The birds and the bees didn’t do it

baby

Well remember that saying about the bird’s and the bee’s regarding sex? Well it ain’t true! We had our son 4.5 years ago and at the time thought we would wait a bit between kids. About 2.5 years ago we started “trying” again. I thought yeah no problem we will pop one out right away like we did the first time around. This time was different it has taken us this long and 2 miscarriages to finally be able to say, we are expecting #2. Woot! Woot!

My wife is currently around 4 months pregnant and looking fantastic. I tell ya after I had my first kid, I find pregnant women absolutely gorgeous. The glow, the thought that they are bringing another kid to the world and of course the bigger bust =) We definitely would of liked our kids to be aged closer but all the trying was fun.

Right now we don’t know of the sex of the baby but will find out in the middle of August. I’m definitely hoping for a girl now that I got a son. I dunno I think a sweet tea party would be a great time. haha Of course this will change if shes older. I see some 13 year old girls wearing belly tops, I think I would be that dad who freaks out – you ain’t wearing that out. So if we had another boy I don’t need to worry about that.

Finances

So far I have not found my son to cost a lot of money like you hear people say. We are lucky and my wife’s aunt watches our son each weekday while we work for 25$ a day. He plays soccer and does swimming lessons but to keep it easy for us, we don’t let these overlap. It’s one thing until the other is done. I think soccer and swimming lessons are like 150$ for 2-3 months once a week. Most of his clothes are hand me downs from his older cousins and we buy the odd shirt etc. Right now he doesn’t care about brands so obviously that is cheaper. He prefers a minion shirt over a nike shirt – obviously that will change.

In September he will be starting school and will be attending after school daycare which will drop the cost to 15$ a day. While this sounds good, we were on a waiting list and luckily got this slot. When she is on mat leave he will probably be staying in this vs my wife just getting him after school to guarantee his spot when she returns to work.

baby

Our house storage area’s are currently full of baby toys, cribs, clothes, etc etc. I’m definitely looking forward to clearing that stuff out. Of course it will be nice though since there won’t be much to buy with the new baby. Oh to be the 2nd kid, full of hand me downs. I was the 2nd kid growing up……….

Mat Leave

Recently the government of Ontario changed the Mat Leave rules. You have the option of 12 month’s of mat leave or 18. But you will only receive 55% of your salary total. Either divided by 12 months or 18 months. We both have agreed for her to take the 12 month option. This will clearly dampen our financial situation next year, it will be doable but there probably wont be as much free cash flow for investing.



Baby Bonus

Free Money! The government will give you money monthly to help with the finances of raising your kid. We currently receive $150 per month for our son. This is definitely on the low end since we both work and our incomes total are above average….. I know people who’s wives stay at home and don’t work and bring in 460$ per kid. Guess that’s the system though…… Penalize the people generating money for the system and give to the ones who choose to not work…. Ahhh that’s a whole different conversation! So with another kid I guess we will receive $300 per month. Free money is free money, can’t complain there.

Registered Education Saving Program

In Canada the government will match your savings inside a RESP for your kids college/university savings by 20% to a max of $500 per kid a year. ie you deposit $2500 to your kids resp the govt will throw in $500 per year for future schooling. We have been maxing our son’s resp out every year as it’s too good to pass up. With a new little one we will have to toss in $5000 per year to max out the governments offer. This will definitely be harder since it will average $410 a month now.

Anyways we are super excited to welcome the newest member of our family. Like when we bought a new house, had our first kid etc etc. I analyze the numbers way ahead of time, sometimes I worry or wonder what will happen financially.

baby

This time Hakuna Matata – It mean’s no worries!

You may also like...

10 Responses

  1. Congrats on the pregnancy and awaiting your second child! I hear second kids are interesting because now you are on an even playing field number wise. Even though you still have the upper hand being the adults. I’m sure if you ever get outnumbered with three, that will be quite an experience. Smart of you to start saving for their school right now as well. That will come in handy.
    Dividend Daze recently posted…The Impact of Rising Interest Rates on FinancesMy Profile

  2. Congratulations! I look forward to reading about how another baby will changes things up.

    FYI, my husband receives a small income (1/2 RRSP and 1/2 Company Dividends) and I am a homemaker (with a passive income salary similar to my husbands) and we get around $200 a child per month (we have 2). No complaints either.
    Sarah De Diego recently posted…10 Things to Consider When Buying a Car Booster for Your ChildMy Profile

  3. Leo T. Ly says:

    Congrats with the expectations of baby number two. Life will definitely change a lot once you compare to having just one kid.

    When you open the RESP account, did you open a family account? I find that a family account with both of my kids as benefitiaries is much more convenient than individual accounts.

    Enjoy the fun time.
    Leo T. Ly recently posted…Achieving Financial IndependenceMy Profile

  4. PCI, congratulations on the pregnancy. Sounds like exciting times. It’s nice that your son is going to have a sibling, regardless of gender. Also, it seems like Canada has some nice government programs. But, definitely, best wishes to you and your family.
    Dividend Portfolio recently posted…Bad NewsMy Profile

  5. Eloisa says:

    Congratulations on baby #2. I have a 5-year-old daughter, and my husband is in love with her. Can’t wait til your next post if you will share what is baby #2’s gender. BTW, you might want to check this article https://www.ecomtuning.com/2017/06/20/unconventional-guide-seo-services-small-business/ on how SEO can help your business.

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge

%d bloggers like this: