You and your partner are ready to take that next step in your marriage: having a child. It is certainly something that will bring you much happiness and will be the beginning of a new stage in your family. But have you thought about the change your partner finances will have ?; Now they will have to think about “Family Finance” and many changes will be necessary. That is why we share 10 financial tips to start a family:
How much you will spend
Calculate how much you will spend on making your home safe for the baby. Car seat, cradle cover, plug plugs, etc. Keep these costs in mind and don’t let them catch you off guard.
Include new expenses in your budget: diapers, bottles, wet wipes, detergent; And the list goes on.
Get a membership from a price club. Buying large quantities of certain products will be cheaper in these types of stores than in a common supermarket.
Review your medical expense insurance and expand your coverage. Or hire one if you don’t have one.
If you and your partner work, pay nurseries near your home or work for when mom returns to work.
In this same work, ask how many days the company gives you for maternity or paternity and take full advantage of them.
Check government benefits. There are some government programs that can support you in these financially complicated times.
Update your important accounts: beneficiaries in bank accounts, will and retirement savings fund.
Check your list of long-term goals: a bigger house? Family car instead of sports? School?
Pay your debts
As much as possible, end your debts before the baby is born and do not drag problems. As always, remember that good planning is the first step to healthy finances. Talk with your partner about these 10 points and determine others so that they can receive the new family member without problems that will later make them lose their financial peace of mind.