How much money are you saving?

Question

This is my first baby, how much money does a baby “require” set aside in Canada... it definitely varies but I just want to know for the future

Answer

I’m in Canada, and didn’t set aside anything. Of course we had to adjust our spending a bit, as my mat leave pay was quite a bit less. 
We cloth diapered, so we had all the diapers before the baby was born. I was also lucky enough to exclusively breastfeed. So aside from the car seat, crib, and diapers there were no other “big” expenses. 
I always joke that a baby isn’t expensive it’s the toddler who eats like a garbage disposal, their sports/activities, daycare etc haha

Answer

Not sure what you’re asking specifically but I am in the US and spent 5K on all my baby stuff, the medical part was only $300 including the NICU stay. I am pregnant with my second and literally only need another carseat 😂. I am a sahm and financially don’t have to worry about the loss of my old income (we don’t have debt).

Answer

I’m in Canada too and I had saved around $15,000 by the start of my maternity leave. But I didn’t touch it at all until around 5 or 6 months and that was only because I started wanting to get out more and do more fun things (and finally buy new clothes!). I still had savings left when I went back to work. 
It’s definitely possible to live on maternity leave pay, as long your fixed expenses aren’t too high. In terms of what you actually need to have for baby once he or she arrives, it’s not much. You need to be able to purchase diapers and wipes (or invest in reusable supplies) and you will need the basic baby gear, clothing, and supplies. You need to be able to put food on the table to feed yourself and baby, which might mean formula, and eventually baby foods. Other than that stuff, you aren’t require to have anything specific saved. 
We are so lucky in Canada that the cost of child birth is covered.I know people in the US who had to remortgage their house, so they could use the equity to cover hospital bills when their insurance fell through. Crazy.

Answer

I didn’t save anything for either of my pregnancies 😳 thankfully in Canada healthcare is free.. Sorry this doesn’t help

Answer

In the UK you don't have to pay anything. So no saving for that.
I believe it's the same in Canada?. :).

How much money are you saving?

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