How much will a baby cost in 2023? (2023)

Written byeditorial board of iMoney

When the last ring of the wedding bell rings, it's time to plan your next move as a married couple. Most people would enjoy their newlyweds' first few years and consider having their first child a few years later. But that doesn't mean you shouldn't plan it anyway!

Have you thought about how expensive it will be to raise a child? From food, clothing, education, hobbies and health care to entertainment and childcare costs, having a baby takes a lot more than love and fresh air.

A pan-Asian insurance group had researched the total cost of raising a child in Malaysia and found the figure to be nearly half a million ringgit per child!

OfMessageThe project prepared by AIA Bhd estimated that about RM400,000-RM1.1 million would be required taking into account the cost of child delivery, school fees and tuition fees.

How much does it cost today to have a baby in Malaysia? What if you are considering quitting your job to take care of your child full time? How will it affect your family if you only have one source of income?

iMoney offers guidance on estimating and planning expenses so that the joy of parenting isn't lost under financial stress.

pregnancy test

Assuming a normal pregnancy, a pregnant mother should be checked once a month and every two weeks from the 36th week. These examinations at a private hospital can cost an average of RM200 to RM250 per examination. visit.

Prenatal check up to the 40th week

Approximate price = RM2,400 to RM3,000


Ask your parents and you will find that delivery costs in Malaysia are not cheap. For most, the baby will most likely be born in a private hospital, clinic, or birth center. If you plan to deliver your child in a private hospital in the Klang Valley, a natural birth including hospitalization for both mother and child can cost between RM3,000 and RM10,000 for both mother and child, while a caesarean section costs between RM6 can cost. ,000 and RM15,000 especially if it is an emergency with anesthesia and postnatal phototherapy for your newborn.

Natural birth and hospitalization in a private hospital in the Klang Valley

(Video) How Much A Baby REALLY Costs Each Month

Approximate price = RM3,000 to RM10,000

Medical help for your toddler

Your newborn baby will need regular checkups and vaccinations during the first year. These vaccinations are scheduled every two months, from a BCG vaccination at month 0 to a measles-mumps-rubella (MMR) vaccination at month 12.

On average, these visits can cost between RM40 and RM150 per person. visit if you visit a private children's clinic.

If your baby is prone to flu and cold, expect to spend around RM150-200 per child. visits to the doctor, because pediatrician advice and medicines are not cheap.


If both parents work, you must be prepared to pay a fixed amount per month to take care of your child. Some parents are lucky enough to have their own parents take care of the child. For those who do not have that luxury, here is the breakdown of childcare costs.

Babysitter or nanny

ThereforeLane StreetThe average monthly salary for nanny jobs in Malaysia ranges from RM1,500 to RM2,400. In general, professional babysitters and nannies are expected to ensure that children eat, play, rest and are intellectually stimulated through a range of activities in a safe environment.

Babysitter or nanny

Approximate Annual Cost = RM18,000 to RM28,000

Cleaning the room

Others choose to hire a maid to care for the child, especially if an aging parent is also at home. However, hiring a maid can be expensive. Agencies generally charge between RM14,000 and 18,000 and a monthly maid salary from RM1,100.

Maid lives in the house

Approximate cost for the first year = from RM27,200 (excluding meals and accommodation)


other supplies

stroller and car seat

You need a good quality stroller that will usually last at least two years to take your baby outside. An average stroller with a carrier that doubles as a car seat costs around RM1,300 (and we're not talking designer strollers here). If your baby is a bit older (depending on his/her weight), you will need to buy a separate car seat which costs at least RM400.

stroller and car seat

Approximate price = RM1,700


A baby needs different types of furniture, such as a crib, playpen, changing table, high chair and bouncy castle. If you want to cut costs, you can buy them second-hand or give them away for free from your family whose children grew up with them.

But if you have to buy everything brand spanking new, it can add up to a hefty sum:

  • Cot/crib/mattress/pillow/linen - RM800
  • Playground - RM200
  • High chair - RM100
  • Commode - RM150


Approximate price = RM1,250


  1. breastfeeding

If the mother decides to breastfeed, you should think about getting a breast pump. Currently, the prices of breast pumps in the market range from RM150 to more than RM800, not to mention the necessary storage bottles, ice packs and other accessories.

(Video) HOW MUCH IT COSTS TO HAVE A BABY FIRST YEAR 😱 Breaking Down EXACTLY How Much One Of My Babies Cost

breast pump

Approximate price = RM800

  1. Formula

Depending on the brand and level of expansion, there are different prices for baby food. The earlier the stage (in newborns), the higher the cost. As your child gets older, the price of formula drops. The average price of a can of formula for a newborn to six months old ranges from RM60 to over RM110 per can.

baby food

Estimated cost for the first year = RM2,640

  1. solid food

When your baby is six months or older, you can give him solid foods such as cartons, cartons, or baby food in addition to milk. This can cost around RM 120 per month depending on the ingredients you choose.

solid food

Approximate cost for the first year = RM720


There are different brands of diapers. Some may be cheaper while others can cost quite a bit.

(Video) How Much It Actually Costs To Raise Kids In The U.S.

A mid-range diaper can cost more than RM35 per pack. The number of diapers in a package depends on the size. Usually, the larger the package, the fewer diapers it contains. The costs are also often higher.

A premium brand diaper can cost around RM 60 per package. These can be used overnight as they last longer without leaking.


Approximate price for the first year = RM1,435 (RM35 x 15 packs and RM60 x 15 packs)

clothes and toys

Babies quickly outgrow their clothes and get tired of toys. Most parents are advised to get used clothes or toys from friends or family. Still, parents occasionally buy new clothes and toys for their babies (who can't resist cute clothes and toys?). The amount spent on these things really depends on you and your baby.

clothes and toys

Approximate cost for the first year = RM720

So... What is the total cost of having a child?

The figures above are estimates only. Some of these are one-time costs, while others are recurring costs. To give new and expectant parents an idea of ​​how much it costs to prepare for the birth of their newborn, here's an estimate of the total cost that could be incurred from conception through the first 12 months of your baby's life. child, when both parents work and one parent stays at home full-time.

Paid childcare
Unpaid childcare
babies coming
Prenatal Control^
Delivery (of course)^
After birth (12 months)
Vaccinations and control^
Childcare (babysitter)#
18.000 RM
Stroller & Car Seat^
€ 1.250,00
€ 1.250,00
breast pump^
eat milk#
solid baby food#
720 kr


€ 37.915,00


^ One-time costs
# Annually recurring costs

This is the estimated cost of the things you will need during your child's first year for a middle-income family living in the Klang Valley. However, there are ways to keep costs down. For example, if you choose to go to public hospitals, you can save significantly on delivery, monitoring, and medical costs. Please note that the total amount above is not an upfront cost, so you can spread it out a bit. But before giving birth in a private hospital, you need to prepare at least RM12,000 to RM18,000 because you don't know whether the mother will give birth naturally or by caesarean section.

Not only can the right credit card help you better manage your spending as a payment method, but you can also take advantage of features like the easy payment plan or balance transfer to spread payment for a large amount.

To further ease the financial burden on Malaysian parents, the government is offering a number of tax breaks to ease the burden. Some of these are:

(Video) How Much Does it Costs to Have a Baby in the Hospital | My Experience

  • Purchase of basic assistive equipment for the disabled person, spouse, child or parent (up to RM6,000)
  • Medical expenses for (RM8,000 capped):
    • Serious illnesses for yourself, partner or child
    • Fertility treatment for yourself or partner
    • Vaccination for yourself, partner and child (limited to RM1,000)
  • Expenses (up to RM1,000) for:
    • Complete medical examination for yourself, partner or child
    • COVID-19 detection tests including the purchase of a self-detection test kit for yourself, partner or child
    • Mental health evaluation or counseling for yourself, partner, or child
  • Lifestyle - Expenses for personal use/benefit for yourself, spouse or child (RM2,500)
  • And much more.

Having a child is a lifelong commitment. Consider other costs as they get older, such as their education and hobbies. It will be worth it though, as Nicholas Sparks, a famous author, once said, "What it's like to be a parent: It's one of the hardest things you'll ever do, but in return it teaches you the importance of unconditional love."

This article was first published in May 2015 and has been updated for timeliness, accuracy, and completeness.


How much will a baby cost in 2023? ›

Having a baby is an incredible life experience, but it also comes with significant financial overhead as well. A recent study detailed that the delivery of a child can cost nearly $20,000, with the estimated post-insurance costs hovering around $2,800.

How much does it cost to have a baby 2023? ›

Giving birth costs $18,865 on average, including pregnancy, delivery and postpartum care, according to the Peterson-Kaiser Family Foundation (KFF) Health System Tracker.

How much does a baby cost per year? ›

According to a US Department of Agriculture report, the average middle-income family spends between $12,000 and $14,000 on child-related expenses each year. For newborns, the cost is higher.

How much to raise a child to 18 in 2023? ›

Average cost to raise a child is $288,094 till age 18. Cost factors include location, childcare, number of children, and lifestyle. Significant expenses: housing, food, childcare, and healthcare. Average college education costs $141,324, rising yearly at 6.8%.

How much will a baby cost? ›

Some of the biggest costs for new parents include healthcare (including birth), diapers, formula, childcare, baby gear, clothes, food, and toys. In fact, you can anticipate spending between $9,300 and $23,380 per year per child.

Is 2023 a lucky year to have a baby? ›

2023 is predicted to be a year of hope. Chinese astrologists believe the year of the Rabbit is a good one for giving birth. In fact, the rabbit is known to be the luckiest out of all the 12 animals. Set to welcome a bub in 2023?

Can I claim a baby born in 2023? ›

You cannot claim a baby born in 2023 yet; you'll have to wait until 2024. When you file taxes, you can only include information for that tax year. Even though you are filing your 2022 taxes in 2023, you can only include income, children, marriages, etc. that occurred in 2022.

What salary do you need to have kids? ›

Separately, LendingTree researchers estimated that basic costs for raising a child in the U.S. equal $20,152 annually according to data collected in 2021 and those numbers are unsurprisingly also trending upward.

How do I prepare financially for a baby? ›

How to Financially Prepare for a Baby in 9 Months
  1. Month 1: Have a money talk with your partner. ...
  2. Month 2: Create a new budget. ...
  3. Month 3: Build your emergency fund. ...
  4. Month 4: Check in on life and disability insurance. ...
  5. Month 5: Make a plan for debt. ...
  6. Month 6: Take a pulse on retirement and other financial goals.
Nov 2, 2022

How much money do you need for a baby monthly? ›

Monthly, you could safely plan on spending between $250 (no child care) and $1500 (with child care) a month on your baby.

Why is raising a child so expensive? ›

The largest expense associated with the cost of raising children is housing. This can easily make up a sizable chunk of a parent's budget, especially when you factor in mortgage or rent payments, taxes, insurance, repairs, utilities, maintenance, and basic household goods.

How much does it cost to take care of a child in 2023? ›

Download Table Data
StateAnnual Child Care Costs
48 more rows

How much does a baby cost per week? ›

Parents can count on spending close to $50 per week ($2,448 per year) on diapers, formula and baby food alone. Then toss in such big-ticket items as furniture, equipment, clothes, childcare if you're returning to work, medical expenses, and well, you get the idea.

What is the cheapest way to have a baby? ›

Birth center births and home births are typically less expensive than hospital births,4 because there are no high-risk procedures done; only low-risk parents are eligible. So you save money by not having to pay for those procedures outright, or for any fees involved in the event you'd need them.

How much should I save for a baby? ›

A normal pregnancy typically costs between $30,000 and $50,000 without insurance, and averages $4,500 with coverage. Many costs, such as tests that moms who are at-risk or over age 35 might opt for, aren't totally covered by insurance. Plan to have at least $20,000 in the bank.

Is it expensive to have a baby on your own? ›

This figure includes the cost of the pregnancy and post-partum care. 1 And the average cost of vaginal birth alone exceeds $10,000 in more than half of U.S. states. 2 Vaginal birth expenses include the cost of using a delivery room and nursery, lab work, and medications.

Which zodiac signs will conceive in 2023? ›

Water signs like Scorpios are considered the most naturally fertile of the zodiac, and it proves true for the passionate scorpion in 2023.

What year is best to have a baby? ›

The ideal childbearing age is often considered to be in the late 20s and early 30s. Pregnancies later in life could come with some health risks. However, age is just one factor when it comes to giving birth to a child.

What year is best to give birth? ›

Women are most fertile and have the best chance of getting pregnant in their 20s. This is the time when you have the highest number of good quality eggs available and your pregnancy risks are lowest. At age 25, your odds of conceiving after 3 months of trying are just under 20 percent .

Is there a tax credit for being pregnant? ›

Pregnancy deductions

Any year you incur significant medical expenses that relate to your pregnancy, the IRS allows you to deduct a portion of the cost on your income taxes, but only if you are eligible to itemize deductions.

Why can't you claim a fetus on taxes? ›

Because yes, your baby must be born to qualify. You can't claim an unborn least on your federal tax return. You can do so in at least one state beginning in 2023.

Can I file my unborn child on my taxes? ›

I was pregnant most of the current tax year. Is it still possible to claim the baby as a dependent when filing my tax return? Share: To claim a baby as a dependent, the baby must have been born alive during the current tax year.

Can a family of 4 live on 100k a year? ›

It can be more than enough for an individual or even a small family to live comfortably. With $100,000 a year, a person could cover typical expenses, pay down debt, build their savings, contribute toward retirement, invest, and still have enough money for entertainment, hobbies, and vacations.

What is the highest paying job for kids? ›

High-paying jobs for teens
  • Delivery service driver. ...
  • Landscape laborer. ...
  • Youth sports referee. ...
  • Caddy. ...
  • Babysitter. ...
  • Automotive technician. National average hourly wage: $23.80 per hour. ...
  • Tutor. National average hourly wage: $24.84 per hour. ...
  • Dog walker. National average hourly wage: $33.70 per hour.
Feb 17, 2023

How much do you spend on diapers a year? ›

Here's a general breakdown: The average diaper costs anywhere from $0.20 to $0.30. Assuming your baby uses 2,500–3,000 diapers in their first year of life, you can expect to spend about $500-$900 on an annual supply. This doesn't count the cost of other diapering supplies, such as wipes and a changing table.

What is the average cost of a crib? ›

Prices vary, but in general expect to pay around $125 to $350 for a crib, $50 to $150 for a crib mattress, $100 to $200 for a changing table and $200 to $500 for a glider chair.

How much do most families spend a month? ›

Average Household Budget: How Much Does the Typical American Spend? American households spend an average of $61,334 per year, or $5,111 per month — 82% of our after-tax income. Most households have the same major expenses: housing, transportation, taxes and food make up 78% of our budgets.

Is it cheaper to raise a son or daughter? ›

Created with sketchtool. Later life, boys tend to be more expensive. After age 18, sons are more likely to move back home and more likely to get financial help from their parents, research shows. Whether you have a son, daughter or both, one thing is clear: It's extremely pricey to raise a child in America.

What city is the most expensive to raise a child? ›

Topping out the list was the San Francisco-Oakland-Berkeley area, where SmartAsset found the annual cost of raising a child is more than $35,600. The high costs of food and housing in the area ultimately pushed the metro to the top of the list. Close behind was another SoCal metro, Santa Cruz-Watsonville.

What are the most expensive parts of raising a child? ›

That cost includes childcare (which, on average, will set you back more than $9,000), food and housing, healthcare, transportation, and other necessities. SmartAsset reviewed 381 U.S. metro areas to determine how much it could cost for a two-adult household to raise a child in 2023.

How many kids does the average family have? ›

The typical American picture of a family with 2.5 kids might not be as relevant as it once was: In 2022, there was an average of 1.94 children under 18 per family in the United States. This is a decrease from 2.33 children under 18 per family in 1960. If there's one thing the United States is known for, it's diversity.

How much do parents spend on a child for Christmas? ›

In my family, for example, we set a budget and go from there—and many families do the same. According to a November 2022 study, most parents are budgeting $220 for each child—with the highest budgets for 7 to 12-year-olds, though 28% of those surveyed are trying to keep it below $100.

How much does it cost to raise a girl? ›

When all is said and done, MoneyTips estimates that parents spend $80 per month more on girls than they do on boys. This comes out $960 more per year, or $17,280 more over the course of the 18 years that children are likely living at home. Interesting.

How much fees does a 2 month old need? ›

At about 2 months, your baby may drink about 4–5 ounces (120–150 milliliters) every 3–4 hours. At 4 months, your baby may drink about 4–6 ounces (120-180 milliliters) at each feeding, depending on how often they eat. By 6 months, your baby may drink 6–8 ounces (180–230 milliliters) about 4–5 times a day.

What state is cheaper to have a baby? ›

For new parents looking to save money, you might want to move to Arkansas. It's the most affordable state to have a baby, where annual costs are just under $21,000 a year.

What is the cheapest state to give birth? ›

Following Arkansas, the five least expensive states to have a baby in are Alabama, Mississippi, New Mexico and Kentucky.

What time of year is cheapest to have a baby? ›

Cheapest time to have a baby

Seasonally, autumn months are the most expensive on average, followed by summer and winter, with spring the most affordable time of year to welcome a baby.

How much should a single mom save? ›

Focus on your emergency savings

Every emergency fund should have three to six months of basic living expenses (housing, food, bills, etc.) put away for that rainy day. The type of emergency can vary, but the important part is to have that money available at any time, just in case.

Is it cheaper to have a baby or adopt? ›

The Pros of Adoption

Second, the adoption process can be less expensive than pregnancy and childbirth. This is because you are not incurring the medical costs associated with pregnancy and childbirth. Additionally, there is less of a time commitment than pregnancy and childbirth.

Is it cheaper to have one kid? ›

For married-couple families with one child, expenses averaged 27% more per child than expenses in a two-child family. For families with three or more children, per child expenses averaged 24% less on each child than on a child in a two-child family.

What are kids born in 2023? ›

Generation Alpha are defined as those born from 2010-2024.

How do you budget for a future baby? ›

Budgeting for a baby

If you're new to budgeting, we recommend divvying up your income with the 50/30/20 approach: 50% for needs such as household bills, minimum loan payments and expenses such as child care, diapers and formula. 30% for financial wants.

How much money do I need to have a baby? ›

The Peterson-Kaiser Family Foundation Health System Tracker estimates the average cost of pregnancy, childbirth, and postpartum care for Americans with insurance is $18,865. Nearly $3,000 of that is paid for out of pocket1 even if you have health insurance.

How much should you save before having a baby? ›

Having adequate savings can set your new family up for financial success. Usually, this takes the form of an emergency fund, which financial experts suggest should consist of anywhere between three to six months of living expenses. Add a baby into the equation and that can be more than you needed before.

Who was the first person born in 2023? ›

Isabelle Alice Koopman was born to her parents Ashley and Cameron Koopman of Greenfield, Minnesota early Sunday morning. Her recorded time of birth was exactly at midnight on New Year's morning, the hospital reports. Isabelle weighs six pounds, 15 ounces, and measures 20 inches.

How long will Gen Z live? ›

The average life expectancy of baby boomers, Gen X, Millennials, and Gen Z are different. Compared to the 70-year life expectancy of baby boomers and the 85-year life expectancy of Gen X, Gen Z is predicted to have a life expectancy of over 100 years.

What is Gen Z age? ›

Gen Z: Gen Z is the newest generation, born between 1997 and 2012. They are currently between 9 and 24 years old (nearly 68 million in the U.S.)

What is the biggest expense of having a baby? ›

One of the largest expenses for new parents can be the delivery—the cost of which depends on the location and health insurance policy. One-time costs often include travel, home needs, and nursing/feeding. Other things to consider include the cost of child care and savings plans.

Can you ever be financially ready for a baby? ›

There's no magic number for how much money you need to have before having kids. But job stability and a healthy emergency fund are a good start. At some point in your 20s and 30s, you'll start to wonder if you want to have kids, and if so, when you should do it.

What is the best age to have a baby? ›

Experts say the best time to get pregnant is between your late 20s and early 30s. This age range is associated with the best outcomes for both you and your baby. One study pinpointed the ideal age to give birth to a first child as 30.5. Your age is just one factor that should go into your decision to get pregnant.

What is the best age to have children financially? ›

To that point, having Junior at 26 is more likely to cut into prime saving years because younger couples tend to have tighter budgets and don't contribute as much to retirement, says Rebecca Kennedy, a Certified Financial Planner™ (CFP®) and founder of Denver-based Kennedy Financial Planning.

Does an epidural cost extra? ›

The procedure is common and included in average costs associated with delivery. For uninsured people, the cost of an epidural can range from about $1,000 to over $8,000. Doulas, who support a pregnant person before, during, and sometimes after the delivery, are an optional cost.

How much does the average person spend on a baby? ›

How much does it cost to give birth? Prepare for some sticker shock: The health costs associated with both pregnancy and childbirth average almost $19,000, according to a July 2022 analysis released by the Kaiser Family Foundation.


1. How Much Does a Baby Really Cost?
(Steve | Call to Leap)
2. How Much It Costs To Have A Baby (Labor & Delivery)
(Marissa Lyda)
3. New option for parents who are battling baby costs | 7NEWS
(7NEWS Australia)
(Cortney Neville)
5. COST OF HAVING A BABY | How to prepare financially for a baby | HOW MUCH DOES IT COST!?
(Babies, Budgets & Beyond)
(Melissa Oti)


Top Articles
Latest Posts
Article information

Author: Pres. Carey Rath

Last Updated: 10/12/2023

Views: 5988

Rating: 4 / 5 (41 voted)

Reviews: 80% of readers found this page helpful

Author information

Name: Pres. Carey Rath

Birthday: 1997-03-06

Address: 14955 Ledner Trail, East Rodrickfort, NE 85127-8369

Phone: +18682428114917

Job: National Technology Representative

Hobby: Sand art, Drama, Web surfing, Cycling, Brazilian jiu-jitsu, Leather crafting, Creative writing

Introduction: My name is Pres. Carey Rath, I am a faithful, funny, vast, joyous, lively, brave, glamorous person who loves writing and wants to share my knowledge and understanding with you.