Here Comes Baby.
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Here Comes Baby.
  • Save
    You will be spending much more than you expect, so start setting aside as much as you can into your Savings Account as quickly as possible -- $100 a month for diapers and wipes alone adds up pretty quick!
  • Insurance
    Know what your medical insurance will cover by asking in advance. Also, find out what your deductible and co-payments might be.
  • Budget
    If you have a household budget, revise it. If you don't have one, it's time to start building it, and make sure it includes one-time expenses, such as a car seat, crib, stroller & diaper bag, as well as ongoing charges for things like diapers, formula, clothing, and medical bills.
  • Bargin Shop
    Look for little things you can do to save cash: buy slightly used baby products online, visit consignment stores, and talk with friends and family about hand-me-downs.
  • Cut Debt
    Get rid of your debt. Pay off as much of your outstanding balances as possible, which will free up room in your budget for those extra expenses.
  • Multiple Incomes?
    Determine how many incomes you will need. Will one of you stay home full-time? Can you afford not to work? How much is child care? These are questions that must be asked, considered, and answered.
  • Tax Break
    One financial advantage is that you will gain a dependency exemption for your taxes.
  • Be Prepared
    When it comes to having a child, be smart and ready. Know that this will change not only your life, but your lifestyle.
  • Good News
    The wonderful thing is, you have nine months to prepare ... and the payoff is like nothing you have ever imagined!
*Source: U.S. Department of Agriculture
Your First Baby
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Heidi E
Posted 11:24 am o 04/20/2010
In today's world it is very hard to live on one income alone. PREPARE NOW! If you plan on having kids in the near future, SAVE, SAVE, SAVE!!! Get a good nest egg going and pay off car loans, student loans... etc. Get yourself prepared to live on one income if you or your spouse plan on being a stay-at-home parent.
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