As much as baby brings joy to the family, baby also adds major set of responsibilities for parents. Whether you’re thinking of planning for a family or currently pregnant, a little preparation for the upcoming Bundle of Joy helps you better prepared for your baby’s future.
Before planning for a baby, do your annual checkup (if you haven’t done one in the last 12 months), take that multivitamin, and workout. If you have any issues such as thyroid, PCOD etc, it’s time to address them. Reg multivitamins, I was told by the doctor to take prenatal vitamin at least 3-4 months before we start planning.
Does your employer offer health insurance? If not, search for the one that fits your upcoming needs. If your employer offers one, check your current enrolled plan to see if it fits your needs. For us, HSA was a little expensive than the PPO plan. My pregnancy was better covered under the PPO plan and we didn’t pay much other than the deductible for our second delivery. Even though we paid high premium, considering the delivery cost and doctor visits after delivery, PPO plan worked for us. For our son (my first delivery), we were under HSA plan. Comparing both the plans, PPO was a better plan for my pregnancy.
Life Insurance itself needs a separate discussion. In summary, if you don’t have life insurance already, make sure to have term life insurance (why “term life insurance” is another big topic) to cover the baby needs until he/she becomes independent. I’m talking about 20-25 years term life insurance here.
Plan a Trip:
My husband is a big travel bug. We traveled quite a lot until our son was born. Even though it didn’t stop us from taking trips, the trips are shorter and planned completely around the baby for the first few months.
We took our baby moon trip to New Orleans just few weeks before my delivery. We are so glad we took it. Take that baby moon and travel as much as possible before delivery (if you health permits). Life takes a 180 degree turn after the baby is born.
I’m not kidding when I say some good daycares have long wait-lists. One childcare I know, had 2.5 years wait-list. Research the area you live and understand the available childcare options. Even if you don’t need to register right away, it’s good to have it in your list.
If you are having a girl, get a full size ladies dresser. If you having a boy, get a man’s chest of drawers. If you do not know if it will be a boy or a girl, wait until the baby is born. By doing this, you eliminate the need to buy baby dressers etc. which will become useless after a few years. If you start off with full size furniture, it will be useful for many years to come.
Here is a full list of baby freebies available for expecting moms. Babies add additional expenses. So, don’t forget to take advantage of these freebies.
Baby Essential Checklist:
There are millions baby essential checklists available in Pinterest. Buy only the essentials until the baby is born. I got checklist from multiple sources and started putting together one of my own when I was 3 months pregnant. In the next 6 months, I tweaked it so many times and bought only the essentials.
For first time parents, until the baby is born you might not be able to predict the exact things your baby needs. Let me tell you, each baby is different. For example, my son hates the crib and my daughter loves it.
If you are planning to contribute to your kids education plan, explore the options available in your country. 529 is an education savings plan in US. Here is more on how to choose a 529 for your kids. You can start investing in 529 plan in your baby’s name after he/she is born.
If you planned anything else other than what’s in the list, do let me know. I’d love to add them here.