Am I rich enough to have a baby? The biggest stressor isn’t supplies but loss of income - National Post

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Copy URL Facebook Linked In X (Twitter) Loading account options Sign In Manage Account Close account menu Sign Out There can be unpredictability around the costs of having a child. Beyond diapers, formula and strollers, prospective and new parents may face higher-than-expected fertility treatment costs, reduced income during parental leave and complications securing child care. (Philippe Huguen/AFP via Getty Images) By Leah Golob, Special to National Post October 31, 2026 at 6:30 a.m. Last Updated: October 31, 2026 at 8:25 a.m. Bria Weaver has always been a big saver, so when she and her husband decided to have a baby, she felt financially ready.

Infertility, however, shook her confidence.

The Stoney Creek, Ont., couple spent about $10,000 on intrauterine insemination (IUI), medications and supplements before turning to in vitro fertilization (IVF), with financial support from Weaver’s parents, who offered to help cover the costs. Even with one publicly funded IVF cycle, their fertility expenses rose to about $50,000, including naturopathy and acupuncture.

The 39-year-old freelance public relations consultant also took on fewer clients so she could make her fertility appointments and manage the hour-long commute to the clinic.

“We became consumed financially by just wanting to have a baby,” she said.

The most recent Statistics Canada data pegs the average cost of raising a child for a two-parent, middle-income family with two children at $17,235 per year. But since that study was published in 2023, capturing data from 2014 to 2017, those expenses have likely climbed much higher.

And, as Weaver’s experience shows, there can be unpredictability around the costs of raising a child. Beyond the prices of diapers, formula and strollers, prospective and new parents may face higher-than-expected fertility treatment costs, reduced income during parental leave and complications securing child care.

According to the World Health Organization, one in six people around the world experience infertility.

For prospective parents, fertility treatments can potentially cost $5,000 to $20,000 and up, depending on the circumstances, said Jackie Hanson, co-founder and CEO of Sprout Family, a digital health platform for fertility and family-building.

In Ontario, eligible patients can receive one publicly funded IVF cycle, but there are still out-of-pocket expenses like medication, which can cost $4,000 to $6,000, as well as storage and genetic testing, she said. Privately funded options can total $20,000 to $25,000 per cycle.

While many people want children, they also feel they need to find a certain level of financial stability first, Hanson said. So, some people will delay kids and potentially increase their need for fertility support later. Single parents by choice and LGBTQ2S+ couples are also increasingly turning to fertility care.

“There’s a completely rational financial argument for waiting,” she added. “But biologically, fertility doesn’t necessarily wait for you to feel financially ready.”

According to Chris Salmans, a financial planner at Sun Life, the biggest financial stressor for new parents isn’t the cost of baby supplies, but rather the loss of income during parental leave.

For example, someone earning $80,000 annually who takes maternity and parental leave, qualifies for the maximum EI maternity and standard parental benefits and does not receive an employer top-up, could see their income drop from roughly $1,540 per week before taxes to about $729 while receiving benefits, Salmans said. That’s a loss of approximately $810 per week before tax.

He recommends families consider government support, such as the Canada Child Benefit (CCB), which starts in month two after the baby is born. Based on an adjusted family net income of $80,000, a family with one child could receive roughly $436 per month in tax-free payments (amounts vary depending on family circumstances and income).

Janine Rogan, CPA, founder of the Wealth Building Academy and author of The Pink Tax, added that women should also consider the long-term financial impact of taking one year to 18 months off work as that can impact earning potential, including missed promotions and retirement savings.

After loss of income, child care is typically the second largest expense. While subsidized daycare does exist, waitlists can be long and sometimes people wind up paying $2,000 and up per month for child care if they can’t access more affordable options.

“That, for a lot of people, can be the size of a mortgage payment, so it can be really substantial,” Rogan said.

It can even throw a wrench in return to work plans.

Since every family’s situation is different, there isn’t a “one-size-fits-all savings target,” Salmans said. But, building a realistic budget before a baby arrives “can help families feel more prepared and confident about managing the transition.”

There are multiple costs parents can’t foresee before having a baby, Rogan added. That’s why she recommends creating an emergency fund that covers three to six months of living expenses.

She also suggests budgeting at least $500 per month for the first three to four months of your baby’s life to adapt to any expenses. That number excludes formula costs, which can be “atrociously expensive for a lot of families that can’t breastfeed.” According to a report published by Ottawa Public Health in late 2025, the average cost of formula is about $189 per month.

Weaver and her husband welcomed their baby boy in January 2025. She estimates her baby-related expenses averaged about $600 a month. And, since she was unable to breastfeed, those costs include formula and more expensive concentrate and ready-to-feed options, which she used for her son’s first three months.

“I always thought it was the big stuff like a stroller, the baby monitor, etc., that would be the most expensive, but it feels like it is all the little things that add up,” Weaver said.

For instance, she was well-prepped with hand-me-downs but discovered her son lived in zipper sleepers, which cost a few hundred dollars over the first few months.

She also had to experiment with bottles and tops to make feeding more comfortable for her son. As a toddler, they’re going through the same thing with sippy cups. “We buy a lot of things second-hand, but it adds up,” she said.

While Weaver would never advise a friend on whether they’re “rich enough” to have a baby, there is one thing she’d tell them: “plan for the unexpected.”

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