Babies

In this episode of Money Questions, Nate (no kids) and Matt (dad of two) break down the real financial impact of having a baby in Canada. They cover:

The true cost of raising a child, including the first-year expenses
Delivery costs: deductibles, co-pays, hospital rooms, and planning around health insurance.

Baby gear on a budget: cribs, car seats, strollers, and the value of buying secondhand.

Parental leave & income: EI/parental benefits, employer top-ups, and planning for reduced cash flow.

Emergency savings & credit options during that first unpredictable year
The rising cost of childcare and how it shapes decisions about where to live and work.

Risk management: income protection, disability coverage, life insurance, and wills/guardianship.

Long-term planning: prioritizing retirement vs. kids’ activities, and using RESPs and government grants to save for education.

Grounded in Matt’s real-life experience and Nate’s planning lens, this conversation gives expecting (and surprised) parents a practical framework to think through money, risk, and long-term goals when a baby enters the picture.