The happiness you get from caring for your child can't be compared to anything else. If you think about how you will spend your money, you may be able to make this experience even better. Nothing in this world can compare to the joy of having a child. Everything is a milestone for the new parents. 

From the first time their child smiles or says a word to the first time their child holds their hand. Even though having a child is a source of happiness that can't be compared to anything else, it is still the parent's job to ensure their child has a good life with all the things they need.

Bringing up a child takes time, energy, and money. It's expensive and not for people who give up easily since the costs of school, health care, and food are all rising at a scary rate. According to a recent study, it costs between Rs 60 and Rs 70 lakhs to raise a child in India until they go to college. This considers the costs of living a simple life, paying school fees, and other small costs. Once a person reaches this age, they will have to pay much more for things like college and marriage.

This is a wake-up call for most couples that they need to plan their finances ahead of time. Here is a rundown of the costs a couple faces at different times, from when the child is born until he finishes school. Keep reading to learn about some expenses and the average cost of raising a baby.

Expenses and the average cost of raising a baby

1. Pregnancy and Health Care

When expecting a child, a couple must have enough money to pay for prenatal care and the cost of giving birth. After the baby is born, there will be more costs, such as the baby's clothes, toys, food, diapers, and other needs. Even though this might not seem like a high cost at first, it can quickly add up to other costs and have a big effect on your family's finances. During the first couple of years, there will also be costs for vaccinations and other medical care.

At this point in the process, it's important not to go overboard and stay within your budget. More importantly, you should start saving for your child's future as soon as possible, whether for their education or their wedding, so you have enough money when you need it. Some people also say that you should save money in an emergency, which is a good idea.

cost of raising a baby
cost of raising a baby

2. Clothes and Gadgets

If you go to a kids' store, you'll see that the most expensive items are clothes and toys. You can spend up to 50,000 rupees on wonderful kid's products and brands performing targeted marketing campaigns for kid's apparel, toys, and gadgets.

3. Schooling

The costs of attending school and participating in extracurricular activities have increased today's society. In good institutions located in metropolitan areas, the annual tuition might range anywhere from one to one and a half lakh rupees. There will also be a variety of additional expenses, such as the costs of extracurricular activities and art and sports lessons, spending on family outings, dining out and sports, and the purchasing of game equipment.

4. Marriage and Higher Education

When it comes to a family's spending, college and marriage are both big expenses. These expenses, which could cost up to Rs 50 lakh or more, may seem like a lot. However, if you plan, you can reach these goals easily without having to give up a lot of your current standard of living. 

If you had saved and invested in the child's goals from the start, you would be thanking your lucky stars at this point. You should keep saving and investing regularly so that your child can go to a good college and get married. You should also think about your own retirement. Not only should you start investing for your child's future, but you should also start investing in a way that will help you build up a large nest egg for your retirement. 

When you invest for your retirement or your child's goals, you have to take inflation into account. Taking inflation into account will help you figure out how much your monthly expenses will be when you retire or how much your child's college will cost in the future. The only way to make sure you can reach these goals without going broke is to plan ahead since most of these costs are unavoidable.


Having a child is amazing, but it is financially stressful too. Therefore, it is important to learn about the average cost of raising a baby to provide them with the best you can. However, the cost of raising a baby can differ from country to country. We have taken India into account to give you a better understanding of financial planning for your child's expenses.

Frequently Asked Questions

Q1. What is the Most Important thing in Raising a Child?

In the first place, we cherish the child's sense of self-worth, as well as his or her capacity to express and be heard by others. Continuous and genuine giving, support, praise, and hugs go a long way in teaching youngsters self-acceptance and self-worth. Be sensitive to your child's emotions and encourage him or her to share them with you.

Q2. Why is Indian Parenting Different?

While this is generally beneficial for children, Indian parents are viewed as overprotective, and this can lead to them unintentionally controlling and dominating their children's lives at all stages.

Q3. How Costly is Education in India?

Secondary education encompasses students ages 12 to 18; a six-year secondary education in a government school costs approximately Rs 30600. At the same time, the same education in a private institution costs approximately Rs 3,96,000.