Pre-baby financial planning-A must before you become a Dad

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The news of your child’s homecoming is the news one can hear. The spur of moment is such that you forget everything around you. Pre baby financial planning is no exception. However before you both plan your baby, you need to make sure about yourself financially ready to expand your family? It is one of the core facts to realize before you prepare your mind to make a baby. You need to make sure that your bank account stable is enough to handle the shrink into it on the arrival of your newborn.

This blog shall tell you the art of financial planning and expenses you need to plan and save for while your baby is set to come and play with you.

What is Pre-baby financial planning:

 Pre-child baby planning is the way you get ready, for several expenses become inevitable which begin, as soon as your partner gets pregnant. so there are few tips for you how you may prepare yourself before it.

Reasons behind pre-baby financial planning:

  1. Gynecologist’s fee and regular medical tests: Need for Pre child financial planning begins, as soon as your partner gets her positive pregnancy test results your journey for round of medical tests begins (Ultrasounds),which stretch until her delivery and further too which calls for strong financial planning. Additionally the consultation charges for the doctors too are few compelling expenses. We suggest, while planning for the baby you must consider taking a health insurance that covers her pregnancy and childbirth too. Deem it as the pregnancy will graduate closer to delivery your expenses will shoot.


2.Cost of medicines and nutrition:
Pre-baby Financial planning may differ to an extend depending weather, your partner got naturally pregnant or it was an arranged conception likely IVF,her doctors will put her on various medicinal prescriptions and food plans, which she has to strictly follow. You need to make sure she gets all her supplements well on time for the sake of your partner and coming young one’s wellness. It may add to become another section of expense to encounter,before the baby comes.




  1. Hospitalization cost and preparation of C-section Expenditure: Your pre-baby financial planning must ensure the arrangements for the hospitalization and reserve money and plan your finances, if in any case she requires C-section to deliver your baby. For that, you need to plan all this before hand as mentioned earlier, plan to buy a pregnancy covering insurance or cash before the baby arrives.




  1. Baby Shower Arrangements: This is an important juncture for both you so why to have a celebration for your upcoming baby, make sure you keep up one of yout expense heads in your pre-baby financial planning should be baby celebration. Depending on your budget, you should keep a fund for arranging a baby shower for your partner and the baby, create a memory for her. Your strong planning shall make the event enjoyable for you too.



  1. Planning for the Nursery: IF you are one  of those Few parents who prefer to spare a separate room for a child then your Pre-baby financial planning may cover it. If that is you’re planning too, to have new room designed as per the baby, then you need to lose your pocket for it, prior planning is a wise idea.


7. Babys day to day expenses: Till this time you need to be permanently prepared for an expanded budget for the day to day expenses related to the baby, be it diapers, its medicines, food, baby sitter’s salary, pediatrician’s charges etc, it’s a big chunk be prepared. so make sure you pre child planning makes you ready be a perfect rich dad.



8. Baby is a permanent extension into your family-are you prepared.

Do not think this tiny chap shall not remain tiny too with his chunk of expenses, in fact, they demand larger responsibility and expanded financial requirement, thus pre child financial planning is utmost important. After all, you will be a dad, and it is a huge responsibility. Make sure you are ready and do it in a well-planned manner to bring the kid home.




How to create Pre-baby working plan


Pre-baby financial planning and Pre-planning for her pregnancy, delivery and baby is immensely important. You both must understand this change shall be permanent. You shall go through major life changes in terms of your relationship and finances. This section shall help to preplan your expenses. Here we go:


  1. Making a checklist of all your existing expenses: Before you plan an extension into your budget due to kid, you need to know your current expenses. You need to create a checklist of all your expenses with headers, say, home rent, grocery, leisure, insurances, and transportation. Then, make a grand total of all this to have a fair idea of your completely monthly expense.


  1. Remainder out of your expenses, shall not be your savings any more: Now, you need to consider the remaining chunk of funds you are left with after making all the expenses. That shall be the funds to be used for the family extensions and the expenses devoted too, and should not be considered as a part of your savings anymore.


  1. Cutting off your extra expenses: Now, you need to be responsible if you thinking of family extension. It is about a new life, you cannot take it lame. If in case you do not have ample funds with you for the kid, we suggest you to recheck, your existing checklist and cutoff few not required expenses from the checklist.

Secondly, if your partner is working, make sure you save one of the salaries for the future expenses, or may think of doing an extra part time job or homework too.


We are sure the feeling of becoming a dad shall be much worthier than some mere changes you may have to make through financial planning and cutting few expenses  We want you to rejoice all the moments of your pregnancy with her, without all worries. And no doubts money shall fall on the last foot to think when it’s about the home coming of your child. We wish you all the luck.



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