About $230,000 is needed to raise a Singaporean child

Birth to 4yo:

Living expenses: $600/month for 4 years @ $28,800
Total cost in 2012 dollars: $28,800 x 1.1 inflation = $31,680 approximately

4yo to 6 yo:
Living expenses: $600/month for 2 years @ $14,400
Kindergarten fees: $120/month for 2 years @ $4,800
Toys and misc: $300 for 2 years
Total cost in 2012 dollars: $19,500 x 1.05 inflation = $20,475

7 yo to 12 yo:
Living expenses: $600/month for 6 years @ $43,200
Primary school fees with tuition, CCA and books: $14,000
Toys, trips and misc: $900 for 6 years
Total cost in 2012 dollars: $58,100 x 1.15 inflation = $66815
13 yo to 16 yo:
Living expenses: $600/month for 4 years @ $28,800
Secondary school fees with tuition, CCA and books: $12,040
Gifts, trips and misc: $600 for 4 years
Total cost in 2012 dollars: $41,440 x 1.1 = $45,584

17 yo to 19 yo for poly females or 21 yo for poly males:
Living expenses: $600/month for 3 years @ $21,600
Poly school fees and books: $40,000
Misc: $1000
Total cost in 2012 dollars: $62,600 x 1.075 inflation = $67,295
Minimum cost of raising one kid in today’s dollars: $231,849

If you find the figure ridiculous, the Singapore’s state media The Straits Times also projected it between $190,000 to $700,000 [Source]

Advertisements

What do you think?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s