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Hey There,


Deciding to have a baby is one of the biggest decisions that you and your partner can make in life. Bringing up your bundle of joy can be both fulfilling and fun, but you must also be prepared for all the financial challenges that come along with it. From pre-natal care to nursery, here’s a financial guide to get your ready for parenthood.

Review your insurance coverage

From the moment you get the good news, there’s going to be periodic medical check-ups ( such as ultrasounds and blood tests), to ensure that both mother and baby are safe and sound.


The cost for these check-ups varies from clinic to clinic, but will ultimately amount to a maximum of about S$3,800*, depending on what type of clinic you choose to go to. To reduce costs, you might want to consider taking up a package with the clinic of your choice, or look at going to government clinics for your check-ups as well. 


Before you know it, your baby will be on its way. Some employers do provide maternity coverage, but you’ll still have to budget for medical and delivery complications. The cost of a natural birth without complications will range from S$840 to S$9,775, depending on the hospital and the type of ward. And it goes without saying, any complications will result in extra costs. Therefore, it’s very important to do your homework beforehand, and review the costs of your preferred hospitals, along with your insurance polices and what they cover.

Keeping up with baby supplies

Preparing for your first child can be extremely overwhelming, and you might be tempted to spend all your cash on everything a baby could potentially need. However, take some time to put together a practical checklist before spending, and focus on the essentials, such as clothes, bibs, and feeding and sleeping necessities.


This checklist can help to determine how much to set aside and what to buy each month. For example, you can start to look out for a crib a few months before the birth, while you can purchase clothes closer to the date. This will also give you time to look out for baby fairs and sales.

Survey childcare options

Singaporean mothers are entitled to 16 weeks of government-paid maternity leave, and some companies do also offer leave days and flexible work arrangements for new fathers. But once this is over, working parents need to think of alternative arrangements if staying at home isn’t an option.


Childcare and daycare services, however, don’t come cheap, and can reach over S$1,000 a month in prime areas. Try looking into workplace childcare or child benefits provided by your employer to save some cost.

Setting up your baby’s future

Having a baby will soon change the way you budget your finances. Their future education will in time be their biggest expense on your hands, and the sooner you start to save for it, the better. You can also open up a Savings Account for your child – our CIMB Junior Saver Account earns you 0.8%# p.a. on your balances!



Yours Truly,




Important Notes & Disclaimer

*Sources: https://blog.seedly.sg/cost-giving-birth-singapore-baby-bonuses


#Daily interest will be paid on the entire daily balance, provided that the balance is at least S$1,000 on any given day.


This article is brought to you by CIMB as part of our ongoing efforts to raise the level of financial literacy amongst Singaporeans. Financial knowledge and understanding are key to making well-informed and meaningful financial decisions that will improve everyone’s well-being. This in turn, achieves CIMB’s purpose of advancing customers and society.

This is intended for general information only, and does not take into account the specific objectives, financial situation or particular needs of any person. The reader may wish to seek advice from a financial adviser before making a commitment to a product. 


Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.