Planning for a New Baby

So, you’re expecting? Get ready for the congratulations from family and friends. And also get ready for the many changes coming your way. One major change will be financial. There’s no way to sugar coat it, or wrap it in pink or blue. Having a baby is an expensive undertaking. Luckily, you have roughly nine months to organize your financial life, because as your friends with children will tell you, there’s never time once a baby arrives.

What to do? There are several key points to consider. If you’re working now, how long will you be off of work for maternity leave? How will the reduced income impact your life? How much will you need to adjust your budget? Do you even follow a budget? If both parents will be working, it’s time now to start contacting childcare centers. Ask friends and family for recommendations. Follow up with the state agency that regulates daycare centers to research their ratings.

Then there is the issue of health insurance. Take the time now to review your policy or contact your human resources representative for assistance with making changes to your policy (you will want to add your baby to the policy) or for any questions that you may have.

It isn’t as overwhelming as it sounds. Ask anyone who has at least one child and they will most likely tell you that they prepared for the worst and it never happened. But it never hurts to be prepared.

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A certified counselor will contact you to explain how we can help.

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Advantage Budget Advisor

Advantage Credit Counseling Service, Inc.
River Park Commons • 2403 Sidney Street • Suite 400 • Pittsburgh • PA • 15203

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