The Big Story Encore: It costs HOW MUCH to raise a kid in Canada?!?
8 snips
Dec 27, 2024 Chantal Braganza, a Toronto-based writer and editor, dives into the eye-opening costs of raising children in Canada, revealing it can top $293,000 for two kids until age 17. She discusses the financial strain families are facing in the post-pandemic world, including the impacts of inflation and housing costs. The conversation also touches on the challenges of implementing affordable daycare and the implications of Canada’s declining fertility rate, emphasizing the need for supportive policies for prospective parents.
AI Snips
Chapters
Transcript
Episode notes
Declining Fertility Rate in Canada
- Canada's fertility rate is declining and is now the second lowest in the G7.
- This declining rate has been a trend for over 15 years.
Cost of Raising Children
- Raising two children in Canada costs almost $300,000, based on a Statistics Canada report.
- This cost covers expenses from birth to age 17 for a middle-income family.
Top Expenses
- The top expenses when raising children are housing, transportation, and food.
- Having a family expands living costs significantly.