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

1. Discover how much it costs to raise a child — necessities, luxuries, and all.
2. Find out what it means to be financially ready to have a family.
3. 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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