It’s no secret that raising a child can be crazy expensive wherever you live and these costs begin even before the baby is born.
For instance, Malaysian parents can expect to pay up to RM10,000 just
to cover the cost of pregnancy check-ups and delivery fees if they opt
for the private route – and this is a route preferred by over 40% of
Malaysians, according to a poll by Babycentre.
Prenatal and delivery services at these facilities could cost at least 8X more compared to a public hospital.
Meanwhile, statistics by Singapore’s Ministry of Health
show that 80% of Singaporeans obtain “costly hospitalisation care” from
their public health system, meaning that many Singaporeans could be
paying just around S$1,324 for prenatal and delivery services combined.
Incidentally, Singapore’s healthcare system was ranked the 1st most efficient in the world by Bloomberg in 2014.
Of course, the cost of raising a child will only go up as you delve
further into parenthood and one of the biggest financial drains that
come with it would be your child’s education.
In Malaysia, flip flops in the national schooling system and lower-than-average national scores in worldwide quality assessment programmes
has prompted many parents to send their children to international
schools. If this is a move you’re considering, then be prepared to fork
out AT LEAST RM1 million over the course of 12 to 13 years!
Meanwhile, public schools remain the preferred mode of education
across the Causeway. This is hardly surprising, as Singapore’s education
system is often touted as one of the world’s best.
In fact, the number of private institutions has fallen from 338 in
2011, to 312 in 2014 in the island republic. In 2015, 10 more private
schools exited the industry due to falling enrolment rates, according to
figures provided by Singapore’s Council for Private Education (CPE).
However, while public school education costs next to nothing for
Singaporeans, many parents spend up to thousands of dollars every year
on tuition and enrichment courses for their kids.
This is considered the norm, given that Singapore is the
world’s second-most competitive economy, so it is only natural for
parents to want to give their children an educational edge in an
Wherever you live, we can all agree that parents only want the best
for their children and that the cost of doing that is really no joke!
But which country gives you more for your parenting dollar – Malaysia or Singapore? Check out our infographic for the answer!
Tuesday, 26 July 2016
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