PRs & Foreigners, $800K is what you need to raise a child in Singapore

Let's look at the cost of raising a child in Singapore for PRs and foreigners. 

Recently, we published an article on the cost of raising a child in Singapore for Singaporeans. It was a conservative breakdown on the cost not including the effect of inflation and university education. Now, we have done the same for PRs and foreigners who intend to raise their children in Singapore. Majority of the costs remain the same – the price hike is largely seen in the education sector.

Phase 1: New Born (1-year)

It is quite common to spend a lot of money during the first year after giving birth to a child. The frequently needed items such as diapers, formula milk, baby hygiene products and baby food need to be topped up every month. There are also items that you need to get just once such as a pram, car seat, crib, milk bottles, pacifiers and toys.

During the first few months, you may visit a pediatrician to ensure that your baby is growing healthily. You will need to ensure that your child takes the mandatory vaccinations and you can expect to pay about $1000 or more on these vaccinations. As both parents usually work, it is very common for couples to hire a domestic helper to help take care of the baby.

Read this article for further breakdown.

Phase 2: Baby to toddler – till 7 years old

Child care / Kindergarten

The common practice is to enroll your child in playgroup, nursery and then in kindergarten before they head off to primary school.

The above cost based on My First Skool

Miscellaneous/ Items needed

You will still need diapers, milk formula, baby hygiene items, food, clothes (especially since they tend to grow at an exponential rate), transportation and perhaps also, health insurance.

Using the calculations of items needed for the first year, the estimated cost of miscellaneous items for a child from the age of 1 to 6 is about $30,000.

Phase 3: School years – 12 to 13 years

Primary education, usually starts at age seven, and below is the breakdown of the cost of education for non-Singaporeans from Primary school to Pre-University according to MOE in 2018. 

Miscellaneous/ Items needed

Apart from education, there will also be daily expenses for your child – food, clothes, pocket money, transport, birthdays, books, tuition classes, enrichment classes, etc. If we were to be conservative, it’ll still come up to approximately $1,800/month on average for 12 years.

Grand total

Keep in mind that these figures are calculated conservatively, on the basis that your child attends local schools, and it does not include the effects of inflation. However, if we’re being practical, we know that getting into local schools if you’re a PR or a foreigner is not easy as priority is given to local students. More often than not, you’ll end up sending your children to international schools and this comes with a large price tag!

Let’s calculate the cost on based on your child attending international schools in Singapore:

The above cost is based on Eton House and Nexus International School.

There you have it! A conservative breakdown on the cost of raising a child not including the effect of inflation and university education costs. This figure might be a more accurate representation of the true cost of raising a child if you’re a PR or a foreigner as the likelihood of your child attending an international school is higher than that of local schools.

Are you financially prepared to raise a child in Singapore?

While finance is a huge concern, it is also important to consider the great joy and meaning that come with raising a child – that is possibly something you can’t place a price tag on.


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