There is a myriad of reasons why people forego having children. However, the underlying theme for all of these reasons is money. So how much does it cost to raise a child in Singapore?
over the course of childhood), you will be responsible for their health insurance premiums and any out-of-pocket medical and dental costs.
However, if your child is allowed to attend an international school, these costs can increase to S$17,000-S$48,500 per year. Enrichment classes. If your child takes 3-4 enrichment classes per year throughout their education, the total cost of these classes can increase to over S$70,600. They also do not have to pay any standard miscellaneous or supplementary fees. Furthermore, tuition fees for post-secondary education institutions are also highly subsidised with additional schemes available for Singaporeans that can reduce costs by up to
However, whether you decide to stay in your current home or upgrade, you will likely spend money on furnishing your child’s room—and then re-furnishing it several times later to match the age. Calculating how much you’ll spend on your child’s room varies as children require different items at different stages of their life.
It is possible that a couple can spend modestly and save money on having a child. For instance, if they qualify for the maximum government subsidies, have familial help while at work and don’t contribute to university tuition, total costs can decline to less than S$100,000. However, considering all the things we did not include in our calculations, that figure can still easily surpass our approximation.
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