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Old 25th July 2010, 10:18 AM   #1 (permalink)
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Estimate cost of raising a child.........

Have you ever estimate the cost of raising a child or how much your parents had spent raising you up?

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Old 25th July 2010, 10:21 AM   #2 (permalink)
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Re: Estimate cost of raising a child.........

I believe the current figure should be standing at a 5-figure sum

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Old 25th July 2010, 10:22 AM   #3 (permalink)
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Re: Estimate cost of raising a child.........

I'm sure it cost more than S$100,000 already ... o_o

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Old 25th July 2010, 10:46 AM   #4 (permalink)
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Re: Estimate cost of raising a child.........

Half a million I think. I remember watching Opera and they say that the minimum amount needed is definitely $100,000 +.

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Old 25th July 2010, 10:52 AM   #5 (permalink)
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Re: Estimate cost of raising a child.........

Actually, based on today, the amount you need to raise a child til the age where they finish university is approximately $300k sgd. +/- a little

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Old 25th July 2010, 10:57 AM   #6 (permalink)
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Re: Estimate cost of raising a child.........

Originally Posted by christmas_ View Post
I believe the current figure should be standing at a 5-figure sum
lolx! your estimate is from the 60's?

Originally Posted by Locutus View Post
Actually, based on today, the amount you need to raise a child til the age where they finish university is approximately $300k sgd. +/- a little
Yup! Its around that figure but if the child goes overseas for uni, you will have to add another 100-200k into it. Imagine the cost if you have 2 kids.

Beside, with the high cost of flats, even if after the child starts working, he/she wont be able to afford his/her first car, first house (COV), etc. In the end, the poor parents again dig into their saving to help the child.

The pains and sacrafices a parent goes thru for their child.

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Old 25th July 2010, 11:16 AM   #7 (permalink)
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Re: Estimate cost of raising a child.........

Actually that is dependent on how the child does his/her financial management is after he/she goes to work. If they know how to save, and they save for 5 years before getting married and doesn't need a car, he/she should have more than sufficient to foot the costs of their new house.

If they go overseas for studies, then yes definitely 100-200k more would be added.

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Old 25th July 2010, 11:19 AM   #8 (permalink)
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Re: Estimate cost of raising a child.........

hmmm, i've no idea

i once asked my parents, they dont know the exact sum aswell
cause they dont count

but for me and my 2 siblings
we dont attend tuition class, or whatever class
music lessons, nothing

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Old 25th July 2010, 11:20 AM   #9 (permalink)
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Re: Estimate cost of raising a child.........

I always wondered how much it cost to raise a kid. The article below suggests a figure of $291,570, excluding cost of childbirth or university.

I guess that’s why more and more Singaporeans are reluctant to have and raise kids, as it would cost about the same, if not more in SGD, if you include all the tuition and enrichment classes needed.
To have kids in Singapore, you just simply have to ignore the big figure. Somehow, families seem able to find ways and means to make things work.
WASHINGTON (Reuters) – A middle-income family can expect to spend $291,570 including inflation to raise a child born in 2008 to adulthood, the government estimated on Tuesday, up slightly from the estimate made a year ago.

The estimate covers food, shelter and other necessities for a child to age 18, said the annual report by the Agriculture Department. The figure does not include the cost of childbirth or college.
Housing accounts for one-third of expenditures on children. Food accounts for 16 percent, the same as child care and education, said the Expenditures on Children by Families report.
Last year, the USDA estimated it would cost $269,040 to raise a child born in 2007 to age 18, including inflation. The USDA has made the estimates since 1960, when the estimated cost was $25,300. The department said it planned to have an updated “Cost of Raising a Child Calculator” on the Internet soon.

Annual spending for child-rearing ranges from $11,610 to $13,480 for a middle-income, two-parent family, the USDA said. Families with lower incomes will spend less and families with higher incomes spend more. Expenses are highest in cities in the U.S. Northeast, followed by urban areas of the West and Midwest. They are lowest in rural America and cities in the South.

(Reporting by Charles Abbott; editing by Todd Eastham, via Reuters)

http://singaporewatch.org/?p=1174

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Last edited by phileos; 25th July 2010 at 11:21 AM.
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Old 25th July 2010, 11:24 AM   #10 (permalink)
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Re: Estimate cost of raising a child.........

i heard a year 9k .

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Old 25th July 2010, 03:11 PM   #11 (permalink)
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Re: Estimate cost of raising a child.........

Take into account inflation and the number actually balloons close to 7 figures actually. You just can't see it straight because its spread out over the long years.

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Old 25th July 2010, 03:16 PM   #12 (permalink)
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Re: Estimate cost of raising a child.........

In other words, your parents spent a bomb in bringing you up! Imagine if you got siblings?

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Old 25th July 2010, 09:56 PM   #13 (permalink)
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Re: Estimate cost of raising a child.........

http://forums.sgclub.com/singapore/d...od_287909.html

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Old 25th July 2010, 10:01 PM   #14 (permalink)
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Re: Estimate cost of raising a child.........

Don't forget, parents in Singapore love to send their kids to all sorts of enrichment classes. Like violin, piano, etc;

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Old 25th July 2010, 10:08 PM   #15 (permalink)
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Re: Estimate cost of raising a child.........

一生的心血。。。。。。。。。。。。。

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Old 16th September 2010, 07:32 PM   #16 (permalink)
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Re: Estimate cost of raising a child.........

i dont really think parents should keep count of how much they spent on their kids. afterall, would you keep count on how much you spent on Your parents/spouses. This sounds a bit corny but it's about the willingness to commit, in other words, Love...

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Old 17th September 2010, 08:32 AM   #17 (permalink)
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Re: Estimate cost of raising a child.........

Originally Posted by harusnow View Post
i dont really think parents should keep count of how much they spent on their kids. afterall, would you keep count on how much you spent on Your parents/spouses. This sounds a bit corny but it's about the willingness to commit, in other words, Love...
This thread isn't about keeping count, but rather about financial planning.

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