Photo: iStockphoto
A version of this article was originally published on moneysense.ca
When Jacqueline Misshula went on maternity leave last September, the Toronto-based human resources manager had the typical concerns of most first-time parents. Could she handle the constant feedings, non-stop diaper changes, serious lack of shut-eye?and would there be enough money"
This financial worry is hardly trivial. By our own previous estimates at MoneySense, raising a child in Canada will set you back a whopping $243,660, or more than $12,825 a year, if you include everything from toddler-friendly Goldfish crackers to swishy shoes for high school graduation. But it?s that first year, when parents are juggling big-ticket baby expenses with slashed parental leave income, that creates a perfect storm for anxiety and debt. ?It?s definitely challenging,? says Misshula, now more than halfway through her leave. ?We?ve had to make changes to our lifestyle in order to be able to still live in the city and maintain some normalcy.?
As Misshula herself has learned, there are indeed tips, tricks and hacks that can help new parents and parents-to-be survive the cash crunch of the first 12 months. From getting the most out of government and company benefits, to learning how to budget for a stroller, here?s everything you need to know to get through that first blurry-eyed year without breaking the bank.
1. Get EI sorted

Canadian parents are permitted up to 52 weeks off work to feed, care fo...