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Baby Fever? Here are Financial Factors to Consider Before Getting Pregnant

Welcoming a baby into the world can be a wonderful, life-affirming occasion for any couple. Yet, there are also many considerations and concerns to keep in mind when preparing for this significant event.

Getting your finances in order and being prepared for the additional burdens you will face as parents is perhaps the most essential aspect, so here is a look at the costs you will face and some strategies for dealing with them.

Be aware of healthcare costs.

First and foremost, you need to think about the costs of the healthcare services required when having a baby.

So long as you have adequate health insurance, you should be able to mitigate most of the steeper expenses. Still, you need to be aware that there are fees to pay for scans and checkups during the pregnancy and the delivery and post-birth support.

Checking the cost of childbirth by state on is one way of working out where it is most affordable to have a child. You can also compare and contrast different healthcare providers and insurance packages to ensure you are covered appropriately for the trials and tribulations of pregnancy. Checking to see if financial support options for expectant couples are available in your area is also a good idea if you do not want hospital bills to become an issue.


parents with newborn

Assess employment-related benefits and limitations

Being provided with paid maternity or paternity leave by your employer is not a given; in fact, the US is one of the few places where new mothers do not have the right to continue claiming their salary for a period after the birth of their child. Instead, you get 12 weeks of unpaid leave by law (source, although certain states such as California do offer income support in this scenario.

Because of this, it is worth checking to see whether your employer offers specific benefits for pregnant employees that go above and beyond the bare minimum. Likewise, if you anticipate that your income will drop for a time after the birth, you should plan for this accordingly.

Calculate future expenses

After your child is born, there will be all sorts of new costs to bear, most of which will be an unavoidable aspect of your life for the foreseeable future. Because of this, you need to scout out the kinds of expenses that come with raising a baby and take these on board as part of your household budgeting efforts.

For example, grocery costs will necessarily increase, and there will also be expenses for things like childcare, clothing, and education to weigh up.

There is always room to make savings, but the only way to do so effectively is to prepare well in advance and be attuned to the kinds of costs that could suddenly fall into your lap when your little bundle of joy arrives, rather than being sideswiped by them further down the line.

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