Published April 1990
by Shadetree Publishing Inc .
Written in English
|The Physical Object|
|Number of Pages||188|
From maternity (and paternity) leave to flexible spending accounts to college plans, The Wall Street Journal Financial Guidebook for New Parents provides all the information you need to meet your child’s expenses while also protecting your family’s financial security/5(15). Don’t let new parent expenses catch you by surprise. Use this financial checklist for new parents to be ready for baby. Plan insurance, prenatal and delivery costs: A survey of Maryland new parents found an average premium of $ per month for health insurance with a $4, deductible and 30% out-of-pocket costs. Build a baby budget. A NerdWallet study found that in the first year alone, the cost of raising a baby can run upward of $21,, and the cost of raising a child to adulthood dwarfs that. But while y our expenses will both change when you have a child, your budgeting approach doesn’t have to. As a rule of thumb, most financial experts recommend keeping three to six months’ worth of essential living expenses readily available for emergencies. Tip #3: Take advantage of tax breaks. For many working parents, child care can be as expensive as a second car payment or mortgage. Fortunately, tax breaks can help.
Last month you set a new budget; now you may be tempted to put it on hold and enjoy the good life until the baby comes. That would be a mistake. "In the second trimester, you need to make sure you Author: Becky Batcha. Again, some parents opt to speak to a financial professional about options. There’s nothing like a newborn to melt your heart, or drain your wallet. By planning ahead, however, expectant parents can rest assured that their budget is balanced for their kids and their loved ones are provided for — even if they aren’t getting any actual sleep. Most children, even those as young as two or three years, probably know a few basic things about finance – like how to count to 5 or 10, where money comes from (a bank, mom’s purse, a . A simple financial baby checklist. 1. Plan ahead for maternity or paternity leave. Read over your benefits package to find out how much time you and your partner’s jobs allow for parental leave. If you need to take unpaid leave, factor that into your finances. If needed, begin planning for child : Hanna Horvath.
Your baby's first year will cost: $ Want more information? Check out our finances guide for new parents, and read about surprising expenses you'll face and how to save on the seven biggest baby costs. advertisement | page continues below. All pregnancy, parenting, and birth videos > Get the BabyCenter pregnancy & baby app. ABOUT BABYCENTER. 9 Must-Read Books for Newlyweds on Managing Finances, Marriage, and More My Food and Family this link opens in a new tab; Parents this link 9 Must-Read Books for Newlyweds on Managing Author: Becky Mickel. Small savings add up when it comes to life with a new baby. You have almost 10 months to prepare for your little one's arrival. Just think of all the fun things you need to buy -- a stroller, cute Author: Heather Hatfield. "The smartest thing you can do is sit down before you have your baby and map out a financial plan," says to create a new budget that includes expenses for their baby. new parents say baby.