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Welcome!

My padlet is on exploring the costs of parenthood. Parenthood includes many expenses, both expected and unexpected. This padlet contains information on what to expect to spend money on when having kids, the average amount of money families are spending on these costs, and the extra expenses many people don't consider when first thinking about having children such as medical bills, life insurance, and post secondary education. This padlet also includes a webpage of resources regarding benefits families with children can receive through the government to help ease some of this financial burden.

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Summary: A report on child-care costs that highlights the increasing financial burden on Canadian families due to rising child-care expenses.

Why I picked this video: I chose this video because it provides insight into the price of child-care in all provinces across Canada and highlights how much of a difference your location can make in the cost of raising a child. This video also discusses past and predicted trends in the cost of child-care and mentions the governments intentions to better fund child-care spaces. I feel this video is a well-rounded representation of what the cost of child-care looks like.

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Summary: This article discusses unexpected costs that arrive when having children. The article references unforeseen costs such as moving, extracurriculars, and more.

Why I picked this article: Most people are aware of the basic upfront costs of having children. Things like diapers, food, clothes, and school supplies are inherent costs to having children. What many families don't factor into their budgets are extras such as birthday parties, extracurriculars, Christmas, life insurance, allowances, and the million other little things that you're expected to spend money on once you have a child. This article suggests new parents plan for these extra expenses and raises awareness to the kinds of things new parents aren't necessarily thinking about when creating a budget.

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"[Birthday parties] catch a lot of people off-guard," says Rona Birenbaum, CFP and founder of Caring for Clients. "20 times 20 is a heck of a lot of money. It's $400 that you might not have budgeted for." (Getty Images/PhotoAlto/Sigrid Olsson)
Having a baby is expensive. It's estimated that, in Canada, a child will cost you between $10,000 and $15,000 a year until they turn 18. Couple that with recent RBC Economic Research that found women aged 25 to 34 face a 48 per cent income loss in the first year after having a child (while on parental leave). [See Can Canadians afford the new parental leave options?]

We asked a few financial-planning experts to weigh in on the unexpected costs of child rearing and how parents can plan their budgets around them.

1. SPONTANEOUS SPENDING

As a sleep-deprived, caffeine-infused new parent, whipping out the credit card happens easily, cautions personal finance expert Barry Choi, known for his blog Money We Have. These costly activities range from ordering in food too often to splurging on that product that promises to stop colicky cries.

"Being a new parent messes with you," says Choi. "You think you are going to be smart with your money, but when your child comes and is non-stop crying, you do stupid things with your money."

If you do get caught up in careless spending, adds Choi, take comfort in the fact that you have likely cut back on expenses-such as nights out on the town-since having the baby, leaving yourself some room to splurge on conveniences.

"The good thing is, when you have a new child, the odds of you going out to the movies, and dinner are probably less frequent, so it balances it out to an extent," he says. "But at the same time, for some families, it's a real struggle because you are going down to one income."

2. THE UNEXPECTED

If you don't have a will or life insurance, now is the time to get them, advises Rona Birenbaum, CFP and founder of Caring for Clients. You never know what emergency life will throw your way, so protecting your dependents should be a priority. According to a 2018 Angus Reid Institute poll, half of Canadians (51 per cent) don't have a last will and testament in place, with 25 per cent saying they are too young to worry about it, 23 per cent saying they don't have the assets to warrant it, and 18 per cent saying it's too expensive of an investment.

"The moment you have financial dependents, life insurance becomes something that is a responsible thing to do as a parent," says Birenbaum. "A lot of people just don't think about it and don't budget for it."

Wills vary in price, depending on whether you choose to invest in a will on its own, or in a full estate plan. Life insurance costs also vary depending on your age, lifestyle and health condition. Factor these expenses into your budget.

3. EXTRACURRICULAR ACTIVITIES

Beyond making sure you're on daycare waitlists and are, at least, mentally prepared for that hefty investment down the line, there are also extracurricular activities to think about.

You'll likely feel the pressure to join in as other parents around you enroll their little tykes in music classes, guardian swimming lessons and soccer. According to a 2018 Ipsos survey for Global News, 55 per cent of Canadian parents agreed that the cost of their kids' activities puts a strain on family finances, with 32 per cent saying they are using debt to fund extracurricular activities. Money expert Jessica Moorhouse reminds new parents to revisit their family budget regularly to add these new expenses, perhaps finding new ways to save, rather than entering the debt cycle.

"It's difficult to plan for because you don't know what to expect," she says. "Lots of people will just use their credit card or line of credit...but wouldn't you rather over save and have cash? You don't want to start your new journey of being a parent by getting into debt."

4. BABYSITTING COSTS

You may need someone to watch your baby for a couple of hours, but this can cost a pretty penny if you don't have free childcare. Factor in the cost of a babysitter-which can be as high as $17 per hour, according to Canadiannanny.ca-and an evening out for dinner and a movie proves expensive.

On the bright side, as Choi mentioned above, you likely haven't been out in months, so overall entertainment costs have gone down, and heading home early to relieve the babysitter, keeps costs down as well.

5. BIRTHDAY CELEBRATIONS

Party invites for kids start as early the first birthday, particularly if you belong to a parents' group. It only continues as your child moves into daycare, preschool, kindergarten, and so on. Twenty presents later at $20 a pop and kids' birthday parties now have their own line item in the budget.

"[Birthday parties] catch a lot of people off-guard," says Birenbaum. "20 times 20 is a heck of a lot of money. It's $400 that you might not have budgeted for."

Plus, you will also have added expenses when it's time to celebrate your child's birthday, with 20 birthday invitations to send out, buying pizza for kids and their parents, and 20 loot bags to put together. So, adjust your budget accordingly.

6. MOVING EXPENSES

You thought that one-bedroom rental would be big enough for the three of you. They're called "little ones" for a reason, right? All of sudden, you've outgrown your living space with cribs, change tables, strollers, toy bins and tantrums taking over. It's time to move.

This will overhaul your budget, particularly if you are graduating from renter to homeowner, says Moorhouse. Added expenses include moving costs, mortgage and home insurance, property tax and additional utility bills.

"New parents think that the place they are living in is totally fine," says Moorhouse. "Then they realize their neighbours are very loud, there are stairs and no elevator...and they need to move. Now they are new homeowners on top of being new parents."

MORE TIPS ON BUDGETING FOR A BABY

Check out CPA Canada's financial literacy guide: Babie$: The real story of how much they cost. To learn more about estate planning, CPA Canada's financial literacy session, Estate planning: Learn how to create a plan to distribute assets, during life or upon death, can provide more insight.

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6 unexpected costs when having a baby | CPA Canada

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Financial experts weigh in on how to plan your budget around surprise expenses for new families

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Summary: This article discusses the costs of raising a child with autism in Ontario, Funding to help support families with these costs, and what happens when the money to pay for necessary services isn't there.

Why I picked this article: This article addresses a topic nobody wants to think about; what if your child requires extra care? Having children with any kind of physical or cognitive impairment often means paying for extra specialized services or medical devices on top of expected expenses. While there is funding and support for this, it is often not enough. On top of these added expenses, depending on the level of care your child requires one parent may have to quit their job in order to become a full-time caretaker. It is important for parents to consider whether or not they'd be able to properly support a child with extra needs.

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I've worked in the field of Autism and ABA therapy for 16 years. I've worked with a lot of children under different funding circumstances. Some (few, very fortunate) families have the means to pay out of pocket for the services that their child needs. Most families rely on provincial and federal funding to pay for therapy and other services that their child requires. When the funding is used up services are often put on hold.

According to a report released by the Ontario Association for Behaviour Analysis, the cost of supporting a child with autism can range from $26k to $130K per year.

Having my own therapy services company has allowed me to see the heartbreak of a family pausing services. Services that were improving their child's life. Services they just cannot afford. We offer a sliding scale, we work with families to figure out payment plans, we advocate to the government. Sometimes families just don't have another option and pausing services is necessary.

What autism funding is available to families?

There are a few different programs that cover some of the cost of raising a child with autism. Right now, families in the province can apply to the Ontario Autism Program for funding for their children with autism diagnoses. The funding allotments are based on age. With children under 5 years old receiving $20K and children over 6 years receiving $5K. In August, I wrote a short blog post about the OAP's history. The government claims to be working (but this post isn't about politics!) towards implementing a needs-based funding model. Needs-based funding gives families the funding they need to get the therapy their child requires. Side by Side Therapy offers excellent ABA Therapy near me.

Special Services At Home (SSAH) is a provincial program that helps families pay for services both inside and outside of the home. The amount of funding that each child receives is based on what their needs are, what other services they are accessing and other available community resources. SSAH funds are meant to aid families in two broad areas: personal development & growth and respite. Also, there have been changes to the SSAH eligible expenses due to Covid19.

Assistance for Children with Severe Disabilities is a fund for low to moderate income families who have a child with a severe disability. The funds provide financial relief for families raising a child with a severe disability. The amount of funding received depends on the size of the family, the family's income, the severity of the child's disability and the costs associated with raising the child.

What else is out there for autism families?

Disability Tax Credit (DTC) provides tax relief to a person with a disability or their parents (if under 18) to account for some of the cost of living with a disability. To qualify, a medical practitioner has to complete a form that states that your disability is severe and prolonged.

Registered Disability Savings Plan (RDSP) is a savings plan that helps parents or others save for the future of a person with a disability. Withdrawals made from an RDSP they are not considered taxable. The beneficiary of the RDSP must qualify for the Disability Tax Credit.

Canada Disability Savings Grants (CDSG) is a matching program offered by the federal government. They will match your deposits up to 300% (Based on your income and your contribution). You must have a RDSP to qualify for the grants. Canada Disability Savings Bonds (CDSB) is the money that the Canadian government contributes to the RDSP's of low and modest income families. You can receive up to $1,000/year with a maximum contribution of $20,000. The amount you receive is dependent on your family's income.

Autism Ontario has some one to one worker reimbursements available for families. The child's name is entered into a draw when the application and proof of diagnosis are submitted. Approximately 500 children receive the grant each year.

Jennifer Ashleigh Children's Charity is available for families experiencing financial pressures of raising a child with special needs. The fund covers a variety of things from emergency costs to housing costs incurred while caring for your ill child. They also cover some therapies.

Conclusion

A parent pointed out to me that perhaps it isn't the number of funds or the amount of money that's available that is lacking in our province. But rather that the application process is too difficult and too confusing for many families. Come back soon to read more about the funding in Ontario.

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Autism in Ontario: What funding is available?

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Autism is expensive. Utilize these funds to help offset some of the extraordinary costs associated with raising your child.

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Summary: This video discusses the statistics on the average amount of money parents will spend per kid over their childhood.

Why I picked This video: The first reason I picked this video is because it provides "big picture" numbers. The financial realities of having children become much more clear when you see the total average cost upfront. The second reason I selected this video is because it shows a second set of numbers adjusted for children who live in the family home past the age of 18, which is becoming increasingly more common with today's real estate market and cost of living. The final reason I included this video is because it shows statistics for families of all income levels.

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How much does it cost to raise a child in Canada?

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Summary: This is a news clip from CBC discussing the rising cost of food and what it means for families. The clip includes an interview with a Canadian mother of 4 explaining the realities of trying to feed her family.

Why I picked this video: I picked this video for a few reasons. First, I like that it talks to a real parent instead of just showing the statistics, I believe this communicates the reality of parenthood more thoroughly than hearing the numbers. The second reason I picked this video is because basic necessities such as food are rapidly rising in cost. Raising a child, even in a "bare bones" fashion, is becoming increasingly more difficult and parents are having to cut back, make due without, scrimp and save, and budget very carefully.

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'Not been able to save up,' mother of four talks about rising food prices

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Summary: Government of Canada family and caregiving benefits page. It contains links to information on benefits that encompass maternity and parental leave, child benefits, caregiver benefits, compassionate care benefits, and more.

Why i picked this website: This website contains crucial information about benefits and programs geared towards families and caregivers. Understanding these benefits and what you qualify for is an important aspect of creating a comprehensive financial plan for families. It is important to consider what types of assistance and support will be available to you during critical life stages such as parenthood and child-rearing.

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Benefits to help with the costs of raising children, including children with disabilities. Employment Insurance benefits such as maternity, parental and caregiving benefits and leave.

Services and information

Tax-free quarterly payment to help individuals and families with low or modest income offset the GST/HST they pay.

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Employment and Social Development Canada

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Canada Child Benefit to help with the costs of raising children, benefits for raising a child with a disability, Employment Insurance benefits such as maternity, parental leave and compassionate care, calculators to estimate benefit payment amounts to which you may be entitled.

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Summary: This article discusses the cost of birthing a child in Canada for both Canadian citizens and those here temporarily. The article also talks about what this money is paying for.

Why I picked this article: Most people account for the cost of things once the baby is here, but the expenses start well before that. While Canada provides better and less expensive healthcare than other countries, it is not entirely free. Copays, prenatal vitamins, maternity clothes, insurance costs, and more are all extra expenses parents will face before their child even arrives. Conditions such as perinatal depression, postpartum depression, and birthing injuries can add to these costs even more.

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Giving birth is broadly known to be one of the most beautiful, transformative, and life-changing experiences you can go through. If you are pregnant or plan to have a baby, you know the costs of giving birth can add up quickly.

That's why it's essential to find out how much hospitals charge in Canada before deciding where to give birth to your child.

The cost of giving birth in Canada varies depending on where you live and the kind of birth. A "typical" birth in Canada costs an average of only $3,195.Cesarean deliveries cost an average of about $4,600 per patient, which is higher than normal. For the non-residents without insurance normal births range between $CA5,000 - $CA8,000 and for c-section birth: $CA10,000 - $CA12,000.Canada has high-quality facilities that offer the best while giving birth.

Here we'll tell you everything you need to know about costs associated with having a baby in Canada?

1. Prenatal Care

Prenatal care refers to visits to your doctor or midwife throughout pregnancy. Your province may cover all or some of these costs. You may also need to buy a new wardrobe if your old clothes don't fit anymore!

2. Prenatal Classes

You may need these classes if you are a first-time mother or have a long time since you had a child. If these are privately run and not at the hospital, they cost between $150 and $350 per workshop.

3. Physiotherapy

Chiropractic care or physiotherapy for pelvic pain and sciatica or backache are covered in most provinces. You won't have out-of-pocket costs unless you see a chiropractor or physio outside your area.

4. Midwifery Care

If you don't have a family doctor or are looking for extra support during your pregnancy, you can choose to be followed by a midwife. Midwives provide care throughout pregnancy and during labor and birth. They'll also follow up with you once the baby is born to ensure everything is progressing well. They charge approximately $ 2500.

5. Obstetrician $500 to $1,500

Having a baby is considered a surgical procedure. Many women choose to deliver their babies by an obstetrician (OB). An OB will perform any surgery necessary during labor and delivery and can be consulted before birth if there are any concerns with the baby or mothers.

6. Labour and Delivery

If you deliver at home with the help of a midwife, labor and delivery can be significantly cheaper than delivering at a hospital with an obstetrician. If there are any complications during childbirth or if you need medications during delivery, these can affect the total out-of-pocket cost.

7. Nursery Stays

In hospitals where birthing rooms are available, many women choose to have their babies in the room with them after birth. If you prefer to have your baby in the nursery, this will usually be an extra charge (which may be covered by your health care plan).

8. Birth Control

After you give birth and you are not ready to have another baby right away, there may be costs associated with birth control to consider as well. The pill costs about $15 per month if you don't have provincial coverage for prescription drugs.

9. Postpartum Expenses

Once your baby is born, there will still be some postpartum expenses to consider. If you're breastfeeding, the cost of formula is eliminated from the equation - but there will still be diapers and other supplies to buy. Most hospitals will give new parents a starter kit with samples and coupons to get them started on their journey.

10. Ultrasound Scans

Most hospitals require at least two ultrasound scans to track the baby's growth and development. Additional scans are sometimes needed if concerns about the pregnancy or the baby.

11. Postnatal Care

Postnatal care is essential for mothers who experience postpartum depression. This is a severe mental health condition that affects many women in the weeks and months following the birth of their child.

It can be challenging to recognize, as it's often mistaken for the "baby blues" - a common term used to describe anxiety or sadness that most new moms experience after childbirth.

If you're experiencing a combination of these symptoms, it's essential to seek help earlier and start treatment for quick recovery.
Signs of postpartum depression

Hallucinating - hearing, seeing, smelling, or feeling things not there.

Being delusional - having thoughts or beliefs that are unlikely to be true.

Manic mood - talking and thinking too much or too quickly.

12. Insurance Premiums

If you have private insurance, there is usually a monthly fee that pays for your care if you get sick or need to see a doctor. As a child is considered a dependent, they would be covered under your plan and not require separate coverage.

13. Maternity and Parental Benefits

There are two types of maternity and parental benefits available in Canada: maternity and parental benefits.

Maternity benefits are specifically for pregnant mothers who have recently given birth. Parental benefits are available to either parent after they give birth or adopt a child.

The amount of money received from these benefits depends on the province or territory. Some areas offer more than others.

14. Breastfeeding

Breastfeeding saves money because it's free and has been shown to reduce instances of childhood illness in babies and lower their risk of obesity.

It also has health benefits for women who breastfeed, including reducing their breast cancer and ovarian cancer risk. This can result in lower future medical costs.

15. Your Ambulance Service May Be Free or Partially Covered

Depending on where you live and the type of hospital, you may pay a small fee for your ambulance service.

This fee could be anywhere from $45 to $250, but don't worry, as these costs are usually minimal. Some provinces may even waive the fee altogether.

In Ontario, for example, if you're giving birth at a municipal hospital, you won't have to pay anything for your ambulance ride. If you're giving birth at a non-municipal hospital (like a community hospital), you'll have to cover some costs yourself.

16. Other Expenses

Pregnant women need maternity clothes and other items for the baby. Unless you already have these things (or someone gives them to you), there will be some shopping to do or maybe a trip or two to the thrift store. There will also be extra food costs if you eat for two (and a little one).

Will all this, you need not worry much about whether you can manage the expenses of giving birth in Canada.

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How Much Does It Cost To Give Birth in Canada? 16 Things to Know - Canada Better

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Giving birth is broadly known to be one of the most beautiful, transformative, and life-changing experiences you can go through. If you are pregnant or plan

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Summary: This article discusses the average cot of a post secondary education in Canada, as well as how your money is distributed.

Why I picked this article: While having children doesn't necessarily mean you have to pay for their education past the age of 17, many parents do. In this day and age a post-secondary education is becoming more and more necessary whether it be through college, university, or trade school. While your children will have the ability to work and apply for student loans by the time they're looking at going to school, many students struggle financially and still depend on their parents for extra financial support. Many parents wish for their children to be able to study without the added stress of a job or financial troubles. This websites lays out the numbers of how much it actually costs to fund your child's education past high school. Knowing these statistics allows families to plan well in advance for their children's education, which is an important thing to do considering the cost.

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The cost of a Canadian university education in six charts

Tuition is only part of the cost of going to university. There's also the cost of books, food, travel and the occasional beer. Here's how students finance their education.

Students living at home spend $9,300 per year on average. For those who move away, it's closer to $20,000. We asked 23,384 students how they pay for school and where they spend their money. Here's what they told us.

1. The total average cost of a post-secondary education

2. Where does the money come from to pay for school?

First, the good news: only half of students are in debt. Now the bad: parents are picking up the slack-and not in a very efficient way. Nearly two-thirds of students say they don't have an RESP.

3. The cost of books by program

Course materials account for a fraction of the total cost of university, but they still add up. Here's how the least and most expensive programs compare on the cost of books.

The average level of debt by each year of study, based on responses from more than 11,000 indebted students.

5. Spending on food on campus in a typical week

6. How much do you spend on groceries in a typical week?

This is an update of a story originally published on October 19, 2017.

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The cost of a Canadian university education in six charts | Maclean's Education

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Tuition is only part of the cost of going to university. There's also the cost of books, food, travel and the occasional beer. Here's how students finance their education.

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Summary: This website shows the average price, down payment, and benchmark price of homes in Canada. The website also shows the average cost of a family home in each province.

Why I picked this website: Depending on where you live you might choose to raise your child in an apartment or condo, however most families in Canada desire a detached family home. As the cost of housing increases, it is becoming more and more unrealistic to manage to afford a house that fits a young families needs and remains affordable while paying for the cost of child related expenses such as childcare, extracurricular, school supplies, formula, and diapers. It's important to know how much it will cost to raise your family in the environment you desire. Knowing what provinces can offer what you need at a reasonable price is also imperative to family planning. Some families might look at these statistics and realize that an apartment is the smarter choice financially due to the lack of maintenance fees and property taxes, while others may decide a house is within reach but only if they move out of province. Rent or Mortgage payments are often our biggest expense each month and it is a crucial thing to consider when deciding to have kids.

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Canadian Housing Market Report Nov. 16th, 2023 | Interactive Map - WOWA.ca

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Home prices in Canada continue to rise at a steady pace, with the national average hitting $656,625 in October 2023. This represents a 2% year-over-year increase and a 0.2% month-over-month increase.

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Summary: This article discusses the average costs of extra activities for children and the most and least affordable extracurriculars.

Why I picked this article: Growing up my brother and I each played a summer and a winter sport every year. Despite being raised in a middle class family, the expenses that came with activities such as Hockey and Dance lessons were a financial burden. Most parents want to provide their kids with more than the bare minimum, they want their children to be able to pursue their interests whether it be sports or art classes. These activities are very expensive, and often come with added fees on top of the actual lesson price such as sports gear and supplies, fees for competitions, travel fees, etc. his article highlights the real amount families are spending on these activities and what activities it might be possible for your kids to participate in without breaking your budget.

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Canadian parents spent an average of $1,120 to enroll their children in extracurricular, community and sports activities during the last school year, according to a new Ipsos poll commissioned by Global News.

For some, the cost of a busy after-school schedule was even higher, with nearly one in 10 parents shelling out over $2,000.

And many families are overstretching to pay for it all, with over half of parents saying the cost of kids activities puts a strain on family finances.
READ MORE: Cost of extracurricular sports pushing parents to borrow from future funds
Nearly a third of respondents who were Gen X parents (between the ages of 35 and 54) said they had taken on debt in order to pay for things like dues, fees and equipment. The share of Millennials (between the ages of 18 and 34) who said the same was smaller, at 26 per cent, possibly because these younger parents have kids who aren't old enough yet to independently attend such activities. Only 12 per cent of Baby Boomer parents said they resorted to debt to bankroll their children's extracurriculars.

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READ MORE: How much does it cost to raise a kid in Canada?
Looking at the upcoming school year, nearly 45 per cent of parents said they will enroll their kids in at least one activity. A quarter of respondents will sign them up for two activities, while a third is planning on filling their schedule with three or more extracurriculars.
WATCH: Parents struggle to balance paying for kids' activities and saving
Swimming is the most popular and affordable activity

When it comes to choosing activities, this year's most popular choice is swimming lessons, according to the poll. Forty per cent of parents said they plan to send their children to the pool.

While more and more families recognize swimming as an essential skill, part of the appeal might be the price tag: Swimming classes are the most affordable extra-curricular option, with parents expecting to spend less than $200 per child this school year.

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WATCH: Babies make a splash in swimming lessons for newborns

And surprisingly for a hockey-crazed Canada, it was soccer that came in as No. 2 on the list of most popular activities. Fully one-quarter of parents said they would sign up their little ones for the ball game this fall. By comparison, only 15 per cent said they planned to have their kids play hockey.

Price may have something to do with the newfound popularity of soccer, too. Parents anticipated spending just shy of $250 to get their kids to kick a ball around a soccer field. By comparison, families expect to pay $755 on average on hockey, the most expensive of all activities reviewed by the survey.
READ MORE: Extracurricular activities vs. play: which is better for kids?
The table below shows the list of extracurriculars we presented to parents, with the activities ordered by perceptions of being most to least expensive:

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In some cases, costs vary considerably from province to province. For hockey, for example, parents anticipated spending nearly $1,200 on average in Alberta, almost $995 in Atlantic Canada, $708 in Ontario, $756 in B.C., $634 in Quebec, and as little as $450 in Saskatchewan and Manitoba.

The average expected cost of soccer ranged from $188 in Ontario to $488 in Alberta. Swimming lessons are cheapest in Quebec (average yearly expected spend: $160) and priciest in Atlantic Canada (almost $212).

WATCH: Are Canadians foregoing their retirement savings so their kids can play hockey?

Can't settle on a single class? There might be a kids pass for that

Like many parents, Andrea Cozza, 36, loves how her children get to try out new things through their extracurricular activities.

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The Toronto-based teacher manages a busy schedule for her two boys, who are five and seven years old. There are swimming lessons, basketball and a host of activities offered through after-school programs, from judo, through piano classes, to science club. Thursday is their only afternoon off during the school week.
READ MORE: Back-to-school checklist: 4 things you need to know
"It's exhausting, but it's a lot of fun," Cozza told Global News.

Although she plans to pull back a bit when the kids are older, the current whirlwind of activities allows them to experiment and figure out what they like and might become passionate about.

Plus, sports teach team building and discipline, she reckoned.

Still, allowing the kids to sample a variety of extracurriculars has also meant putting up with some mid-year changes of heart, she said.

WATCH: U.S. bans heading in kids' soccer to prevent head injuries

Both her kids, for example, quickly grew tired of hockey, something Cozza noted with mixed emotions.

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On the one hand, she had been a little worried at the price and time commitment that comes with higher-level hockey playing. She was relieved when neither of her boys showed interest.

On the other hand, the family had spent $650 per child in fees and hockey equipment.
READ MORE: Child care costs in Canada: The most and least expensive cities
Parents of kids who want to be a soccer player one day and a hip-hop dancer the next may want to opt for a kids pass.

In Toronto, PipsPass.com, offers the ability to sign up for a pass for three, five or 10 activities from a city-wide list of extracurriculars and events. Parents can choose anything from suspension yoga to beginner French classes without committing to a weeks-long course.

The pass can be used to help kids make up their minds about which activity they'd like to try for the rest of the school year. Or it can be a used for activities that work on a drop-in basis, said Arielle Holden, who co-founded the company with her sister.

In Vancouver, Kidsworld offers a similar service, although its passes have a heavier focus on family friendly events.
The Ipsos poll commissioned by Global News was conducted between August 16 and 22, 2017. For this survey, a sample of 1,001 Canadians parents aged 18 and over from Ipsos' online panel was interviewed online. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The poll is accurate to within ±3.5 percentage points, 19 times out of 20, had all Canadian parents been polled.

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The cheapest and most expensive kids activities in Canada: Ipsos poll - National | Globalnews.ca

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Swimming is the most popular and most affordable.

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1. What did you learn about your topic that surprised you the most?

Nothing really surprised me about this topic. At this point, we're all aware of how big of an expense children are. I think the biggest surprise for me had nothing to do with how much it costs to raise children, or the financial realities of raising them, but the extent of all the things you need to pay for. Children require so much help and guidance, they aren't capable of real independence for quite some time. Not only do you have to pay for everything your child needs but you also have to keep track of all of it. There are so many more bills and deadlines to remember and worry about, it's not surprising to me when things get missed.

1. Provide a real-life example of how this topic is relevant or interesting for you.

I personally do not want to have children, this is a very unpopular opinion that many people wish to engage in arguments over. While I don't plan on having kids and therefore this information is not relevant to my financial wellbeing, I think it's important to understand the "why" behind my decision and be able to defend my position when the topic comes up. The realities of budgeting with children are a great way to back up my decision to not have any.

1. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

I think he most important thing to pass on is to expect and prepare for the unexpected. When most people imagine having children, they imagine a fairytale. People know that children cost money but I think they avoid thinking about how deep those costs can go. While it is an awful thing to think about, your child could be seriously ill or disabled leading to extra costs, your spouse could die leading to extra costs and one less income, terrible things happen to good people all the time and we often don't prepare for these possibilities simply because it is less stressful and scary if we pretend they won't happen to us. Planning for the worst is a crucial aspect of readying yourself financially for parenthood. Can you afford life insurance? can you afford your children on your income alone? Can you afford medical and other expenses for a child who is severely injured, ill, or disabled? These costs are always overwhelming if you're unprepared for them.