Having children is the desire of many couples. Represents the consolidation of the union through the family project. However, the experience can be traumatic if finances are not in order. While many leave the matter in “God’s hands”, nothing like a good plan for when the time comes. It is well known that having a child is very expensive, not only the first years of their life when they get sick, when they have to go to school or when they have dental issues and you have to take them to a Tijuana dentist for some unforeseen problem with the bite.
If you still need reasons to wear a condom, here is a review of what you should keep in mind before having your expensive offspring.
Things start in gestation. It is important to have medical insurance that covers all exams and checkups related to pregnancy. If you have charges for consultations (an average of $ 20 dollars) create a fund for them. According to The Nest, health insurance must cover most of the costs of the nine months and 30 days after delivery. If your policy says otherwise, it is best to look for another company.
The working mother
Motherhood represents a stop on the way for women workers. Companies usually cover maternity leave, but if they are independent or working part time, it is best to save the money that will cover the income that will not arrive for at least three months.
Emergency fund and budget
Saving is always good. It is good to create an emergency fund that is available by the time the baby arrives. Estimate that you have a little more money that you and your partner earn in six months. It is the way to be covered in case of unemployment, increase in income or an accident that leads to a temporary disability. It is also the help you will have in case your salary is small.
Create a budget with the projected expenses. It will be your navigation card in this new stage of your life.
According to the United States Department of Agriculture, the expenses of a child in the first year. They are valued at $ 12,000 for families that earn between $ 40,000 and $ 100,000. These increase as the child grows by nurseries, babysitters, additional education, etc. It is estimated that a child costs $ 200,000 over a period of 17 years.