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Because according to our calculations, it will cost at least SGD $340,000 to raise one child in Singapore from infancy to 21 years of age.arents like marketing manager J Lim, 33, says she typically spends $600 per month on her 20-month old son and puts away $500 monthly into his education fund. She hopes that the fund will accumulate at least $108,000 by the time he turns 18 and in need of the money for his university education.
The amount spent on raising a child varies by household income. Husband-wife families with annual before-tax incomes of more than $105,000 in 2012 will spend a whopping $501,250 to raise a child born in 2012 to age 18. Parents with before-tax annual incomes of $60,640 to $105,000, considered the middle-range income group for this analysis, will spend about $301,970.