Average Cost Of Raising A Child In South Africa

What is a child?

A child is a human being between the stages of birth and puberty, or between the developmental period of infancy and puberty. The legal definition of child generally refers to a minor, otherwise known as a person younger than the age of majority. Children generally have fewer rights and responsibilities than adults.

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Average Cost Of Raising A Child In South Africa

South African parents, on average, fork out R90,000 a year when it comes to raising their children. Juggling the costs of food, clothes, toiletries, medical aid, and education are the costs any parent has to take into consideration.

How much does a child cost per month in South Africa?

Parents are most likely to spend R7,785 a month on their baby’s essentials. When you plan your budget for your baby’s arrival, you’ll need a lump sum for the initial setup, which is roughly R14,000.

How much does it cost to raise a baby in South Africa

In South Africa, the cost of having and raising one child can easily reach R1 681 470 for the average middle-income family. That’s more than R90 000 a year!

How do you plan for a baby financially?

Things That Will Financially Prepare You for a Baby

  1. Make sure you have health insurance and that it is up to date. …
  2. Create a budget to account for your new family member. …
  3. Set up a savings account for your baby. …
  4. Purchase a life insurance policy. …
  5. Update or create your will. …
  6. Plan your maternity/paternity leave schedule.
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