The last thing you’ll want to do is leave money management up to chance when your baby arrives.
can provide vital funding for your family if something were to happen to you, your partner or both of you.From smaller ongoing purchases like diapers and formula to massive costs like child care, those baby expenses are going to add up. If you’re taking unpaid parental leave or one parent is leaving their job to handle caretaking full time, the money coming in is going to change dramatically.
Next, automate bill payments for recurring costs, like credit cards, utilities and mortgage payments. If you rent your home and normally mail a check to your landlord, use your bank’s bill-pay feature so it’ll send checks on your behalf. Set up whatever you can in advance so these services will continue without interruption and late fees.
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