Is It Worthwhile To Raise A Child?
- Goh SS
- May 5
- 3 min read
Financial Costs of Raising A Child
Children are expensive, regardless of where you live in the world. Financial considerations are among the most common reasons cited by couples who choose not to have children. Some may argue that parenting is a luxury only the wealthy can afford while others view the overwhelming costs associated with raising a child as a form of "punishment." Unfortunately, raising children in Singapore is no different. Depending on whom you ask, the estimated cost of raising a child in Singapore ranges from S$200,000 to S$1 million.
Key expenses at each stage include:
Pregnancy: Medical check-ups, childbirth
Infancy (Age 0 to 2): Diapers, milk, baby equipment, infant care
Toddler (Age 3 to 6): Nursery, childcare
Schooling Years (Age 7 to 19): Allowance, school fees, tuition, extracurricular activities
University (Age 19 to 25): Allowance, school fees, exchange programmes

These costs tend to rise over time due to inflation. However, Singaporeans benefit from government subsidies like Baby Bonus, which can help offset some of these expenses. There are also many private charities that help alleviate hardship faced by new mothers from low-income families to ensure children do not go without basic sustenance in their crucial growing years.
Before becoming a parent, it can be beneficial to conduct a thorough budgeting exercise. Understanding how much you need to raise a child and exploring all possible financial support available may make the financial commitment seem less daunting. This exercise can help you feel more open to the idea of parenthood as financially feasible so long as there is prudent spending.
How Emotionally Ready Is Ready?
However, there's no spreadsheet or checklist that can quantify whether you are emotionally ready for children. The most significant "cost" in parenting is the emotional investment required to be present for your child and family. Creating a healthy home environment necessitates a positive attitude toward life, work, and relationships. Parenting is a tremendous commitment that requires both partners to engage in open discussions about expectations regarding parenting, careers and even elderly parental care. Reflecting on these issues can be instrumental in self-discovery and understanding each other’s values as a couple and it prepares both partners for necessary compromises, changes, and sacrifices in their lifestyle.
Raising My Own Kids Is Truly Rewarding
I have always known I wanted to raise my own kids. Admittedly, my confidence may have stemmed from naivety as I didn’t fully consider the financial challenges ahead. My maternal instincts were stronger than the fears that could have held me back. Despite the many challenges, raising children has been the most rewarding experience of my life. Many parents seek to create a lasting legacy, raise responsible individuals who contribute to society, or find comfort in knowing someone will care for them in their old age. For me, the simple joy of watching my child grow, learn, and smile motivates me each day.
There is a profound sense of purpose in nurturing my children and contributing to their well-being and future. I take immense pride in witnessing milestones such as their first steps, first words, or riding a bike for the first time. These moments reinforce the notion that all the hard work and perseverance are worthwhile. Shared laughs, hugs, and quiet moments bring lightness and joy to a tiring day at work, making each day deeply fulfilling.
Sharing A Common Goal of Family Building
Embarking on this parenting journey with my husband has brought us closer together, as we share the common goal of building our family. Each child presents unique experiences, and I often find myself learning alongside them, gaining new perspectives as we navigate life’s challenges together. Parenthood has created countless lasting memories through family traditions, vacations, and everyday moments.
So is having a child a worthwhile venture? The profound love, attachment, and connection that come with parenthood are treasures that I would never exchange for any financial reward. I do wish for all to have the opportunity to enjoy this really short-lived parenting journey.
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