Pregnancy? A baby on the way? It’s time to learn, even if it’s not your specialty, how to prepare your finances for the arrival of a baby. The countdown to an irreversible financial preparation process begins.
Pregnancy, health and the arrival of the baby
Above all, do not overdo it: you have to prepare but not overdo it, since this can cause an economic imbalance in the couple.
During the nine months of pregnancy, it is time to prepare from the point of view of finances for changes in the structure of the family budget. The first task to be clear, probably before the pregnancy itself, is where you want to perform the pregnancy and childbirth.
Another of the budget items that you should take into account is the purchase of all the furniture and fixtures that the baby will need.
Many parents, especially first-timers, are not aware of the change in consumption habits involved in the arrival of the first child. As much as possible, reduce debts and be as healthy as possible with finances.
There are things that a baby uses for a very short time, some only for a few weeks. Is it not possible to borrow them? The baby grows fast and will be for a short period.
Calculate how much it costs to allocate a space
To the baby in the house and take the forecasts of the case; If you have to make any extension or modification to your home. You can consider a home equity loan to cover these expenses. Having a space and furniture to install the baby costs a lot of money.
Affiliate your baby to your health insurance or IMSS, just be born. It is important to have that financial support, since you will have many medical expenses with the arrival of the baby.
Parents are not the only ones who rejoice at the arrival of their baby, also family and friends, therefore, accept gifts for the baby. And … congratulations.