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(WEBSITE 1) The Cost of Babysitting is Unsettling.

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(WEBSITE 1) The Cost of Babysitting is Unsettling.

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Babysitters are expensive. Without a doubt you will be spending thousands of your hard earned dollars towards trusted early childhood workers to make sure your child is safe and sound while you and your partner can work hard to earn that money back. Private babysitting is way more expensive than government subsidized child care; however, the quality of many government care facilities is reportedly somewhat dodgy... this is one of those decisions that change from each individual. If you are aiming to save money on babysitting, then go with the government on this one.

This article highlights the costs of babysitting in modern times and how it is a financial strain on parents nationwide. The main takeaway from this article is that you should definitely plan way in advance to get your hands on a good babysitter/daycare, because the lines are long and the cost to cut those lines is high. The most valuable piece of information I found in this article is the pricing of modern daycares and babysitting, which often times costs more monthly than a full-time minimum wage worker makes each month.

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How Much Does a Babysitter Cost in 2024?

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According to two babysitting experts, here’s the answer to “how much is a babysitter?” including what factors to consider for the cost per hour.

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(IMAGE 1) No Room Can Look This Cute and Safe Without Costing a Fortune.

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(IMAGE 1) No Room Can Look This Cute and Safe Without Costing a Fortune.

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Everything within this room does not look like it would cost too much... however, with some simple research of baby furniture I have found that everything shown is close to $3000...

I found this image relevant because I believe this closely reflects what most parents want for their child - a safe and comfortable room that looks happy and bright. If you want a room like this for your child, look out closely for sales at Walmart, Babies 'R' Us, Winners, Homesense, etc.

Picture is provided on behalf of Padlet.

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(IMAGE 2) Nobody Expects To Require Formula For Their Baby... But When They Do, The Cost Is Big.

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(IMAGE 2) Nobody Expects To Require Formula For Their Baby... But When They Do, The Cost Is Big.

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I have included this image as a reminder that you may want and expect to breastfeed, however, sometimes our bodies cant do what our baby needs it to. That's where formula comes in, to act as a replacement for breastmilk in developing children... it also comes in at a hefty price at an average of $50 per bottle - yikes.

I think this image is interesting because it acts as symbolism for the unexpected costs of becoming a parent, always have money aside in a savings account with interest to use when you least expect to need it.

Picture is provided on behalf of Padlet.

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(VIDEO 1) The Financial Barriers Are Too High For The Younger Generations...

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(VIDEO 1) The Financial Barriers Are Too High For The Younger Generations...

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It is nearly impossible for most individuals under the age of 35 to afford a child, but why? It is because the current Canadian economy is just simply very poor and is being handled very badly by our government. It is a major financial stress to have a child, and an even bigger stress actually trying to find the money to pay for what you need. There are a surplus of people, and a high demand for jobs that simply do not pay enough or they do not exist.

This video stands out to me as it discusses the elephant in the room for all young parents and those who wish to become a parent, but cant because of the financial barrier to living that life. One piece of information that stands out to me is that Gen Z parents are treated like children, paid like children, but they work like adults and often lack solid role models from previous generations to be able to follow in the footsteps of. It feels like the younger generations have been left to suffer due to the ignorance of older adults and parents.

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(WEBSITE 2) The Economy Hurts Our Ability to Have Babies... and Vice Versa.

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(WEBSITE 2) The Economy Hurts Our Ability to Have Babies... and Vice Versa.

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During modern times the economy has been in a recession, inflation prices at an all time high, and the financial stability of families are slowly vanishing because of this. The economy is the pool of money that we all take from when we earn money and give back to when we spend it. The middle man of this operation is the consumer... who as of late cannot consume as much as the prices of everything are through the roof. If people cannot buy as much as they could, that means less money is flowing back into the economy and into the hands of the few billionaires who are at the top of all of these financial institutions, companies, and agendas. The only way to force the economy to move faster is by increasing supply and demand (two things that are both falling apart in todays economy). This economic trouble is leading to more financial stress amongst general middle and lower class adults. Knowing how expensive a baby is, this acts as a socioeconomic deterrent to having children... which snowballs into a worse issue - less children are being had, which means less future consumers are being raised.

This article highlights how this economic downhill shift is currently taking place and what it means for the future of our children. I included this article as it highlights a major issue that needs addressing in todays economic world - prices that hurt babies, leading to a lack of baby's to grow up and pay the price. The economy is slowly coming to a demanding stand-still and it doesn't look good for our children and their offspring. The economy goes up and down, but with how it is being handled, this crisis may be in even harder conditions for our children when they want to have kids of their own. One piece of information that I found valuable in this article is how blind people are to this issue, speaking on how everyone is distracted by the "now" and not with the issues we are bringing onto our children/

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Cost-of-living crisis means more Canadians are putting parenthood on pause | CBC Radio

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A growing number of Canadians are delaying parenthood or choosing not to have children at a time when Canada’s fertility rate is at an all-time low.

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(VIDEO 2) Your Health Matters Too, So Let's Get The Finances Sorted So You Can Be Okay...

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(VIDEO 2) Your Health Matters Too, So Let's Get The Finances Sorted So You Can Be Okay...

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This video delves into how financial stress can severely affect you physically, physiologically, and psychologically. It explains how the stress can destroy your daily routine, reduce your focus, and ruin your sleep.

I chose this video because it doesn't take a genius to figure out that a parent who doesn't have control of their sleep or mental health may not be able to do the absolute most for their baby. Taking care of your financial issues by saving and reaching out to benefit/financial aid programs can lead to a calmer mind, a more focused edge, and being able to get at least some sleep with a crying baby. I like how this video discusses how financial stress doesn't just affect your mental health, but your body too. I also liked using this video to bring in the bigger picture of how important it is to take care of your financial issues before becoming a parent, because failing to do so puts your health in jeopardy.

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How financial stress affects your health

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This article by healthline discusses the best ways to budget for you and your baby. Budgeting is something that is often overlooked, however essential when you find yourself in a stressful financial pickle... such as being a parent. You can avoid making financial mistakes, ending up in debts, and wasting money by budgeting every cent you make and making sure that you can afford what you need, get what you want, and still be alive at the end of the day to tell the tale.

The article highlights how budgeting can save you if done correctly. You need to take into account every purchase possible... not just the big expenses, but ration the small ones too and be wise with your spending on certain brands.

This article thoroughly discusses the costs of each essential part of your early parenthood from the exact monthly costs of diapers to the amount you should spend on average regarding clothing for your child during different developmental stages.

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The most recent estimate of how much it costs to raise a child from birth through age 17 is a whopping $233,610, according to the United States Department of Agriculture - and that's not including higher education.

But what about your baby's first year? Experts say this number may be between $20,000 to $50,000 depending on where you live, what insurance you have, and what your child care needs are.

In general, the most expensive part may be the costs you incur before your baby is born (prenatal care) and then the actual delivery. Here's a rundown of what costs you can expect, where you can save, and some tips for how you can budget ahead of time.

Your baby needs between 6 and 12 diapers each day, possibly more in the early weeks. The American Academy of Pediatrics shares that families may spend close to $936 on disposable diapers in the first year (about $18 per week).

This cost can be a strain on families and even lead to practices like less frequent changing, which can cause diaper rashes and other health issues.

Cloth diapers are an option that can be reused again and again after washing. There are a range of types, from pre-folds and covers to all-in-one diapers. They each have their own costs, benefits, and drawbacks.

Of course, you'll also need to factor in convenience. And if you plan to send your child to day care, you'll need to see if the day care requires disposable diapers or will accommodate cloth.

For the sake of comparison, Carrie at The Simple Dollar shares a detailed analysis of her cloth diapering experience in the first 2 years of her child's life. Her costs for the first year totaled $930.08 ($705.53 in actual cloth diapers, $51.00 in detergents, and $173.55 in utilities and water).

While this amount is close to the disposable diaper cost for 1 year, the real savings was realized in the second year of diapering, which only cost detergent and utilities. So, the total for 2 years of diapering was $1,154.63.

How to save money on diapers

If you're having a baby shower, consider asking your guests to bring diapers instead of cute clothing or extra toys. It's wise to request a few different diaper types, so you can see which works best for your baby - and which are easiest for you, too.

And if you have the extra storage space, you can also request a range of sizes, so you're covered as your baby grows.

Planning to do cloth? Check out local secondhand baby stores or parent groups to see if they sell gently used cloth diapers. While the concept of used diapers may sound a little iffy, they work great and you can save a lot of money this way.

Your baby will spend a lot of time eating in their first year. How you supply the food is up to you, and each method comes with its own price tag, supplies, and considerations.

Breastfeeding

Breastfeeding or chestfeeding is usually the lowest cost feeding option for your baby. The milk is free, but you'll need to consider the cost of:

If you're planning to breastfeed, it's a good idea to have a breast pump.

If you have health insurance, check with your provider before buying one to see whether your plan covers a breast pump. Many do, and it just takes a little paperwork to save big on this essential item.

If you decide to purchase a pump on your own, hand pumps are the least expensive and may cost between $30-$50, depending on the brand. A quality double electric pump runs quite a bit more, between $120 and $350. Hands-free versions may be even more expensive.

In addition to a pump, you may want or need other supplies. Many are optional, but the costs can add up.

Nursing bras, shirts, and other clothing: $12 to $20 and up

Nursing cover: $10 to $40

Nursing pillow: $10 to $50

Nursing stool: $5 to $35

Breast milk storage bags: $10 to $15

Lactation consultant: $0 to $300 or more depending on type of visit, where you live, and your insurance coverage

Baby formula comes in a wide range of brands and types, and the cost can vary significantly depending on the formula you choose. Powdered formula is usually the least expensive option, and it may cost between $70 and $150 per month.

Your monthly expenses may be higher if you decide to use liquid or organic formula, or a more expensive brand. Keep in mind that your monthly expenses usually go up as your baby grows and eats more per feeding session.

On average, according to experts, babies consume the following formula amounts daily:

0-1 month: 24 ounces

2-3 months: 32 ounces

4-6 months: 28-32 ounces

7-9 months: 30-32 ounces

10-12 months: 24-30 ounces (as baby consumes more solids, they take less formula)

Often you can request samples or coupons from formula manufactures, like Similac. They may also offer subscription discounts if you order directly from the manufacturer's website.

Generic formulas are another option if you're looking for quality with a lower price tag. All generic formulas sold in the United States must meet the same Food and Drug Administration (FDA) safety and quality standards as their name brand counterparts.

You'll likely need to use certain types of formulas that are approved by the program unless your child requires a different formula for a medical reason. Covered formula brands do vary by state.

It's important to mix formula properly according to the directions. Adding less powder to the bottle to conserve the formula and decrease costs is extremely harmful to baby.

To start, many parents choose to offer purees or very softened table foods, like steamed carrots, avocado, banana, and applesauce. Initially, your baby will only be tasting these foods, so it likely won't cost much.

As your baby starts to eat more variety of foods, you can choose to offer store-bought baby foods or make your own at home.

If you buy all store-bought purees, it may total around $50 per month or more.

Otherwise, you can steam and mash foods at home with tools you already have on hand. A dedicated baby food maker, on the other hand, may cost between $50 and $125.

Baby clothes keep your little one comfortable and clean. That said, it's easy to go overboard and buy well beyond your baby's basic needs. How much and what type of clothing your baby needs has to do with things like the climate where you live and your everyday life.

Experts estimate that what you spend on clothing in the first year may average out to about $50 each month ($600 for the year). You may very well spend far more or less than this average, though.

For example, if you're home most of the time, you may choose to dress your baby in simple onesies and sleepers. If you're out and about, you may need more outfits and outdoor clothing.

You can also find gently used clothing at thrift and consignment stores, yard sales, online parent groups, and other sale sites. And if you ask around, you may very well be able to find a bunch of hand-me-downs from willing parents looking to free up closet space.

Prefer new clothes? Shop sales. Once you find a store you like that matches your budget, you can keep an eye on their yearly sale rhythm to maximize your dollars.

Cribs and strollers and car seats, oh, my! There's a whole world of gear for your baby, and it's enough to make your head spin. Wading through what you absolutely need and what might just be nice can be difficult, especially when it comes to baby.

It's a good idea to sit down and make a list of your must-haves.

What makes your must-have list will be very individual to you and your family's lifestyle and needs. Resist the temptation to buy baby gear based on novelty.

And if you're on the fence about something, see if you can wait until your baby actually needs it to purchase. As time goes on, you may see that you don't absolutely need a fancy baby rocker, for example.

Once you have your list of must-haves, it's a good idea to add up the prices so you can start to budget. Keep in mind that baby gear comes in a wide range of prices - and being more expensive doesn't necessarily mean an item is safer or better.

If you're having a baby shower, you may be able to set up an option for guests to contribute a portion of the cost for some of the more expensive items. You can also keep an eye out for sales to help reduce costs for some of the gear you may not need right away.

Another great way to save is to borrow or buy gently used baby gear from your friends or family, or even at consignment stores, yard sales, or swap meets. When using second-hand items, be sure to inspect them carefully for any damage.

Also check online or call the manufacturer to ensure there are no recalls or safety issues.

Costs for child care vary wildly, depending on your:

You may be a stay-at-home parent or have a flexible job and be able to work from home with little to no child care. You may have family willing to watch your baby for free. Or you may work full time and need full-time care in a major metropolitan area.

Popular financial site NerdWallet ran an analysis on child care costs for families with incomes around $40,000 and $200,000. It found the approximate range to be between $8,000 and $27,000 per year. Of course, with all the variables, it's important to investigate the costs of different types of care in your area.

Nannies are child care providers who either live in or come to your home and watch your child. Nanny search site NannyLane shares that the national average wage is $19.14 per hour for a full-time, live-out nanny and $16.75 per hour for a full-time, live-in nanny (plus a place to stay, of course). For part-time or short-term nannies, these prices are around $17.80 per hour.

So, if you're looking for 40 hours of care from a live-out nanny, that's about $765.60 each week for one child. Where you live makes a big difference in this price, however.

Other factors that impact pricing are:

the number of children you have

the years of experience your nanny has

any overtime you might need

additional work duties you assign, like light housework or cooking

You may also see nanny shares, which is a lower cost situation where you share a nanny with another family or families.

Whatever type of nanny you choose, it's important that they (and all other caregivers) have CPR training, which is an additional cost. You may also want to consider paying for a background check to help ensure your little one's safety.

Many babies and children go to day care centers. These are places where multiple families take their children to be watched in a group setting with a number of child care providers. For this reason, day care centers tend to be less expensive than nannies.

A Care.com survey revealed that in 2019 the average cost of day care center care was $728 per month or about $9,000 per year. The average cost can be a lot higher if you live in a major metropolitan area, however.

There are other group child care settings, like in-home day cares, which may be even more affordable. You should always check to see if in-home day cares are licensed before signing your child up for a spot.

Babysitters

To go out for the occasional date night, you'll want to hire a babysitter. Babysitter search site Sittercity shares that the average hourly rate for babysitters in 2021 is $16 per hour. This price will vary depending on:

the age of your child

the number of children you have

your location

your babysitter's years of experience

Your baby needs basic medical care to ensure they're developing on target and are protected from certain illnesses and diseases (immunizations). This means you'll take them in for wellness visits with a pediatrician or family doctor.

The cost for this care will depend on your health insurance. Many providers cover 100 percent of baby well visits or only charge a single copay for all. Medicaid also covers wellness visits.

It's important to note that if you ask your doctor about other health issues during a well visit, you may receive a bill. That's because the insurance covers the basic well visit, but if it's coded with any other issues, you'll be charged according to your plan's sick visit rate.

What if your baby has a chronic condition?

If your child has a health condition and requires more doctor visits, medications, or surgeries, you'll be charged for these visits at your deductible or by copay amount.

There's also help available if you don't have the funds to cover your baby's healthcare costs. You might consider asking your doctor or hospital for resources or check out the following organizations:

Delivery costs vary depending on where you live.

For example, giving birth in a hospital without insurance costs approximately $8,300 in Arkansas but this amount may be closer to $20,000 in New York state, according to an article in The American Journal of Managed Care. The average cost for a person with employer-sponsored healthcare is $13,811.

Of that amount, you might pay between $1,000 to $2,500 out of pocket if you have insurance. Higher cost delivery is associated with cesarean delivery. Of course, there are also other factors, like provider type (doctor versus midwife) and location (hospital, birthing center, home setting).

A home birth on its own is virtually free. However, it's a good idea to hire a midwife.

It may cost anywhere between $1,500 to $5,000, and this cost is usually not covered by any type of health insurance.

Keep in mind that even if you plan a home birth, there's always a chance that emergencies may require you to go to a hospital, and pay all the associated costs.

If you'd like an alternative to a hospital birth that isn't in your living room, a birthing center may fit the bill. Here, you'll be encouraged to birth without intervention and may even go home within hours of delivery.

The cost is generally somewhere between the cost of a home birth and hospital birth. If you have insurance, it may be covered.

What about other ways of making a family?

Adoption, in vitro fertilization (IVF), and surrogacy are other options for making a family, but they involve some pretty hefty costs. A single cycle of IVF can cost anywhere between $4,900 and $30,000 depending on:

whether you use your own eggs or sperm or donor

what state you live in

certain testing you opt to add

The national average is around $20,000, but keep in mind it may take more than one cycle to achieve pregnancy.

Private adoption fees may run somewhere between $20,000 and $45,000, according to the Child Welfare International Gateway, and don't include additional costs like travel. Public adoption (through the foster care system) is low cost, and you may even be eligible for certain one-time and recurring government subsidies to help.

Surrogacy costs include the cost of IVF plus medical care and pregnancy-related expenses for the gestational carrier. This is the person who agrees to carry and deliver your baby.

Depending on the arrangement and whether or not you use an agency, you may expect to pay anywhere from $90,000 to $130,000 or more.

The most expensive aspects of the first year include prenatal care, delivery costs, and child care. So, start with these areas to work up rough estimates of your total anticipated costs.

If you have health insurance, call your insurance company to ask for any out-of-pocket amounts you should plan for. Meet with nannies or day cares to find out their monthly costs and any other fees.

Think of these types of costs as your fixed expenses, the ones that don't have wiggle room. Then, you figure out the rest. Things like gear, toys, clothes, and food can be found at a number of price points to meet your budget needs.

Ask your friends or family if they have gently used baby clothing, gear, toys, or other essentials you can borrow or purchase for low cost. You may soon find yourself swimming in hand-me-downs with very little extra needed to buy on your own.

Resist buying lots of flashy toys or other extraneous items. Babies grow quickly and may outgrow certain items before you use it much, if at all. If you have your eyes on something particularly special, consider adding it to your registry for a baby shower or saving up for it over the course of your pregnancy.

Identify your wants versus needs. Again, your needs will be different than somebody else's. But you'll definitely need somewhere for your baby to sleep, something and somewhere for your baby to eat, basic clothing, and a car seat. Beyond these items, it's up to you.

Consider asking for cash if someone offers to send you a gift for the baby. You don't always know what items you'll need ahead of time. Instead of asking for random items on your registry, consider asking for gift cards or even cash to cover your essentials as you discover them down the line.

Get organized about your budget by creating an Excel spreadsheet with all your anticipated expenses so you can see them in black and white.

Apply for help. There are various programs to help with nutrition and other needs of low-income families and babies. WIC is a nutritional program that provides supplemental foods and nutrition information to qualified families with children up to age 5.

What about diapers? WIC and other programs, like the Supplemental Nutrition Assistance Program (SNAP), do not cover diapers. The National Diaper Bank Network can help and has over 200 diaper banks across the United States.

In the end, what having a baby costs your best friend or sister may be entirely different from how much it costs you and your family.

Have a frank discussion with your partner about your needs, wants, and any concerns you may have about paying for those wants and needs.

All that money talk can feel stressful, but you'll be thankful you covered your bases and hopefully won't encounter too many big surprises after your little one is born.

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Budgeting for Baby's First Year: Diapers, Childcare, Gear & More

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There are many unknowns to raising a baby, but how much you can expect to spend shouldn't be one of them. Learn what to expect plus budgeting tips.

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(VIDEO 3) Where To Look For The Best Quality Stuff At The Lowest Price

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(VIDEO 3) Where To Look For The Best Quality Stuff At The Lowest Price

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Every mother knows what a baby shower is. Every mother should know what a registry is, the list that the mother makes to provide others with information about what the coming baby needs. they help a lot. You can make a registry on a piece of paper, or on a site like "Babylist" - a site designed from the bottom up to create registries for mothers that put together some of the highest quality items, when they are on sale, and gets you the cheapest deals possible for your registry.

I chose this video because it showcases many valuable sites for making an affordable and quality ensured registry that will hook you and your baby up with the best toys, clothes, equipment, and travelling items. Many mothers make the mistake of creating a registry for their baby shower without using online tools that are designed to knock down the costs of the items in demand. Babylist stood out to me as the most important piece of information found in this video as it is a really good saving tool for expecting mothers.

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BEST BABY REGISTRY SITES 2021 & How To Get FREE BABY STUFF From Them  | Where To Register For Baby

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(WEBSITE 4) Programs That Can Help You Financially With Your Child

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(WEBSITE 4) Programs That Can Help You Financially With Your Child

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The government and other charitable organizations have created many various programs and financial benefits packages that support expecting and financially struggling young parents in being able to get their footing and support their child with money given to them through taxpaying. Some programs help you financially, while some others provide you with food, clothes and other materials that are often expensive, yet necessary for a child's survival.

I chose this website because it is highly informative as to which financial programs people can benefit from given their individual situation. I have personally used this exact page provided by The Government of Canada to find out which taxpaid programs I may apply to for support of my unborn daughter. I find it very interesting that this site shows all of the benefits out and open to the public where usually this stuff is quite difficult to access. I learned that maternal/paternal benefits are different from the Canada child benefit plan.

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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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Here are some good quick and simple tips that may save you financially when you are going through the struggles of becoming a parent. This video gets straight to the point in highlighting certain actions you could take that can lead to a less stressful and happier life for both you and your child.

I chose this video because it highlights ideas that many other videos and sites online do not - for example, having an emergency fund. This can be a bit of money that you put into a high interest savings account that you let sit and grow as a fund you can pull from in the case of a financial emergency with your child. Having this can possibly be the reason you and your child survive in dire financial circumstances.

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(INTRODUCTION) So You Want To Become A Parent... Get Ready For It Now!

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(INTRODUCTION) So You Want To Become A Parent... Get Ready For It Now!

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Being an adult is stressful for an assortment of reasons - daunting financial responsibilities being one of the biggest things leading to stress. Parenting comes with a massive financial barrier that is often hard to penetrate - how can one afford food, formula, clothes (that the baby will grow out of every few weeks), toys, diapers... and still pay for rent, insurance, etc.? Truly, how can you do it? Let me show you how expensive parenting is, how the modern economy is affecting it, and how you can push through that financial barrier by saving money where it matters. In chronological order, we can take a look at the stressors, barriers, aid programs, financial tactics, and a decisions that could save your life.

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Q1. What did you learn about your topic that surprised you the most?

A1. I learned about Babylist: a program designed to help you create a =n affordable and accessible registry for upcoming baby showers. This program helped me and my partner get our family and friends to save over $2000 worth of baby stuff all due to the programs ability to find local deals and apply them to your registry.

Q2. Provide a real-life example of how this topic is relevant or interesting for you.

A2. This topic is fully relevant to my current situation... I am going to be a father in 2 months and this research was essential to helping me and my partner get through this financially stressful time together. I learned how to be a better saver, I learned to keep my money in high interest accounts, and I learned how to be a better partner by financially supporting my girlfriend.

Q3. 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?

A3. I believe the most vital piece of information I have learned from this project that would value others the most is the budgeting aspect of being a parent. If you do not spend your money wisely (example: spending on junk food, media, and alcohol), when you need money for a wise decision (example: like buying a new crib because the one your friend gave you is outdated and unsafe), you will not have enough. Budgeting was a major theme in the very beginning of this course's material that really struck home and taught me many financial lessons and also exposed me to how poor my spending habits were. I think the realization of "oh wow, I spend too much on ______" can really act as an eye opener for anyone who cares about strengthening their financial wellness and stability, even if they aren't an expecting parent.