October 31, 2011
Babies are Expensive
Are you planning to expand your family in the near future? Anticipating these expenses can help you prepare for your new arrival.
If you're starting a family soon–congratulations. But be aware: Having a baby is an expensive proposition. Here are a few things to keep in mind:
Babies need a ton of stuff: car seat, crib, bedding, stroller, diapers, formula, clothing–the list goes on. Talk to experienced parents and seek out hand-me-downs. Research your employer's policies on parental leave. Understand how much time you can take off and for how much of it you will be paid.
Find out what is and isn't covered by your health insurance for the delivery. While you're at it, ask how much it will cost to add a dependent to your coverage.
Bottom line: Babies are a pleasure, but they don't come cheap. Make sure you're aware of the costs before your bundle of joy arrives.
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- Navigating Marriage's Financial Minefields
- When Does Home Remodeling Make Financial Sense?
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