Comments on: The Cost of Raising a Child in Canada https://www.moneywehave.com/the-cost-of-raising-a-child-in-canada/ Personal Finance and Budget Travel for Canadians Fri, 24 Jan 2025 19:35:15 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Jen Laing https://www.moneywehave.com/the-cost-of-raising-a-child-in-canada/#comment-215762 Sun, 13 Mar 2022 17:28:58 +0000 https://www.moneywehave.com/?p=3736#comment-215762 Hi It is very expensive to have a child and with all the government funding you you receive. I’m trying to tell my step daughter that wants to have a sperm donor so she can get pregnant; no partner, no life savings, no benefits, she has a job that pays ok but if she is sick no paid leave. Being a single mom for 3 years was at times hell. I had all the things my step daughter doesn’t have and it was still hard. Who will she turn to her dad that worked for his saving that he has. people have to realize it isn’t easy to raise a child when you have the finical needs. She is 28 but acts like a child herself. God help me.

]]> By: Barry Choi https://www.moneywehave.com/the-cost-of-raising-a-child-in-canada/#comment-211719 Tue, 29 Sep 2020 18:32:08 +0000 https://www.moneywehave.com/?p=3736#comment-211719 In reply to Haylie.

Hey Haylie,

In 2019 a new rule was introduced where you can take 5 weeks of standard parental leave without affecting your spouse’s 35 weeks. Technically speaking it’s up to 40 weeks of parental leave you can take now, but there’s a maximum of 35 weeks available.

]]> By: Haylie https://www.moneywehave.com/the-cost-of-raising-a-child-in-canada/#comment-211718 Tue, 29 Sep 2020 18:26:51 +0000 https://www.moneywehave.com/?p=3736#comment-211718 My child is 11 months old and has cost me $2700 including all initial purchases, breast pump rental, disposable diapers, and winter clothing for the season ahead. My baby was exclusively formula fed after 3 months. I also spent 16, 500 on an RESP fund. Makes sense to add the extra 14,000 lifetime contribution amount in year 1.
One correction to the article is it’s 15w+ 35w for a standard parental leave.

]]> By: Morteza https://www.moneywehave.com/the-cost-of-raising-a-child-in-canada/#comment-208685 Wed, 11 Mar 2020 11:35:17 +0000 https://www.moneywehave.com/?p=3736#comment-208685 Wow, thank you for this useful content. best wishes

]]> By: Barry Choi https://www.moneywehave.com/the-cost-of-raising-a-child-in-canada/#comment-79400 Wed, 14 Feb 2018 18:42:47 +0000 https://www.moneywehave.com/?p=3736#comment-79400 In reply to Thomas.

Thomas,

Heh, my kid is only 7 months old and she’s already costing me a fortune. Lots to look forward to.

]]> By: Thomas https://www.moneywehave.com/the-cost-of-raising-a-child-in-canada/#comment-79399 Wed, 14 Feb 2018 18:41:00 +0000 https://www.moneywehave.com/?p=3736#comment-79399 To say nothing of things like
-The cost of a new carpet when your child writes all over it with permanent marker. (It’s amazing how long you end up just living with it like that though!)
– Bikes / hockey equipment that never seem to fit for more than a year,
– Band instrument rental fees or sports registration fee (but probably both),
– Auto insurance increase when they bring the family sedan home with a bent fender….or put a baseball thru the truck windshield (ok, it didn’t go thru, but it spiderwebbed 90% of it).
Multiply it all by the number of children you have (3 in my case). Been there. Oh Barry, you have so much to look forward to!

]]> By: Susan https://www.moneywehave.com/the-cost-of-raising-a-child-in-canada/#comment-58405 Mon, 04 Dec 2017 00:32:27 +0000 https://www.moneywehave.com/?p=3736#comment-58405 FYI federal government employees have top up for maternity AND parental benefits.

]]> By: Barry Choi https://www.moneywehave.com/the-cost-of-raising-a-child-in-canada/#comment-1861 Wed, 25 Mar 2015 19:17:14 +0000 https://www.moneywehave.com/?p=3736#comment-1861 In reply to Tawcan.

Tawcan,

Yes there are indeed a ton of credits available, enough that it’s probably worth hiring an accountant to help you with your taxes when you have a child.

]]> By: Tawcan https://www.moneywehave.com/the-cost-of-raising-a-child-in-canada/#comment-1860 Wed, 25 Mar 2015 18:28:04 +0000 https://www.moneywehave.com/?p=3736#comment-1860 Like Brian mentioned, a lot of tax benefits and credits you can claim for having kids to help you. Raising a kid can be as expensive as you want it to be or can be cost effective if you get used or 2nd hand items to reduce the cost.

]]> By: Barry Choi https://www.moneywehave.com/the-cost-of-raising-a-child-in-canada/#comment-1851 Tue, 24 Mar 2015 15:58:56 +0000 https://www.moneywehave.com/?p=3736#comment-1851 In reply to Chonce.

Chonce,

Yes I read about the lack of benefits for U.S. citizens, just going to the hospital give birth will cost you a small fortune. Our day-to-day expenses and real estate costs more, but our health care is “free”. Many people do decide to stay home once they realize how expensive daycare is.

]]>