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Life Events & Financial Decisions
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Financial Tip
 Make an appointment with your lawyer to create or update your will.
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Prepare for the cost of pregnancy
 
Having a baby brings so much joy, but that little bundle also brings big expenses, even before he or she is born. Here’s a guide to help new parents prepare for the cost of pregnancy and beyond.
Your budget and baby stuff
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Compile a list of anticipated expenses, including doctor's fees, maternity clothes, child care, and necessities for the baby and calculate the total.
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Distribute the total cost throughout the duration of your pregnancy. Pay as you go rather than purchasing everything at once on credit, and the sum becomes easier to manage ($4,000 divided by nine months is $445 per month.)
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If you’re expecting a baby shower, hold off on purchases so you don’t overbuy or double-up on items.
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Before buying new, shop around for clothing and nursery equipment (in good condition) at consignment stores, thrift shops, and garage sales.
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Use hand-me-downs from friends and family members.
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Ask your pediatrician for samples of formula and medicines.
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Use wholesale stores such as Costco or Sam’s Club to buy diapers and formula in bulk.
Having a baby brings so much joy, but that little bundle also brings big expenses, even before he or she is born. Here’s a guide to help new parents prepare for the cost of pregnancy and beyond.
Your budget and baby stuff
-
Compile a list of anticipated expenses, including doctor's fees, maternity clothes, child care, and necessities for the baby and calculate the total.
-
Distribute the total cost throughout the duration of your pregnancy. Pay as you go rather than purchasing everything at once on credit, and the sum becomes easier to manage ($4,000 divided by nine months is $445 per month.)
-
If you’re expecting a baby shower, hold off on purchases so you don’t overbuy or double-up on items.
-
Before buying new, shop around for clothing and nursery equipment (in good condition) at consignment stores, thrift shops, and garage sales.
-
-
Use hand-me-downs from friends and family members.
-
Ask your pediatrician for samples of formula and medicines.
-
Use wholesale stores such as Costco or Sam’s Club to buy diapers and formula in bulk.
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Related calculator
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Your health care
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Talk to your doctor about how your pregnancy visits will be billed. Ask if there will be a flat fee for all appointments and the delivery, or if you’re charged separately for every appointment.
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Call your insurance company to understand what pregnancy care costs will be covered. Ask about co-pays, deductibles, out-of-pocket costs, and specialty tests.
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Discuss with your doctor and your insurance company how these costs change if you require a C-section and additional hospitalization.
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Your job and benefits
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Investigate employee benefits related to pregnancy, including maternity and paternity leave and pediatric care.
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Learn about additional unpaid time off under the Family and Medical Leave Act. Be aware that if your company is smaller than 50 employees, you do not qualify.
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Ask if you can add unused sick and vacation days to your maternity leave.
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If you have two incomes, bank one and live off the other to get a realistic feel for what it would be like if you took an extended unpaid leave after the baby is born.
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Don’t forget to calculate any lost pay if you’ll need time off for doctor’s appointments.
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Adjust your tax withholding to reflect an extra tax deduction. Learn more here or contact your employer’s human resources department.
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Ask about disability coverage in case you need extended leave during your pregnancy.
-
Compare the costs of returning to work or staying home with this calculator.
Your health care
-
Talk to your doctor about how your pregnancy visits will be billed. Ask if there will be a flat fee for all appointments and the delivery, or if you’re charged separately for every appointment.
-
Call your insurance company to understand what pregnancy care costs will be covered. Ask about co-pays, deductibles, out-of-pocket costs, and specialty tests.
-
Discuss with your doctor and your insurance company how these costs change if you require a C-section and additional hospitalization.
-
Your job and benefits
-
Investigate employee benefits related to pregnancy, including maternity and paternity leave and pediatric care.
-
Learn about additional unpaid time off under the Family and Medical Leave Act. Be aware that if your company is smaller than 50 employees, you do not qualify.
-
Ask if you can add unused sick and vacation days to your maternity leave.
-
If you have two incomes, bank one and live off the other to get a realistic feel for what it would be like if you took an extended unpaid leave after the baby is born.
-
Don’t forget to calculate any lost pay if you’ll need time off for doctor’s appointments.
-
Adjust your tax withholding to reflect an extra tax deduction. Learn more here or contact your employer’s human resources department.
-
-
Ask about disability coverage in case you need extended leave during your pregnancy.
-
Compare the costs of returning to work or staying home with this calculator.
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