Budgeting for Baby Essentials

If you’re an expectant parent, you have probably learned enough medical terminology to pass for a fledgling ob-gyn, grasping complexities like alfa-fetoprotein levels and epidural anesthesiology. But studies indicate that you should be paying as much attention to the jargon of financial well-being — arcane phrases like “Section 529 tax-advantaged college savings,” for example, and “spousal IRAs.”

According to recent figures from the U.S. Department of Agriculture (USDA) in Washington, DC, a baby born now will cost a middle-class family $170,460 to raise through age 17. The figure climbs to $249,180 — about $15,000 a year — if a family’s annual income is above $65,800. And that doesn’t even include college expenses, now averaging $26,070 a year at private schools and $11,976 at public ones. Covering the costs will inevitably be a stretch, since a recent Consumer Finance Survey by the Federal Reserve indicates that nearly two-thirds of households with young children are saving no money at all.

Those zero-digit savings begin to collide with the expanding cost of childrearing when a baby is about 6 months old, says Ruth Hayden, a St. Paul, MN-based financial consultant and author of For Richer, Not Poorer: The Money Book for Couples. “Just when the baby is getting so cute and personable, a couple starts to fight over money issues,” she says.

To head off trouble, she and a team of other money experts (with 26 children and 18 grandchildren between them) helped Child assemble a nine-month plan for nurturing your nest egg as your pregnancy progresses. The payoff? Research shows that, given the same income, people who commit to a financial plan save twice as much money as those who just wing it.

The warm, fuzzy upside: The more financial decisions you work out ahead of time, the more fun you’ll have with your new baby.

Find Your Fertile Window - Order Now

2016-11-21T14:00:44+00:00 Financial Planning for Baby|

Ava for healthcare professionals

Please confirm that you are a healthcare professional or researcher

I am a healthcare professional

I am interested in Ava for personal use

Learn More | ORDER NOW

Jade & Tanner Got Pregnant with Ava!

Thank you everyone for all the support and for sharing your stories since we announced our pregnancy on Wednesday! We are so excited! For those of you who have been following us for a while, you may have seen our past post back in November about using the @avawomen bracelet to help us get pregnant faster. We got pregnant really soon after we started using Ava! I wore the bracelet every night while sleeping and Ava told us which five days were the best days to try for a baby each month. It took so much stress out of the process and was so easy to use. Since so many of you have kindly opened your hearts to me and have shared your stories about trying to get pregnant, I wanted to share what worked for us. Also, I've partnered with Ava to get you all a $20 off coupon code: JANNERBABY I'll be using Ava for all our future pregnancies and cycle tracking between babies. Thank you, Ava.

Mamiblock Got Pregnant with Ava!

@Mamiblock​ benutzt nun auch Ava! Hier ein kleiner Ausschnitt aus Julias Beitrag auf Youtube in dem sie erklärt, wie Ava funktioniert! Wir sind gespannt, wie es weiter geht mit Ava und Julia! Einen erholsamen Samstag Euch allen!