Ah, pregnancy. You’ve felt a little sick, a lot tired and you are overly emotional, but your period never showed up. You decided to pee on a stick and bam: two lines that tell you your life has just changed forever. Overwhelming, exciting and a complete shock – even when you’re trying! Preparing yourself to be a parent isn’t just about holding up the tiny clothes and cooing over the beautiful colour schemes of the nurseries adorning Pinterest. There are a whole list of money must-do’s that you have to get squared away in the nine months before your new baby makes its dramatic entrance into the world and turns yours completely upside down. Money makes the world go around, and it’s important for you to understand that while you have an exciting time ahead, you don’t have too much time before life gets very demanding. You need to use the nine months of pregnancy that you have ahead of you, to arrange your finances in such a way that your family won’t be out of pocket because of the presence of a new member. This is especially important if you already have children that you need to think about. Pregnancy is included in this, as your pregnancy is going to shock you with how expensive it can be. You’ve got to think about the vitamins that you need, the clothes you’ll have to buy to accommodate your changing body. Some days, you’ll need to pay for childcare if you’re too exhausted to manage. Other days, you’ll need to take a day of work because the morning sickness is just too much to cope with in the office. It’s a beautiful time of life but it’s also one that costs you cash.

There are medical costs to estimate, from the first obstetric appointment to the ultrasounds and even the birth. You need to plan your maternity leave and decide with your partner whether you can afford to take more time off than you would have with the statutory maternity leave that your job gives you. You also need to budget for the little cub coming into your life; babies need a lot of love, but love doesn’t pay for diapers and a crib. You’ll need to see here for insurance help and you’ll need to think about writing a will if you haven’t got one already. You’ll also need to consider if your home is big enough. These practical issues are going to be important to you and your family. There are a lot of things that you’ll learn about parenting along the way, most of which will be real-life situations that you’ll have to manage as you go. For example, you may not currently know that babies have the ability to poop up the back of their diapers, reaching their own neck with their leavings. The thing is, things like that will be learned as you need to learn them, while your money situation isn’t something you can wait to sort out. Tackling certain things from the beginning is just good sense. Nine months when you are pregnant can feel like forever when you’re uncomfortable, but it’s going to be nine months where you have to prepare yourself and trust me when I say that this is going to be the fastest nine months of your life. So, let’s look at the money issues that you need to tackle to keep your pregnancy as smooth as possible.

● Having a baby is going to be expensive despite the health insurance that you have. Forecasting your expected costs early is so important so that you can plan ahead properly with your savings. Making sense of your medical bills from the moment the stick turns positive is going to keep you on an even footing with all your costs and mean that you’re not going to be hit with a bill that you can’t pay. You should also plan for the unexpected costs, such as costs of a c-section if it’s needed for delivery. Estimating your costs for both the birth that you want as well as the birth you don’t is important.

● Planning for your leave from work is going to be exciting, but you need to understand what your income will look like when you do take time away from work for a few months. The fun part about having a baby is the shopping that you need to do for all the things that your baby will need for their nursery. The time that you take off after delivery is going to be impacted by whether you can even afford to take time away from work. Speak to your human resources department at work to understand your maternity and paternity rights and what they can offer you in terms of paid leave. It can help to know this information when it comes to planning your income.

● Babies come with expenses; breast pumps, strollers and baby carriers aren’t always cheap. You can shop smart by buying second hand for a lot of items, but not many parents want to do that with their first pregnancy. Put a limit on the things that you absolutely do not need; novelty items are there to take your cash and rarely get used. Be smart with your baby planning and ask family and friends to gift the new baby gift cards for clothes, saving you money and allowing you to have a choice over what you buy.

● While you’re planning your budget for pre-delivery, think about after the baby gets here, too. You need to consider that there will be times that you won’t want to cook, so you’ll be ordering food in. extra food ordered to accommodate the hunger that comes with breastfeeding will also change your grocery budget forever! Plan ahead so that you aren’t caught out with your expenses later on.

● Start interviewing pediatricians for the baby for when they are born and start it early. You need to choose one within your insurance network, and you should speak to friends and family for recommendations. The last thing that you need is to be hit with out of pocket charges, so make sure you do as much research as possible.

● Writing a will is such an important part of your new baby’s life. You will need to have it notarised what you would like to happen with your baby if something should happen to you, so you should really factor in the costs of a lawyer to make this happen. Your will is just one part of planning your estate, and you should have this in hand so that nothing can be left to chance.

● Your retirement money that you’ve been saving shouldn’t stop just because there is a baby on the way. It’s important to keep your regular payments going, because with a baby on the way there is more for you to save for as it is. One day, the children will grow up and leave home, but that still leaves you with the need for a retirement fund. It is important to keep going with your own personal goals and the idea is to support yourself in your retirement; that hasn’t changed!

● College may be 18 years away, but that doesn’t leave much time for you to plan for your child. From the moment that they are born, you need to set up a college fund. Give yourself the full 18 years to pay for their college and avoid the need to panic-save and go without later on. Believe it or not, eighteen years will fly past and in a blink of an eye, you will have adults to care for instead of children. The importance of a college education is a given, and if you can provide that for your children, you should.

Money is a big issue when it comes to raising a baby, as adding a new member of the family to the mix is a big deal. There is a lengthy list of responsibilities that come with raising a baby, and if you know the drill with previous children, you’re going to be thrown into the planning deep end all over again. It’s easy to miscalculate what you need for a new child so it’s important to pay attention where possible to your financial situation. Medical bills are not a joke and not a debt that you want to accumulate, especially not with a new baby in the house. It’s up to you to plan correctly from the beginning to ensure that your pregnancy, birth and the aftermath all run smoothly for everyone involved in the new little life. Babies are the ultimate blessing and they turn your life upside down, testing your sanity and your patience on a daily basis. The thing is, they’re the best thing that you will ever do with your life and you need to ensure that you plan for every twist and turn that parenthood involves.

Money Must-Do's Before Your Baby Arrives