26 May 2011

Study details what costs to raise a family in Canada

Canadians who have had children or who are planning on raising a family may have asked themselves the question: “How much do children cost?” MoneySense magazine believes it has the answer.

According to the personal finance and lifestyle magazine, the average cost Canadian moms and dads spend on their children is a whopping $243,660. And that’s excluding expenses for college or university tuition fees.

MoneySense based its analysis on parents of two children and their spending for things such as food, clothing, health insurance, school, transportation, and recreational activities. The estimated number of years of expenditure was 18, as that’s generally the amount of time parents are financially responsible for their children.

The study also detailed what stages of life kids were the most affordable and expensive. For example, children generally cost less as they grow older, particularly in the way of clothing. But that wasn’t the case for food costs, as the study found parents pay $2,400 in grocery bills annually for teens compared to $895 for babies.

One thing that won’t cost parents an arm and a leg is renting a Toronto storage unit. Whether its used to house toys kids don’t want anymore or empty nesters storing their kids’ old furniture, Jiffy Self Storage can handle it all.

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Hammad Assan joined Jiffy Self-Storage in June 2012. He has over 20 years of experience in various Customer service, Sales and Management roles and is a Certified Self-Storage Operator through the Canadian Self Storage Association. His passion for sales and customer service has maintained Jiffy Self-Storage’s position as one of the GTA’s most successful Storage Facilities, as recognized by winning the Consumer Choice Award 22 years in a row, a perfect A+ rating with the BBB with zero complaints and a 4.5/5 Star Review rating on Google. Our tenants greatly appreciate his dedication to exceptional customer service and as a result Jiffy Self-Storage has been recognized and awarded for that. Please contact Hammad about any of your storage, parking, workspace or retail unit needs.

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