{"id":180,"date":"2023-05-09T09:00:18","date_gmt":"2023-05-09T16:00:18","guid":{"rendered":"https:\/\/www.speedycash.ca\/preparing-for-parenting-the-cost-of-having-a-baby\/"},"modified":"2025-08-05T17:05:27","modified_gmt":"2025-08-05T17:05:27","slug":"preparing-for-parenting-the-cost-of-having-a-baby","status":"publish","type":"post","link":"https:\/\/www.speedycash.ca\/blog\/preparing-for-parenting-the-cost-of-having-a-baby\/","title":{"rendered":"Preparing for Parenthood: The Cost of Having a Baby"},"content":{"rendered":"\n
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<\/i>Financial Tips<\/span><\/a><\/div>\n\n

Preparing for Parenthood: The Cost of Having a Baby<\/h1>\n\n
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Understanding the Costs of Family Planning in Canada<\/h2>\n\n\n\n

Congratulations, you\u2019ve just found out you\u2019re expecting a new bundle of joy! Whether it is your first child or your fourth, emotions will run everywhere from excitement to anxious, especially when you start to tally up the cost of raising a child.<\/span><\/p>\n\n\n\n

At Speedy Cash, we know that there is much to consider financially when it comes to starting a family, and it is something that is often overlooked. We\u2019ve outlined the following information to help ease some of that stress so you can focus on what matters most!<\/span><\/p>\n\n\n\n

Planning for Childcare<\/h3>\n\n\n\n

Access to affordable childcare is crucial for many families. Canada has introduced initiatives to reduce childcare costs, with some provinces offering childcare for as low as $10 a day. It’s essential to research the options available in your province or territory and apply early, as waitlists can be long.\u200b<\/p>\n\n\n\n

Buy Used <\/span><\/h3>\n\n\n\n

While it\u2019s hard not to want the newest and shiniest gear for your baby, the <\/span>costs can quickly skyrocket<\/span><\/a> when you shop at a specialty maternity or baby boutique. For example, your average travel system, including a car seat and stroller, can range anywhere from $300 to $1,000, depending on what kind of bells and whistles are included. Bassinets, cribs, and other nursery items also creep up in price when buying new.<\/span> <\/span><\/p>\n\n\n\n

Purchasing gently used items through social media buy and sell pages is an excellent way to find great deals on quality gear without breaking the bank. Parents looking to rid their homes of items their little ones have outgrown frequently list items for a discounted price, with many items being in excellent condition!<\/span> <\/span><\/p>\n\n\n\n

Don\u2019t Go Overboard <\/span><\/h3>\n\n\n\n

We get it \u2013 it\u2019s easy to get carried away with the excitement of expecting, especially as first-time parents! The urge to buy every recommended baby item can often come on strong, but take a step back and evaluate what items you\u2019ll need right away versus what you can hold off purchasing.<\/span> <\/span><\/p>\n\n\n\n

It is important to remember that no two babies are alike \u2013 some may like their baby swing, some may despise it! \u201cLuxury\u201d items like this are best to be purchased after you learn what your little one\u2019s personality is like. <\/span> <\/span><\/p>\n\n\n\n

Budget out the Basics <\/span><\/h3>\n\n\n\n

Baby basics, such as diapers and formula, are often an item that is overlooked but can also soak up the majority of your monthly budget. Within their first month of life, <\/span>a newborn can go through 270 diapers<\/span><\/a>. While many parents opt to use cloth diapers to save in the long run, the cost to create a base supply can be cost-prohibitive with one diaper costing $25.<\/span> <\/span><\/p>\n\n\n\n

Formula, while a necessary item for many moms, can also become costly, especially combined with the cost of bottles, inserts, and cleaning supplies. Formula alone can cost upwards of <\/span>$300 per month<\/span><\/a>, depending on your baby\u2019s age and what their dietary needs are.<\/span> <\/span><\/p>\n\n\n\n

More Ways to Save <\/span><\/h3>\n\n\n\n

While it is an old tradition, one of the best ways to save money is to create a baby registry! Everywhere from specialty stores to Amazon has an option to create a registry filled with everything you hope for and more.<\/span><\/p>\n\n\n\n

Embarking on the journey of parenthood<\/a> requires thoughtful financial preparation. By understanding the costs involved, leveraging available benefits, and planning accordingly, you can create a supportive environment for your new addition.<\/p>\n\n\n\n

If you still find yourself tight on cash but are still needing to stock up on everything your baby needs, you can also reach out to us at Speedy Cash. Our team of Customer Service Representatives, both in-store and online, are ready and willing to help get you the cash you need so you can focus more on what matters as you prep for parenthood! <\/span> <\/span><\/p>\n\n\n\n

Find a location near you<\/a>, or apply for a payday loan today<\/a>!<\/span> <\/span><\/p>\n<\/div>\n\n\n\n