Starting a Family

Budgeting for Baby

Whether you are planning to get pregnant or already are, it is important to recognize the added expenses that come with expanding your family. Modify your current budget to include new costs of taking care of your baby, such as diapers and formula.

Opening an Account for Baby

Now that you are a parent, it's necessary to start planning ahead for your child's future. While you may be most concerned with providing for your baby's current needs, it won't be long before your child is going to daycare, music lessons, sports or summer camp. Opening an account for your child is a great way to begin saving for these new expenses.

Saving for Baby's Future

It's never too early to start saving for your child's post-secondary education. A Registered Education Savings Plan is an excellent way to maximize your savings. The Canada Education Savings Grant and the Universal Child Care Benefit can be combined to build substantial education savings for your baby's future.