Alot of preparation is usually made before the birthing of a child but one aspect we don’t usually take seriously and is very crucial is the financial planning aspect. Birthing a child is a serious process and doing things based on impulse is usually not a good idea, it is best to start planning financially for the birthing process just before or immediately after conception has been confirmed.
A good place to start is number 10. I hope this helps.
- Have a genuine money talk with your partner & Update Your Household Budget
- Research your workplace’s family leave policy, and find out how much maternity pay you will get
- Plan your post-delivery budget. Don’t go gaga AND Overbuy Baby Gear & equipment
- Look into the cost of prenatal services. Sign up for health insurance before your baby is born/ Understand your health insurance If you already have and anticipate costs
- You may be entitled to some benefits as a preggy either from the government, NGOs or your workplace, find out and take advantage to save you some cost
- Start/check & BUILD your emergency fund
- Try to clear any outstanding debt
- Think Ahead for Child Care options and what it might cost you
- Create a savings plan for your child’s future expenses
- BE HONEST WITH YOURSELF & Know exactly where you stand financially