A family of your very own.
A little “mini-me” is an amazing part of arriving and you’ll want the very best for your kids. Look at a few of these tips and information for help with a smooth transition to parenthood:
- Check your employer’s benefits- Make sure you review your benefit package to know what’s covered. Many employers offer maternal and paternal leave along with other added benefits beside health care. You’ll want to ensure all of this is up to date and that the doctors you choose are covered.
- Start a baby fund- As soon as you start planning to have a baby, start a small fund where you deposit a certain amount each pay period. The money you save will go a long way in covering unknown expenses, or you can use it as a start for your child’s education.
- Reduce, Reuse, Recycle- Talk to your friends and family about some of the items they may be able to pass on from their baby days. Some items, like car seats, should not be bought second hand. But just as you are becoming a parent, others have done so before you. Don’t be afraid to take people up on their offer of gently used clothes, diaper genies, toys and such.
- Be ready for the expense of childcare- One of the biggest expenses you’ll ever incur outside of education is childcare – which is particularly expensive for young children. Even when they are old enough for school, you’ll have to be ready for after school programs, summer camp, etc. Check with childcare providers before the birth of your child so you are comfortable with both the person who will be watching your child and the money you will be paying them. Remember, there are sometimes waiting lists for new clients and you will want to be sure to choose a licensed provider so you can claim the expenses on your tax returns.
- Tuck away college money now- Many new parents are amazed at how quickly college can creep up on them- but if you prepare early, covering college doesn’t have to be a scramble.