The financial impact of a first child

The financial impact of a first child
The financial impact of a first child

A baby is lots and lots of joy, excitement, a bit of fear and… spending. Yes, it is often said that a baby changes our life: well, it also changes our budget!


After having celebrated the imminent arrival of this being who will soon be part of our lives, we must come back to earth: indeed, the arrival of a baby has its share of practical consequences and, in order not to have bad surprises, it is better to be prepared. According to a 2008 study by ACEF de l'est de Montréal, taken from the document A baby at a low price… for informed parents,a baby can cost up to $13,300 per year. Of course, we are talking here about a family that is equipped with new equipment: there are plenty of tricks to save, like buying second hand. Nevertheless, it remains essential to think about your finances, and do so as soon as possible. You are ready? So how much will baby cost you, the first year? Get out a paper and a pencil, you'll have a better idea in a few minutes!

Monthly expenses

Daycare and Babysitter

  • How much will you pay in daycare per month? These prices vary depending on the institution and your income. If you don't know them yet, knowestimated at $316 (low), $768 (mid) and $1221 (high). You can also enter occasional babysitter fees here.


  • Do you take disposable diapers? This is a current expense. Disposable diapers are estimated to cost around $72 per month.
  • The cloth diapers that you wash yourself will cost you $19 a month. If you use a diaper pick-up and wash service, it's about $76 per month.
  • You can also add about $20 worth of disposable wipes per month if you plan to use them.


  • Milk: If you only breastfeed, it's…$0. Otherwise, add the price of the formula here. Count $10 per month for mixed breastfeeding - but this price may vary depending on the formula chosen.
  • If baby is fed exclusively formula, these costs can rise to $90 or even $120 per month.
  • Solids: From 6 months, baby will start to eat solids. If you make the purees yourself, you will of course save money. On average, it is estimated that baby will eat $50-$60 worth of solid food per month.


  • Babies grow fast! We usually get a lot of clothes given away in the first few months, but it's really difficult to dress baby only with donations. Estimate how much you want to spend on baby clothes. Again, there is amany ways to save: buy used, for example, but also exchange!


  • We strongly recommend that you start investing money for your child's education as soon as they are born. Whether it's $20 or $50 per month, this amount should also be part of your living expenses.

Medicines and toiletries

Also estimate the expenses for medicine and baby toilet accessories: zinc cream, soap, Tempra, oil, shampoo: an amount that should be $20 to $55 per month, depending on your needs and your brand choices

Toys, books

How much will you spend on toys, books and magazines of all kinds? Set yourself a limit not to exceed: the average is $35 per month


One-time expenses

Here is a list of things that most families getting a new child buy. Of course, you can adjust it according to your needs.

Basic Equipment

  • Baby shell (between $60 and $100)
  • Convertible seat (between $80 and $300)
  • Stroller (between $70 and $900)
  • Running Stroller ($100-$300)
  • Park (between $59 and $150)
  • Diaper bag (between $40 and $300)
  • Baby carrier (between $25 and $125)


  • Swing (between $85 and $120)
  • Bouncer (between $30 and $70)
  • Exercise (between $70and $100)
  • Awakening mat (between $25 and $100)

Baby room

  • Crib (between $120 and $850)
  • Mattress (between $60 and $140)
  • Changing table (between $80 and $250)
  • Rocking chair (between $190 and $600)
  • Moses (between $130 and $200)
  • Basic sheets (between $40 and $120)
  • Bedspread (between $50 and $600)
  • Laundry basket (between $20 and $60)
  • Mobile (between $20 and $55)
  • Chest of drawers (between $80 and $500)
  • Lamp (between $24 and $70)
  • Decorations
  • Monitors ($40 to $60)


  • Bottles and teats (about $60)
  • High chair (between $60 and $250)
  • Utensils (about $15)
  • Plates and bowls (about $15)
  • Baby cup and glasses (about $25)
  • Washcloths (about $10)
  • Bottle brush (about $5)
  • Flaps (about $12)


  • Electric pump (between $150 and $350)
  • Hand pump (about $30)
  • Nursing bra (about $75 for 3)
  • Nursing pillow (between $25 and $45)
  • Cream, compresses, bag for milk (about $75)

Bath time

  • Baby towels (about $15 for 2)
  • Baby bath (about $20)
  • Washcloths (about $10 for 5)
  • Brush/Comb (about $8)
  • Nail Clippers(about $3)


  • Security items (about $40)
  • Doors for stairs (about $120)
  • Diaper Jump (about $35)
  • Refill (about $100 for 16)
  • Pacifiers (about $8 for 6)
  • Humidifier (between $29 and $70)
  • Baby Book (between $12 and $40)
  • Photo budget
Thus, by multiplying your monthly expenses by 12, and adding them to your current expenses, you will get a good idea of how much your baby will cost you, for its first year. But, before you panic about the amount of additional expenses you will have to face, remember that you will be en titled to benefits,

tax credits and various allowances.

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