There are a mixture of feelings soon to be parents may have when expecting their first baby. I remember feeling excited, anxious, fearful and no matter what we did, we still felt unprepared. The physicians and nurses will prepare you for the delivery and immediate after care of the baby. However, no one really anticipates the amount of money it costs to actually take care of a newborn child let alone child care costs for working parents.
In addition, health care and baby gear for both mother and child are other areas to be addressed in financial planning as they can also put a strain on your household budget. And let’s not forget all the essentials like larger grocery bills, numerous diapers, clothing for an ever growing baby, toys and eventually education.
Family financial planning can often be the last thing on your mind when preparing to have a child, but it is something we strongly recommend you do as finances are the number one reason for arguments and divorce. You will certainly have more than enough stress to deal with by taking care of a new baby with sleepless nights and all the new worries that come along with it. If your finances are in order, you will have less worry and stress allowing you to focus your time and energy on your new baby.
If you’re expecting a new bundle of joy to your family, please give us a call at 716-720-5339 or schedule an appointment online to let us help ease your mind and put a plan in place for you.