Home » General » Baby Blog: Months 1-4 – Part II

Part I can be accessed here.

Westley was born January 8th at 1:35pm..

In this, the second installment of a four part baby blog series, I will be reporting on the first four months after birth.

In the first four months we have learnt a great many things when it comes to rearing a child. The most important lesson I feel that we have come across is creating and sticking to a schedule. A basic plan for how the baby’s day will play out helps immensely.

This post will be divided into two parts:

  1. Building Wes’ financial future.
  2. The costs incurred raising a newborn baby.

Part 1: Building Wes’ Financial Future

RESP / Education Fund

Before having a child I knew that providing a solid financial base for his educational fund was a clear must have. I have seen many families scramble last minute to put the funds together to send their children to College/University. Starting to save now not only provides my son with peace of mind, but will take a lot of the weight off my shoulders when he is ready to leave the nest and begin his journey in the higher educational system.

My wife and I met with a financial advisor from a local firm to establish Westley’s educational fund. We chose a product that fulfills the roll of a RESP, but allows a bit more flexibility. The product we went with is the Fidelity ClearPath 2035 Portfolio.

Bank Account

We have opened a basic bank account through Tangerine for its no fees and easy access. This will allow us to deposit any monetary gifts from Uncle Ryan and his grandparents. In addition, we will receive the Universal Child Benefit; the government provides all families with $160 a month per child, up to the age of six.

I do plan to open a chequing account at TD Canada Trust for the sake of using their Direct Investing discount brokerage account since I am comfortable with their system.

I believe we will keep the accounts for our son as joint ‘family’ accounts. Giving a young adult an account with 30 or 40 thousand dollars could be a very dangerous venture. It is more for his financial education (self-taught), and an early start for his retirement fund.

Retaining control over the bank account for our child just makes sense. Until we know he is capable of handling his own financial affairs, we can’t in good faith give him a large sum of money.

Part 2: Costs of a Newborn

Here are the costs we have incurred since bringing our first child home from the hospital. Please note these costs reflect our family’s needs/wants. Each family will realize varying actual amounts.

Months 1 to 4 Costs

  • Newborn pictures – $40: Having pictures taken of our newborn was important to my wife. We are so happy we took the photos to remember how tiny he was at birth. After shopping around, we decided to go with an amateur photographer who is building a portfolio versus spending +$100 on photos.
  • Baby wipes – $84: One box at Costco was $21 and we have bought one box per month.
  • Diapers – $150: We have gone from Newborn to Size 2. Don’t buy too many in one size as we’ve quickly learned babies grow quite rapidly!
  • Vaseline tubes – $40: Strongly recommended for the recovery phase of the circumcision. Use excessively for best results.
  • Tylenol liquid dropper – $8.
  • Toys – $95: Mostly Star Wars Lego. I am stocking up for when he’s ready to play with the fun stuff.
  • Jolly Jumper – $75.
  • Clothing – $30: We were fortunate to get most of his clothes at my wife’s baby shower. However, we’ve had to pick up a few things here and there. Helpful hint: scrap the cute pants and shirt looks for sleepers with a zipper; they are so much easier for diaper changes!
  • Balloons filled with helium – $6: We attached them to his legs / arms for game time and to help him discover his limbs, fun activity.
  • Nursing bras – $160: Four at $40 each.
  • Nipple shields – $30.
  • Summer Infant Slumber Buddies Bumblebee night light – $29: Very cool, projects stars/planets onto the ceiling and plays bed time music.
  • Baby required driving, fuel costs – $75.

Hospital Costs/Fees (Canadian)

  • Parking – $55.
  • Circumcision – $300: I helped hold Westley in place while the procedure was performed. It was much easier than I had expected. The seemingly most painful part being the freezing needles.
  • Doctor examinations – Free.
  • Physiotherapy – Free.
  • Hearing tests – Free.

The total costs of the first four months have amounted to $1,177.00.

The Pre-birth costs amounted to $4,070.00 giving us a combined current total of $5,247.00 CAD.

Looking forward to the next four months I am expecting much of the same costs and fees as the first four. There might be a slight rise in expenses when we begin to introduce solid/puree food as we would like to go organic and make our own food. Overall, I am looking for things to level out.

Thank you for reading.


How did your costs stack up against these with a newborn?

3 thoughts on “Baby Blog: Months 1-4 – Part II

  1. DivHut says:

    Thanks for sharing some real world figures for your newborn. For our baby we were blessed to receive tons of hand me downs. Between family and friends there have been 8 babies born in less than 24 months which means no shortage of baby clothes for us, baby tubs, bassinets, swings and more. This has been a big cost savings for us. The only thing Mrs. DivHut insisted on being brand new was a car seat. Everything else has been a hand me down. Like you we plan to start a dividend investing account for baby DivHut. Looks like sometime in May we’ll make his first purchases in a custodial account. Thanks for sharing. These posts are more meaningful every since I have my own son.
    DivHut recently posted…Recent Stock Purchase – April 2015My Profile

    1. Thanks for stopping in, DH,

      Baby showers and hand-me-downs are great ways to get everything you need for raising a child without having it take on an exorbitant cost. There’s no question having a little one in the family changes our perspective about how we see the world; whether it is posts such as this one or pictures of others and their loved ones… the world gets just that much brighter.

      – Rick

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