The Question and Costs Of Becoming A Parent

08/09/23 • 43 min

The decision to become a parent is a big one, and it's important to consider all the factors involved, including the financial ones. Raising a child can be expensive, from education, food, and clothing to surprise costs such as hidden expenses and paying for daycare. There is also social pressure to have children — especially on women — but ultimately, the choice is yours.

We dive into the two sides of the big choice: choosing to have children vs choosing not to. Joining us on the Half-Banked Podcast is Barry Choi, father and financial expert. He talks about the realities of being a parent and the financial impact of having children. Our second guest is Therese Shechter, filmmaker and producer of a documentary about the taboo of choosing to be child-free. She shares how finances can impact this big decision and what it means to choose not to have children in today’s world.

From the child tax credit to dealing with the cost of daycare, listen to Barry and Therese to better understand the financial aspect of having children.
Three reasons to listen to this episode

Discover how much it costs to raise a child — necessities, luxuries, and all.
Find out what it means to be financially ready to have a family.
Understand how financial planning and goals can impact your decision to have children.

Resources

Check out Money.ca for more answers to your personal finance questions.
Barry Choi's personal finance site MoneyWeHave.com
My So-Called Selfish Life documentary by Therese Shechter

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Have any questions? If there’s a topic you’d like us to cover, send us an email at [email protected]!

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From the child tax credit to dealing with the cost of daycare, listen to Barry and Therese to better understand the financial aspect of having children.
Three reasons to listen to this episode

Discover how much it costs to raise a child — necessities, luxuries, and all.
Find out what it means to be financially ready to have a family.
Understand how financial planning and goals can impact your decision to have children.

Resources

Check out Money.ca for more answers to your personal finance questions.
Barry Choi's personal finance site MoneyWeHave.com
My So-Called Selfish Life documentary by Therese Shechter

Enjoyed this Episode?

If you did, subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review.

Have any questions? If there’s a topic you’d like us to cover, send us an email at [email protected]!

Previous Episode

Do Young Investors Really Have to Risk It for the Biscuit?

Investing is a powerful tool that can help you grow your wealth and achieve financial goals. It can provide opportunities for your money to work for you. However, it’s not as simple as putting money into the market. It’s important to educate yourself about the world of investments and understand your own financial goals and mindset. As a young investor, now is the best time for you to start learning and investing.

In this episode, we welcome Parween Mander, founder of WealthyWolfe.ca, to the Half Banked Podcast to share her insights on starting your investing journey. As an accredited financial counsellor, she helps us understand the world of finances and investments from the lens of women with immigrant upbringings. We dive into understanding risk tolerance, investing methods and the importance of education about investments.

Join us in this episode to find out how to start your journey as a young investor.

Here are three reasons why you should listen to this episode:

Understand the investing journey through the lens of young investors, women, and people with an immigrant upbringing.
Learn about risk tolerance and other must-know information about the world of investing.
Overcome your fear and uncertainty by building your confidence as a young investor!

Resources

Live a richer life today with Money.Ca
Visit Wealthy Wolfe, founded by Parween Mander

Answer your money questions on money.ca

Enjoyed this Episode?

If you did, subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review.

Have any questions? If there’s a topic you’d like us to cover, send us an email at [email protected]!

Half Banked - The Question and Costs Of Becoming A Parent

Transcript

Barry Choi: I didn't have a lot of stuff growing up, but what I did have is parents that loved me in a safe home that I could go to and I never felt any fear. Those two things alone, well, pretty much get most kids where they need to be at if you think about it.

All these extra things are extra. Yeah, I admit I had a Nintendo when I was a kid. It was fantastic. But I will just say that, you know, you have these things and they’re really nice, but you think about how hard our parents wo