{"id":10131,"date":"2021-02-08T08:16:54","date_gmt":"2021-02-08T13:16:54","guid":{"rendered":"https:\/\/wp.oviahealth.com\/guide\/10131\/preparing-finances-for-parenthood\/"},"modified":"2025-01-10T13:46:00","modified_gmt":"2025-01-10T18:46:00","slug":"preparing-finances-for-parenthood","status":"publish","type":"article","link":"https:\/\/www.oviahealth.com\/guide\/10131\/preparing-finances-for-parenthood\/","title":{"rendered":"Prepare finances for parenthood: new baby, new expenses"},"content":{"rendered":"\n<p>Now that you\u2019re a mom, you need to start thinking more than a few days or weeks in advance about <span class=\"pronoun-baby\" data-pronoun=\"baby\">Baby<\/span>\u2019s future, and though money matters can be a pain to deal with, it\u2019s important to get everything squared away ahead of time to set <span class=\"pronoun-baby\" data-pronoun=\"baby\">Baby<\/span> up for the brightest future possible.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Insurance<\/strong><\/h4>\n\n\n\n<p>New parents should explore, what, if any, changes you\u2019ll need to make to any insurance coverage you have. Though <span class=\"pronoun-baby\" data-pronoun=\"baby\">Baby<\/span> won\u2019t need any car insurance yet, <span class=\"pronoun-they\" data-pronoun=\"they\">they will<\/span> certainly need health insurance, so make sure that you plan is all set to add <span class=\"pronoun-them\" data-pronoun=\"them\">them<\/span> to the fold.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Childcare<\/strong><\/h4>\n\n\n\n<p>Not all new parents have the luxury of staying home and watching baby, and childcare can be extremely expensive, so it\u2019s important to figure out your plan ahead of time. Quality childcare is essential for <span class=\"pronoun-baby\" data-pronoun=\"baby\">Baby<\/span>\u2019s safety and development, so you definitely want to delve deeply into your options.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Saving<\/strong><\/h4>\n\n\n\n<p>Saving money is less important when you\u2019re living the baby-free life, but parents are under a much greater need to save money for <span class=\"pronoun-baby\" data-pronoun=\"baby\">Baby<\/span>\u2019s future, so you should make sure that you have some sort of plan set up to accumulate wealth for <span class=\"pronoun-them\" data-pronoun=\"them\">them<\/span>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>The bottom line<\/strong><\/h4>\n\n\n\n<p>Babies cost a ton of money, and they\u2019ll only get more expensive as they get older, so figuring out your finances in advance is crucial for the most effective life-planning possible.<\/p>\n\n\n\n<p><em><strong>Reviewed by the Ovia Health Clinical Team<\/strong><\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Read more<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.oviahealth.com\/guide\/10354\/unexpected-costs-of-having-baby\/\">Unexpected costs of having a baby<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.oviahealth.com\/guide\/53\/finances-having-baby\/\">Finances of having a baby<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Between your baby&#8217;s room, feeding and changing supplies, and clothes, having a baby can really cost a lot, and that&#8217;s not even counting other financial decisions, like changes to your insurance coverage and college savings accounts.<\/p>\n","protected":false},"author":1,"featured_media":232590,"template":"","format":"standard","meta":{"ovia_author_name":"","ovia_author_prefix":"","ovia_author_image":"","ovia_content_type_id":"175","ovia_product_mode":"3","ovia_days_from_signup":"","ovia_days_from_lmp":"234","ovia_days_from_baby_birth":"","ovia_days_from_enroll":"","ovia_health_module_days_from":"","ovia_article_for_email_days_from":"234","ovia_health_module":"","ovia_legacy_id2":"","ovia_ttc":"","ovia_article_subtype":"","ovia_health_symptom":"","ovia_partner_id":"","ovia_partner_custom_group":"","ovia_legacy_category":"6","ovia_legacy_category2":"","ovia_content_url_id":"10131","ovia_include_share_buttons":"","ovia_fertility_goal":"","ovia_secondary_module":"","ovia_trimester":"","ovia_child_age":"","ovia_share_image":"","ovia_more_menu_image":"","ovia_button1_url":"","ovia_days_from_postpartum":"","footnotes":"","_links_to":"","_links_to_target":""},"fert-category":[],"preg-category":[77,68,74],"parent-category":[],"fert-tag":[],"preg-tag":[],"parent-tag":[],"class_list":["post-10131","article","type-article","status-publish","format-standard","has-post-thumbnail","hentry","preg-category-bringing-baby-home","preg-category-giving-birth","preg-category-life-during-pregnancy"],"yoast_head":"<!-- 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