Having a baby can be financially demanding for many couples. Parents-to-be need to follow some financial tips when having a baby in order to stay afloat before, during and after pregnancy.
"Wages have stagnated over the past decade or so, and fixed costs have gone up," author Nan Mooney told US News. Here are some practical financial tips when having a baby that can help maintain your financial stability.
Make the most of your #baby budget: https://t.co/97hPPZekQd #prelovedNSHD @UKBlog_RT @BloggersBlast #parents #tips pic.twitter.com/6m8vuZOJBp
— Kitty & B (@KittyandB) April 24, 2016
1. Start Spending Only After Childbirth
Borrowing baby items from friends or family before childbirth is one of the most effective financial tips when having a baby. After your baby is born, you will be able to buy items that will suit your baby's appearance, size and temperament.
Setting the family budget can be daunting, but really rewarding. Some tips for busy parents..https://t.co/yKIPcwmRit pic.twitter.com/Gz4lcla1G8 — Rosemary Marchese (@Rosemaryfitness) February 16, 2016
2. Take Advantage Of Benefits
Do not be scared of asking about your workplace benefits. Take advantage of availing your maternity or paternity leave without losing your salary. You can also check if your health insurance covers your baby check-ups.
3. Live Below Your Means
Many new parents get shocked once they experience how heavy the financial burden is when having a baby. Before getting pregnant, couples need to live way below their means in order to be fully prepared for all of the expenses ahead. "Living below your means means saving and having something left over for emergencies," All About Life shares.
Do you know of other effective financial tips when having a baby? Share your suggestions with other couples by posting in the comments section below.
