New parents often face one of the most financially strained phases of adulthood, with rising expenses arriving before they reach their peak earning years.

Just after her daughter’s first birthday, Alyssa Davies bought her first house – a double whammy of major life changes that left her reeling. New parenthood and homeownership each come with their own financial curveballs, but facing both at once? That was a crash course nobody warned her about.

“I remember feeling almost stunned. There was this sense of, ‘How is this my home? How is this my child?’,” says Davies, now 35, who lives in Calgary. “It reminded me of the day you’re sent home from the hospital, where you’re holding your baby thinking, ‘Are you sure I’m ready for this?’ That same shock hit me when we got the house keys. Sudden

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