How Much Does It Really Cost to Raise a Child in Canada?
21Having a child is one of the biggest financial decisions you’ll ever make, but just how expensive is it to raise one? Ariana breaks down how much it really costs to raise a child in Canada.
Thankfully, Statistics Canada released a study in 2023 estimating how much Canadian families spend on their children from birth to age 22 between 2014 and 2017.
In this episode of Knowlege Gap, we break down their finds to help make those big life decisions feel a little less overwhelming.
Research referenced in this video:
Survey of Household Spending, 2021, Statistics Canada:
https://www150.statcan.gc.ca/n1/daily-quotidien/231018/dq231018a-eng.pdf
Estimating Expenditures on Children by Families in Canada, 2014 to 2017 by Karen A. Duncan, Kristyn Frank and Anne Guèvremont, Statistics Canada:
https://www.doi.org/10.25318/11f0019m2023007-eng