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Cost Of A Baby In Singapore

We have given you tons of advice on weddings and housing, helping you prepare for a life together! You are at that point in your life where you have to make another big decision, to have a baby or not to have a baby? (Or you’re already expecting if that’s that case, CONGRATULATIONS!)

As we all know, raising a kid is no easy feat especially in Singapore where you will find yourself spending thousands of dollars even before the baby is born!

Cost Of Prenatal Checkups: $6000 – $29,500

Prenatal Check-Ups – $1000 to $2000

Take note that your the trimester begins on the first day of your last period which means, which means by the time you find out that you’re pregnant you probably enough time to schedule in 2-3 check-ups in your first trimester.

Following that, gynaecologists might offer a prenatal package which is usually a minimum of $1000 excluding supplements.

Baby Supplies – $4000 – $27,500

As the due date draws closer, you will start preparing for the baby’s arrival. That means purchasing everything that’s needed such as clothes, milk powder, and diapers. Setting you back between $4000 and $27,500 on baby gear alone. No need to worry just yet, you won’t spend this amount immediately, it will be accumulated over time!

ItemsCost
Crib$200-$2000
Crib Mattress$50-$400
Bedding$50-$500
Stroller$150-$1600
Dresser$200-$1000
High Chair$50-$300
Feeding Equipment$50-$400
Diaper Bag$20-$500
Clothes$800-$2500
Diapers$700-$1200
Formula$1100-$11,000
Misc$100-$2000

Check out Babble for a detailed list

Cost Of Delivery: $6000 – $19,000

Hospital bills can cost anywhere between $6,000 to $12,000 for a normal delivery and $10,000 to $19,000 for a C-section. This depends on the ward that you will be staying in, the type of hospital and if you’ll be opting for an epidural or any other side services.

TIP: Make use of your Medisave maternity package, this helps to cover the cost of your prenatal expenses as well as delivery expenses such as hospital room stays and delivery.

Cost Of Raising A Child: $18,000/Year

A baby bonus (varies on birth order) will be given after you have given birth to help cover expenses. A Child Development Account (CDA) is also awarded to help you save for your child’s future needs.

A child can cost you around $18,000 a year and approximately $360,000 at the end of 20 years. So, it’s time to start saving for this because a child is going to be your biggest investment!

Tips:

Here are some tips that could help you save some money and lighten the financial load:

  • Forego on nursery furniture
  • Head for more affordable milk powder or consider getting them from JB
  • Say “Yes” to hand me downs
  • Download a money tracking app
  • Join a community that discusses other money savings tips

 

Check out our blog for more unbiased opinions on your personal finance journey.

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