Raising a child takes a village. It can be physically taxing, mentally challenging, and financially draining on new parents. Thankfully for parents in Singapore, the government has taken measures to alleviate the costs of raising a child.
This includes the Baby Bonus Scheme, as well as a plethora of childcare subsidies.
While the Baby Bonus Scheme is not used solely for childcare, it contributes significantly with the amount given both in cash gifts and its dollar-for-dollar co-matching savings for the child.
Parents will receive part of the Baby Bonus Cash Gift every six months until their child turns 6½ years old.
Subsidies For Infant Care, Child Care, and Kindergarten
Nevertheless, with the rising cost of living in Singapore, having a newborn and raising a child is expensive. To further defray the costs of raising a child, the government also has a range of subsidies available for infant care, child care, and kindergarten....