How Much Does It Cost To Raise A Child In Singapore Till Age 18? At close to $200,000, this is similar to a CPF Full Retirement Sum.
By now, most of us parents should already know that it can be very expensive to raise a child in Singapore.
Despite the government providing an extensive range of child subsidies, parents should still expect to spend a significant amount of money on their kids.
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Stage 0: Pregnancy-Related Cost – Estimated Cost – $5,000 to $15,000
Stage 1: Baby To Toddler (Year 0 to 4) – Estimated Cost (Year 0 to Year 4) – About $13,640 per year
Stage 2: Kindergarten (Year 5 to Year 6) – Estimated Cost (Year 5 to Year 6) – About $6,720 a year
Stage 3: Primary, Secondary School, Junior College (Year 7 to Year 18) – Estimated Cost (Year 7 to Year 18): About $7,700 per year, per child
Total Cost Of Raising A Child In Singapore (From Age 0 to 18) –
| Total Cost | $170,400 |
The calculation above is a conservative estimate that does not include additional child-related expenses we will likely incur such as bringing our kids out for leisure activities, overseas holidays, pursuing their hobbies or taking up private tuition or enrichment classes. It also assumes that we do not engage external help such as hiring a foreign domestic worker once our kids start full-day kindergarten.
In all likelihood, we can expect to spend about $1,000 a year on insurance premiums, $1,000 for a simple overseas trip, $500 a year on leisure activities within Singapore and $500 on celebrations and presents for your child. This adds up to an additional $3,000 a year, or $36,000 over 18 years..
How Much Does It Cost To Raise A Child In Singapore Till Age 18? The total cost is likely to easily be about $200,000 per child till age 18.
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