Is your toddler ready for preschool? 5 unexpected costs to budget for

Raising your child and being in charge of their education are both very different things. As your child grows and develops it may be a great idea to send them to a preschool.

Infants develop very quickly. As a result, having an environment that supports that development and pushes for education while stimulating their communication skills with other children will always help. On top of this, sending kids to preschool is helpful for any parent that has other activities they are looking to engage in such as work.

Preschool deposits

Preschools in Singapore often require parents to pay a deposit when enrolling their children into the schools. These deposits are generally payable upon enrollment and are amount to one months tuition fee. Depending on the school, this can range from $300 - $2,000. Look at the graph below to see some of the full-day preschool tuition rates around Singapore:

Estimated cost: One month's fees

Uniforms

Preschools in Singapore also have uniforms and PE attire that would have to be purchased separately from the school that is not included in the fees. The more premium or international preschools might have only one type of uniform that can only be purchased on campus through the school.

We recommend that parents purchase more than just one pair of the uniform for their children as they will need to wear them everyday. The average uniform costs about S$25-S$50 per set.

Estimated cost: $37 per uniform

Excursions

One of the great aspects of going to preschool in Singapore is the experiential learning that children take part in. These excursions require children to leave their classroom environment and learn or participate in activities off campus under supervision.

This is also not part of the tuition and typically covers the costs for transportation, entry fee and a meal for the child. Depending on the excursion, this could cost parents about S$20 - S$50 depending on the trip location and activities.

Estimated cost: $20 - $50 per excursion

Annual photoshoot

This one will come to no surprise, but parents love having documentation and photos of their children doing activities as they develop. Preschools often take care of this by having year books and other photo sessions throughout the year. Furthermore, photoshoots are also done for things like graduation, national holiday celebrations, and birthdays.

ALSO READ: 10 most expensive preschools in Singapore

These services essentially provide class photos, individual portraits, and all other photos that may be taken in the classroom or around campus. The cost for this service varies depending on which photos the parents want to purchase and how many of each—we ballpark it to be around $20 to $50 per year.

Estimated cost: $20 to $50 annually

Graduation concerts

The final activity that your preschooler will engage in will arguably be the most memorable one. The graduation ceremony will be an activity that you and your family would most likely decide to be part of, but is also not part of the tuition fees.

The costs for graduation ceremonies at preschools usually range from $70 - $150. The breakdown consists of the costume and outfit, whether it be from the school or a separate tux that you may need to purchase ($40 to $100) and the ticket to the event ($30-$50).

Estimated cost: $70 to $150 annually

All of these costs can add up, it is good to act ahead of time to make sure that you are ready to cover all of these costs when it is time to put your toddler into preschool. A great way to earn extra income is by investing in the market. Here are some great brokerages that can help you get started.

This article was first published in ValueChampion.