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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.
According to MoneySense.ca, the average cost of raising a child to age 18 is a whopping $243,660. Break down that number, and thatâs $12,825 per child, per year -- or $1,070 per month. And that's before you send them off to university.