Having a baby is a huge milestone in your life, and it can greatly affect your life financially. From buying all the gear babies need to the additional food and diaper budget you will need, there are other financial aspects of having a baby to consider like childcare. So even if you are still just in the planning stages of having a baby, there are some steps you can take to help you out financially for when you are pregnant, or for when the baby arrives.
Whether you currently have health insurance or not, before you plan to get pregnant be sure to check into getting a new or possibly a better insurance policy. Some policies are much better when it comes to pregnancy and child birth than others, so look into the details to find the best one.
Maternity Leave Policy
Be sure to find out if your employer has a maternity leave policy and if you qualify for it. If you are not yet pregnant, but plan to in the future, you can negotiate maternity leave into your new contract with a new or existing employer.
Short Term Disability
Check into your employer’s short term disability program and see if pregnancy is covered. If it is, consider signing up for that prior to getting pregnant.
Looking at Childcare
As early as possible you want to start looking into childcare. Some places have long wait lists but it is also good to have an idea of how much extra money you will need in your budget.
Baby Gear Purchases
Don’t look into getting a bunch of baby gear, clothes etc until after you find out if you are having a baby shower or not. You will get many things that you then won’t need to buy. Even if you don’t have a shower many family and friends may choose to send you gifts for the new baby.