Skip to content

Effective money tips for parents to-be

Effective Money tips for parents to be

Effective money tips for parents to-be

You planned the baby shower and painted the nursery… but are your finances in order?

Whether it’s your first or fifth, having a baby requires a little financial planning. After all, you’re adding an extra member to your family. To make sure you’re ready to support your bundle of joy, check out these effective tips for organizing your finances:

Confirm your job’s leave policy
If you’re employed and plan to take time off for your newborn, check your company’s leave policy. The Family and Medical Leave Act (FMLA) grants all parents 12 weeks of leave, but not all employers offer compensation during this time. Find out if you can expect to receive a salary while you’re out, and plan accordingly.

Start saving now
The earlier you start saving, the better. In addition to a crib, stroller and diapers, you’ll also need money for food, toys, and, if you plan to go back to work, childcare.

Plus, you never know when an unexpected expense may surprise you, so you’ll want to avoid piling on credit card debt if possible.

Scope out discounts
When it comes to certain baby items, hand-me-downs may become your best friend. Start with the parents among your family and friends. Do they have any clothes or gear they no longer need?

Also, find out about parent groups in your community, and see if they have mom-to-mom sales. A gently used item might save you a bundle for your bundle.

 

© Copyright BALANCE, Inc. All Rights Reserved

Recommended Posts

External Link Disclosure

By accessing this link, you will be leaving AMOCO FCU's website and entering a website hosted by another party.

Although AMOCO has approved this as a reliable partner site, please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of the credit union's website. The other party is solely responsible for the content of its website.

We encourage you to read and evaluate the privacy and security policies on the site you are entering, which may be different than those of the credit union.

You will be redirected to

Click the link above to continue or CANCEL

For a better website experience, we recommend viewing our website on Microsoft Edge, Chrome or Firefox. Thank you!

We recommend downloading one of these browsers for a fast, secure, and modern web experience.

Login to your account