Cost Of Having A Baby In The Philippines
Estimations by analysts have revealed just how shockingly expensive it is to have kids in 2023.
For those that really value family and are looking to start one of their own, making the mature choice and preparing their finances is very important.
Without a doubt, it’s going to be an expensive preparation, but with realistic estimates, you’ll have a better perspective on how and when to start.
If you plan to have a baby, it is important to prioritize the bulk expenses because it covers the cost of the delivery and hospitalizations. The recurring expenses can be remedied as you go.
Delivery costs in the Philippines 2023
Due to the pandemic, prices have gone up significantly making hospitalization costs more expensive. If you’re looking to mitigate your expenses, you can opt to have your delivery at these hospitals where delivery prices start at ₱32,000 upwards.
These prices are mostly adjusted for PhilHealth coverage.
|₱20,000-₱30,000||Capitol Medical Center|
|₱45,000||Philippine General Hospital|
|₱50,000||Marikina Valley Medical Center|
|₱60,000-₱80,000||Medical Center Taguig|
|₱180,000||St. Luke's Medical Centre|
|₱35,000||VT Capitol Medical Center|
|₱60,000||Philippine General Hospital|
|₱110,000||Perpetual Help Medical Center|
|₱125,000-₱250,000||Makati Medical Center|
|₱100,000-₱300,000||St. Luke's Medical Center|
The prices quoted for the respective hospitals above are still subject to adjustment influenced by factors such as inflation and may change depending on when you’re reading this.
To be safe and to give you better flexibility in choosing hospitals from the list, it’s best to prepare at least ₱100,000.
How much does a baby cost per year?
A baby costs more than just food and clothing. According to the research by Picodi, here’s what a parent would generally spend on their baby during their very first year.
Basic expenses for one whole year generally cost at least ₱110,000, and these are the bare minimum expenses without having to cut back on providing what the baby needs.
|Maternity clothes and others||₱7,000|
|Baby care products||₱24,900 (includes baby clothes, crib, feeding bottles, vaccinations and formula)|
|Maternity clothes and others||₱10,400|
|Baby care products||₱30,100|
Expanded expenses can go from ₱157,600 and up. These include choosing the more expensive options but not the overly luxurious choices like better quality clothes, car seats, a more expensive variety of formula milk for mothers who can’t lactate.
When making a budget, it is important to give a little room for adjustments. Preparing for the worst (financially) is better than just getting by.
Making room for extended expenses in your budget is only practical because there will always be expenses that we don’t plan for.
These estimates are only for the first year of the baby. As they get older, naturally, their needs will grow as well. Babies will get taller, grow a larger appetite, need more toys, and etc.
Medical costs aren’t included in these estimates.
Emergency medical fund
Generally, having health insurance that would cover your baby is almost as good as having cash on hand, but as they say – cash is king. Babies have developing immune systems which is why they need to be medicated whenever they show even the most subtle sign of illness.
Having an emergency medical fund is very important to cover the initial costs of whatever checkup, medicine, or other medical needs the baby might have on the spot that your insurance can’t immediately cover.
There is no question that insurance can save your finances when the need for medical coverage arises, but sometimes they take time to process. Thus having cash on hand can really come in handy.
Saving up at least ₱50,000 to ₱100,000 as an emergency medical fund should be enough to cover the immediate costs of whatever medical emergencies you might encounter. Of course, the bigger the savings the better.
Total annual cost (from pregnancy to delivery)
To sum it up, here’s how much you need (initially) to save if you want to have a baby in the Philippines.
|Hospitalization||₱20,000 to ₱300,000|
|Day-to-day expenses||₱110,000 or higher|
|Medical expenses (on top of your insurance)||₱50,000 to ₱100,000|
|Total||₱180,000 to ₱510,000|
The estimates made in this article are made to reflect the worst-case scenario, actual expenses may vary depending on your location, condition, and other factors not mentioned herein.
How can you reduce these expenses?
As expensive as it may sound to have a baby in 2023, you can still raise a child without having to compromise the quality of living for the baby and the rest of the family.
A few smart ways you can cut back on expenses while still giving the maximum comfort available for your newborn child are the following:
- Alternating diapers – to save money on diapers, you can choose to use cheaper brands during the day where you are alert and can watch out for leaks and moisture.
Just use the more expensive diapers during nighttime where you, your baby and your partner need the extra long hours of sleep
- Hand-me-downs – this is the best way to cut back on expenses on baby clothes and toys. Children outgrow them as quickly as you can notice. Always opting for brand new is not very practical especially if you have close friends or family members whose baby is just a couple months older than yours and they are willing to give them away or sell at a lower cost.
Joining social media groups where you can exchange items is also a good way to go.
- Making your own baby food – not only is this cost-effective, it’s also the healthier alternative and also very easy to do. Boil or steam veggies for your little one and make your very own baby smoothie by mixing your own fruits instead of buying pre-made ones that’s probably full of sugar and preservatives.
Given the increase in pricing of virtually everything in the world right now, one can see how having a baby in 2023 might not be a very practical idea though it’s an experience that can be both overwhelming and rewarding.
But with careful pre-planning, cutting back on unnecessary expenses and our guide, anyone can make it work.