[racghu]

No wonder so many couple dun want to have children.

Originally Posted by SibueyJiaLat

Prepare for the cost of raising a child



BY
RICHARD HARTUNG
[email protected]ISHED: 12:56 AM, MAY 15, 2016

Estimates of the cost of raising a child in Singapore range from around S$200,000 at the low end to a seemingly astronomical sum of nearly S$1 million at the high end, with about S$360,000 as a middle-range average.

Looked at as a total amount, S$360,000 for raising a child for 20 years seems large. Yet it’s not nearly as daunting as it seems. The amount represents S$1,500 per month, which may seem more reasonable. That amount may also vastly overestimate the actual impact on families.

Curtin University Associate Professor Alfred Dockery analysed costs of raising children in Australia and found the estimates averaged A$537,000, even higher than Singapore. Using a “net wealth approach” rather than looking at total cost, however, he found that families only decreased their savings accumulation by A$1,300 per year and that children may even provide a net financial benefit.