$1Million To Raise 2 Kids


It costs about one million dollars to raise 2 children in Singapore.

Don’t be too alarmed. Let’s take it positively – you may treat your children as “assets” and include this cost as part of your wealth. 🙂 So, add $1 million to your net worth if you have 2 children. $2 million if you have 4 kids.

The $1 million figure came (indirectly) from today’s Sunday Times, which did an estimation of the costs of raising a child in Singapore:

  • Pregnancy and delivery: $4k to $20k
  • Infant care: $20k to $30k
  • Child care: $25k to $80k
  • P1 to JC education: $40k to $70k
  • University education: $100k to $500k

Add up the mid-points in each of the above 5 categories, you get $445k.

Throw in some additional allowances for the child, take an extra holiday trip every couple of years, and it’s not hard for you to spend $500k on your child over the 20 years (or so) of his pre-independence life. Multiply that by 2 (for 2 children), and you get the cool $1 million figure.

Let me state the obvious: Bringing up a child is costly! Especially in Singapore.

So, rather than incessantly importing foreigners to artificially top up the population (with obvious negative impacts, adding burden to our already stressful lives), maybe it’s time for the government to once again revise upwards the baby bonus, parenthood tax rebate and the various child tax reliefs.


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  1. Wow…who actually came up with that figure..both hands up to support it. Though, I believe that the figure could be much higher given that kids nowadayds are in the future would demand more high-end stuffs. Guess what..now we already started seeing teens going to high-end restaurants to dine.

  2. Wow…that figure is really scary. It might just scared off couples who planned to have a baby.

    But anyway, living costs in Singapore only keep increasing and it’s not enough just to depend on a single job seriously. Though that can be done, it’s tough for life.

    We should look for multiple streams of income and of course protect wealth in times of crisis. That’s from my own experience. Though I have income from multiple streams, I still look for other opportunities.

    Sorry for being kiasu 😛


  3. $100-500k for a university education?!
    Maybe if the child studies overseas or pursues a Master or a PHD. But for a regular 4-year undergrad course, it should cost no more than $50k

  4. @Sam:

    Overseas education can cost 50k-150k$ depending on the school you attend.

    But this study overestimates, in a way, discourages people to have kids. Makes the situation worse. Basically tell Singaporeans what they already know.

    Instead, it should try to highlight a few bright spots in having kids too.

  5. a big hoax and wrong calculation for university: for a degree, the course fee is now around 30k for a normal 4 years course, and maybe around 60k for those medical/law course. the calculation obviously make the value so high by not taking into account of tuition grant, which applies to all. living expenses cost around 500-1000 a month, which will be 25-50k for the period. hostel fee is around 250 per month, private room around $500 per month, total will be 0(stay at home)- 25k.
    total everything together u get:

    tuition: 30k-60k
    allowance: 25-50k
    housing: 0-25k

    total university degree price: 55k-135k

    total everything up again:
    Pregnancy $4k to $20k
    Infant $20k to $30k
    Child $25k to $80k
    Education $40k to $70k
    University $55k to $135k
    holidays $25 to $75

    lower point: 169k
    mid point: 290k
    high point: 410k

    for 2 kids:
    lower point: $300k
    mid point $500k
    High point: $800k

    the cost of the second kid is usually slightly lower due to more experience.

    inerestingly, my results is halved of their calculation

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