Want To Know How Much It Costs To Raise A Baby In The Philippines? Here's A Budget Breakdown To Help You

For first-time parents, growing a family may seem like a financial nightmare. Here’s the low down on how much a baby will set you back the first two years so you can look forward to this exciting milestone without worrying about breaking the bank. 

How much should I set aside every month? 

Depending on several factors such as location, lifestyle and monthly income, the exact amount of your monthly baby budget will vary. With the different brands and products available, it’s always good to compare prices so you can choose the best option based on your needs and budget. 

Monthly expenses 

Consumables like milk, diapers, and other essentials will take up a large part of your monthly budget. The cost of milk alone will set you back around P6,000 a month. Depending on the brand, a reasonable budget for diapers would start around P1,000 a month. This amount may be higher especially during the first few months with newborns requiring more frequent diaper changes.  

Other monthly consumables like baby care products, baby clothes, feeding bottles and formula will amount to around P24,900 a year, with the monthly equivalent of P2,075 a month. 

Another cost to consider is how much you’ll be paying nanny/yaya if you’re considering getting help. Depending on experience, work scope, and where you live, the starting salary of a newborn’s nanny is around P6,000. If she has experience as a pediatric nurse or midwife, monthly salaries could go as high as P15,000. 

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For newborns, visits to the doctor will be more frequent during the first few months. After the first year when your baby completes his vaccinations, you’ll only have to come in as needed. Depending on the pediatrician, hospital, and type of vaccine, one vaccination can cost anywhere between P1,000 to P4,500 for private hospitals. During baby's first year, vaccines are often prescribed to be done monthly. Health center rates are cheaper, sometimes free. Just be ready to line up!

At 6 months old, your baby will transition to solid food. For babies, prepare a monthly budget of P300 and P500 for toddlers, which will increase with his daily intake. Speaking of increase (in growth), you’ll spend around P2,000 on clothes and shoes during the first year. 

When your baby is old enough, you might consider enrolling him in playschool or another extra-curricular activity. The monthly budget for early education starts at P6,000, depending on factors such as the location of the school or number of students per class. 

One-time purchases 

Expecting parents know all too well the excitement that comes with the nesting phase. But with your baby’s arrival comes something that you may not be as thrilled to receive—bills. From renovating a room to getting the latest stroller system, expenses will pile up. Come up with a budget based on your needs to help you prepare for bigger purchases like furniture and baby gear. 

A basic branded crib will set you back around P12,000. Bassinets and playpens will probably cost less, around P7,000 for popular brands, while multi-function beds may come with a higher price tag. If you decide to get a separate changing table, you’ll need around P2,000. 

'While one-time purchases may be cheaper than years earlier thanks to the introduction of different brands in the market, the cost of daily needs like diapers, milk, food, and vaccines have definitely increased.'

Even if you plan to breastfeed exclusively, you’ll still need to invest in a couple of bottles. Depending on the brand, a feeding bottle will typically cost around P500. A basic electric double breast pump will start at P7,000, with single or manual breast pumps cost less. You’ll also need a sterilizer to disinfect bottles, small toys, and other feeding utensils so set aside a budget of P6,000. There are UV and steam sterilizers so the exact amount would depend on the brand, model, and added features of the sterilizer. 

Not all parents will decide to remodel a room for their baby, but if you have the budget for it, a good amount to set aside for home improvements or renovations would be around P14,000. 

When it comes to travel gear, the price of a stroller and car seat system starts at P7,000 and can go up to P26,000 depending on the brand. Don't forget that car seats are also different for infants and toddlers, as well as strollers. So some parents choose to babywear when the child is younger and save the stroller for when the child is able to sit.

There are plenty of diaper bags to choose from today, but a basic baby bag would cost around P1,000. 

Other one-time purchases include a highchair, with a basic one starting at P3,000. Top of the line multi-function highchairs can go up to a whooping P12,000. 

While one-time purchases may be cheaper than years earlier thanks to the introduction of different brands in the market, the cost of daily needs like diapers, milk, food, and vaccines have definitely increased.

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Budgeting tips 

With costs of basic goods and necessities on the rise, families need to be more strategic in their financial planning to adjust to inflation. Here are some tips to help you better manage your expenses and prepare for your little pea’s arrival. 

Use a money tracker 

Though easier said than done, budgeting is everything. A good way to help you stick to a budget is to use a tracker so you can see which expenses are burning a hole and cutting back on these ‘money culprits.’ There are several user-friendly apps available to help you track where your money goes, so choose one that’s easy to use so you can track your expenses on the go. 

Prepare homecooked meals 

Next to housing, one of the biggest household expenses is food. Having homecooked meals is not only healthier, it’s also more cost-effective. Instead of buying prepacked baby food jars, try to serve your baby the same food you plan on serving the rest of the family. For instance, if you’re having nilaga, you might get a potato or carrot to purée for your baby. 

Start an emergency fund 

Like skydiving or color coding your wardrobe, it’s one of those things you always said you’d do but never really got around to doing. There’s no better time than now to start a ‘rainy day fund’ for any unexpected expenses that may arise. Set aside small increments each month to make it easier to stick to a savings plan. Financial experts suggest setting aside at least 3-6 months' worth of living expenses as a safety net. 

Raising a child is expensive, but it’s not impossible. Draw up a plan beforehand that’s both feasible and sustainable for you and your household. It can be challenging at first, but once you get the hang of sticking to your budget, you’ll have enough to raise your baby for the next two years and beyond. 

If you think one child is enough, read this story of couples who decided they were 'one and done'.