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Financial Planning for Pregnancy guest post by Alan Murray



Alan Murray is a dad of two and the webmaster of a unique baby names site. The site contains more than just baby names, with articles on Toddlers, Baby health and Chemical pregnancy symptoms.

Financial planning for pregnancy

Having a baby is the biggest thing that will ever happen to you. However
this comes with the extra financial burden that can cause parents sleepless
nights. Financial planning is necessary to survive this period and doing
this should help with any anxieties that you may be feeling.


Family Budgeting

Make up a list of outgoing and incoming money in a month and compare
them. This will help you see what sort of money you have to play with.

You can then look at your list and see what reductions can be made.
One definite change is expenses relating to your social life! Don’t
expect to be going out as much after the baby is here! You need to
look at what your outgoings are and see what can be reduced.

Don’t buy too much stuff for the newborn as you will get a lot of
presents and you are best waiting to see what you need after the baby is
born. Don’t be scared to take things back – there is no point having 5
winter jackets! Take them back for a refund or exchange. The person who gave
you the present will not be offended if you explain this to them.

Medical Health Insurance

Check whether your health insurance can cover any of pre-pregnancy or
parental costs. Many of these plans have this contained and it is well
worth looking at the details of your plan. Some will cover the cost
of c-sections and anesthesia.

Does your company have a medical plan? Some companies will pay out for
each day you are in hospital and this can add up to a reasonable amount
depending on how many days you are in for.


Living within your means.

Food – can you cut back by using supermarket own brand’s more?

Eating out – how about cooking a lovely meal in the house rather than
going out to a restaurant?

Shopping – are you just bored or do you really need to go to the
shopping mall? If you are just bored then you will probably just buy a
lot of thing you don’t actually need!

Do you really need to keep up with the Jones’?
Think about what your definition of rich is – keeping up with what other
people have is not necessary, whether it be a new car or the latest mobile
phone.

Buy with cash! It is easy these days to pay with your card but maybe it
is too easy? Paying with cash always helps me value money more.
Only shop in the sales – why pay the full price for your clothes? I
really only ever buy from the sales and always have managed well.



Comments

  1. 2
    Board Certified Doc says:

    Quite an informative post, addresses the important issues of pregnancy.

  2. 1
    Board Certified Doc says:

    Quite an informative post, addresses the important issues of pregnancy.

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