding isn’t possible), toys, a stroller, clothes and other basic baby accessories.

You can also opt to get baby insurance for your little one to protect your family’s finances in case of an emergency.

Stage 3 (toddler): Around S$20,000

More clothes, shoes, toys and now, books! It’s time to start your little bub’s education and depending on which kindergarten you send them to, this is the estimated cost you should expect to spend.

Stage 4 (school-going years): Around S$60,000

When they start school, and most Singaporean kids go to government schools, the cost of education is low. But you still have to buy uniforms, textbooks, exercise books, stationery, their school bag, and give them a daily allowance. The list seems endless.

If you’re a kiasu parent, you will want to sign them up for tuition classes, extracurricular activities and more. This will add up.

Even for the most basic 10 years of your child’s school-going life, S$60,000 is a reasonable amount to spend in that period.

Stage 5 (college and university): Around S$100,000

A 4-year degree cost at a local university will set you back about S$44,000. Factor in their daily allowance, buying textbooks and cost of living… well, a S$100,000 is easily gone.

The main stages of their life may only add up to about S$210,000 but don’t forget the doctor and dentist visits in between, buying them birthday and Christmas gifts every year, taking them on family holidays and more!

With all of that factored in, you will be looking at spending about S$360,000 until the day they get their first paycheck and hopefully start giving you money in return.

A good investment? Maybe. But this is the reality of how much it costs to raise a child in Singapore with no frills, just bills.

Do you think you will be having a child after knowing the cost of raising one? Let us know in the comments!

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