Raising a child is one of the most rewarding experiences life has to offer. But the cost may be higher than you realize.
作为生育的代价 继续飙升, you may be wondering how you will pay for it all. Here are the steps you should start taking to get your finances in order before your bundle of joy arrives.
调整每月预算
当你的小宝贝到来, you’ll need to spring for baby gear, 家具, 新衣柜, 尿布和儿童护理. Some mothers are unable to breastfeed even if they plan to, and that can cost a lot! Formula feeding can set you back $900 to $3,000 over the first 12 months.
Since many of these expenses are ongoing, it’s wise to make room in your budget before the baby is due. Review your monthly budget and look for ways to cut back. You may be surprised to discover how much 每月订阅 和其他 昂贵的习惯 真正影响你的财务状况.
大多数家庭从 $12,350 to $13,900 on child-related expenses before their baby’s first birthday. From nursery 家具 to travel essentials, you'll need to make room in your budget for an entire catalog of child rearing products. Taking out a small personal loan to cover baby expenses can help make parenting more financially manageable.
创建一个婴儿注册表
Just like a wedding registry is used to gift newlyweds things they need for married life, a baby registry helps parents-to-be gather essentials for their little bundle of joy. Having a newborn is hard, so there's no shame in asking people to help make it easier for you.
When it comes to creating a baby registry, be mindful of other people's budgets. Include a wide-range of prices for items you'll actually need. Requesting luxe items from people who don't have luxe budgets will be disappointing for everyone.
Here are some baby registry sites that offer enticing perks:
Set up a savings account for your child
Since your recurring expenses won't magically disappear when your pregnancy test comes back positive, saving up for a kid can feel overwhelming when stacked on top of all your other financial obligations. Make it more manageable by opening a separate savings account for your baby.
开放 多个帐户 is free and won't hurt your credit score. You can automate these savings by setting up a monthly transfer from your paycheck or checking account to your “baby account.”
Estimate prenatal care and delivery costs
While exact amounts vary by state and by insurance provider, prenatal care and delivery can cost thousands of dollars. This includes out-of-pocket expenses, co-pays and insurance deductibles. Prepare for these expenses by saving up or allocating a large windfall, like your tax refund or work bonus, toward prenatal care and delivery.
开始为上大学存钱
Take it from older generations: kids grow up fast. It's never too early to start considering how you'll put your children through college.
与 大学学费 现在平均41美元,私立大学411人, $11,171 for state residents at public colleges and $26,州外学生809美元, you should start planning 现在 for the small fortune that awaits. Putting money aside for college while your kids are young will give your savings a better chance to grow, 多亏了复利.
继续为退休储蓄
While it may seem reasonable to cut monthly savings or to lower your 401k contribution when your family is strapped for cash, it's important to stay the course with your retirement goals. 总有一天你会变老变白. 你是怎么准备的 现在 will determine if you become a financial burden for your kid when that time comes.
立遗嘱
听起来很病态, but preparing your will — and purchasing life insurance — is invaluable for your children if the unthinkable happens.
Welcoming a new baby into the world will mean big changes for your finances, but that's not necessarily a bad thing. 与 a little focused preparation you can rest easy k现在ing you're financially prepared for your baby’s arrival.
If you have a big expense looming in the horizon, a personal loan can help you cover the cost. 与 no fees and competitive interest rates, you'll save thousands of dollars and reach your goals faster.
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