Pregnant? Eight things to do before having a baby.
You鈥檙e pregnant? Congratulations! Here鈥檚 a checklist of major things you need to take care of.
1. Understand your maternity coverage and benefits
A study by聽聽found that out-of-pocket costs for people with employer-provided health insurance in 2010 ran about $2,200 for vaginal births and $2,700 for cesarean-section births. You鈥檒l want to understand which maternity services your health plan covers and ensure your providers are in your plan鈥檚 network. If you don鈥檛 have coverage, you should investigate what different providers charge and look into聽.
2. Budget
Babies are expensive. Plan for costs now while you鈥檙e still getting some sleep.
3. Plan for leave
Understand the law and your company鈥檚 policies to know how much time you and your partner can take off and how family leave will affect your budget.
4. Look for childcare
Many parents reserve a spot in childcare as soon as they confirm the pregnancy. That鈥檚 because spots in good places can be precious.
5. Buy stuff you鈥檒l need
There are so many things expectant and new parents buy: prenatal vitamins, maternity clothes, a crib, a changing table, a diaper pail, a baby monitor, a car seat, a stroller, a diaper bag, baby clothes, bottles, a high chair, toys, baby-proofing supplies and much, much more.
6. Add your child to your health insurance
Health plans generally give you 30 days from birth to add your child to your policy. Some allow 60 days.
7. Protect your family
In your will, designate a guardian who would care for your child if both parents were to die. Set up a trust that would disburse funds to care for your children if you die, choose a trustee who would manage it, and name the trust as the beneficiary of your life insurance and retirement accounts. If you聽, a court would have to appoint an adult to oversee the money.
If you don鈥檛 have life insurance, buy it to protect your family. Buy disability insurance, which you and your family are far more likely to need than life insurance (revisit your needs if you have a policy).
8. Start saving for college
College is expensive, but聽聽will do a lot of the work for you if you start now. Here鈥檚聽聽and a list of the聽.
There are, of course, many more things expectant and new parents will have to do. But if you tackle these tasks, you鈥檒l be well on your way.
