Here’s how much it really costs to raise a child in Switzerland

Having children is priceless, as you know, yet very few people know how much children actually cost. Or at least not exactly how much, right? 

If there’s one thing you should prioritize, it’s making a budget

To make sure you can estimate your child’s expenses as accurately as possible, it’s a good idea to start working on a household budget at an early stage.

What belongs in your budget?

Within your family budget, items for children can generally be divided into running costs (recurring on a regular basis) and one-off or age-dependent expenses. The following lists are not exhaustive and should be adapted to your own needs.

So, what is the total cost of having children?

As you can see, there are quite a few financial challenges to deal with from day one. How much children really cost in Switzerland is very individual and depends heavily on your lifestyle and financial situation as parents. The Department of Education of the Canton of Zurich regularly publishes its table of children’s costs, which serves as a guide for parents. According to these figures, children cost between 1,440 and 1,920 francs, depending on their age. For a child aged between five and 12, the costs amount to 1,575 francs per month. Based on this calculation, you can expect to spend an average of almost 20,000 francs per year – excluding childcare and indirect costs.

Table of costs for children in Zurich as a reference

As a general rule, the first child is the most expensive, as parents have to buy baby essentials (such as a pram), some of which can be reused by a second child.

The good news for families with several children is that the total costs are higher, but the average costs for each child are lower (if your second child is aged five to 12, for example, your average cost per child will be “just” 1,355 francs).

Save money for your children’s future, too

Family or child allowances (at least 215 francs per month and child), education allowances (at least 268 francs per month and child) or tax benefits and other family offers ease your monthly budget. But even then, saving money is a challenge for many families. This is shown by the Swiss Federal Statistical Office (see bfs.admin.ch): families with a low or middle income in particular can only set aside a small amount of money, even if it’s urgently needed for their children’s education, illness, unforeseen circumstances or other family purchases such as a car.

Fortunately, even if you have a low income, you can still save for your children’s future − for example, setting aside money for their education. However, given ongoing fees and zero interest rates, you shouldn’t simply leave your money in a savings account as previous generations did. Instead, in the current climate, you should always consider investing money in a return-oriented manner. With a funds saving plan, for example, you can do this from as little as 20 francs per inpayment. While funds are also subject to market fluctuations, which means they entail risks, these can be reduced through regular inpayments. 

Conclusion

Yes, children do cost money. According to the Zurich table of costs, the total for direct costs until the age of 18 can easily reach 350,000 francs, and until the age of 20, around 400,000 francs. The Swiss Federal Statistical Office, which also takes indirect costs into account, estimates more than double that amount: by their 20th birthday, each child will cost their parents one million francs. For parents, having children is the most wonderful thing imaginable, and it is something that cannot be measured in money. To make sure that having children does not turn into a question of money, you should scout out potential support even before your child is born, and you should start planning your finances and your future expenditure by setting up a family budget.

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