Preparing for your new arrival
Ooh baby, I love the way… you prepare for your new arrival. In addition to picking out clothes and toys for your newborn, it’s necessary to get practical things done like budgeting for your child or picking out a pediatrician. Keep reading to make sure you don’t miss a thing!

Start a baby budget
Before you go shopping for your newborn, it’s important to have a budget. You’ll need to set aside cash for big investments like the crib and stroller; don’t forget to include the smaller things like clothes and toys, too.
In addition to budgeting for initial expenses, you’ll also need a monthly baby budget. The USDA found that the average middle income couple spent between $12,000 and $14,000 annually on child-rearing. Babies go through food, diapers and clothes quickly, and these expenses really pile up. Make sure you have the funds for these in advance by including them in your budget.
Talk with your partner about your current expenses and decide on how much to allocate each month for your baby. There are many ways to create a budget, such as the zero-based budgeting method or the 50/30/20 rule. Choose whatever works best for your family and financial situation.
Begin saving for long-term expenses
In addition to creating a baby budget, savings are necessary to help with big financial expenses as your child grows up. A dedicated college fund ensures that when your child graduates high school, they can get a good education and prepare to someday support themselves. Other large purchases you might make because of your new arrival are a family-friendly car or a new house. Savings will also help support you and your family’s big life experiences like vacations and even a wedding. Start saving before your baby arrives so your money can grow over the years.
Add your baby to your health plan
Another important step to preparing for your baby is adding them to your health insurance. You’ll want your newborn’s medical checkups to be covered by your policy, so it’s best to do this well in advance of their arrival date. If you need a plan that offers more coverage for your family, having a baby qualifies as an acceptable reason to change your coverage outside of a normal enrollment period.
Health starts at home and you’ll want to create a beneficial environment for your bundle of joy. Keep track of air quality and encourage good sleeping patterns with home wellness technology.
Find a pediatrician you trust
Once you have your baby added to your health insurance, start researching pediatricians. Babies need at least six “well visits” within their first year of life to make sure their health and development is progressing normally, and this doesn’t include unexpected visits, like if your baby gets sick. Pick a pediatric provider in your healthcare network and get some of those doctor’s visits scheduled so you have less to worry about later.
Obtain life insurance
Many parents would do anything to hold on to the precious time they have with their baby during infancy. Although time isn’t something that you can preserve, you can take steps to safeguard their livelihood from the unexpected. The birth of a child is a time when many new parents consider getting life insurance. In the event that you or your partner passes away, an active life insurance policy ensures that your family receives a monetary payout to help with any financial burden.
You have two main policy options: term and whole life. Term policies are only active for a set amount of time, and as such, they’re the more affordable option. Whole life policies are active for your entire life, and premiums are paid for the duration of your life. The benefits and drawbacks of each vary, so it’s important to evaluate your options and choose what is best for your family.