How to Manage Financial Near Birth

You and your partner may not be too dizzy to manage finances while still living alone. But the situation will surely change before the birth of the child. You and your partner must be overwhelmed by the inevitable extra costs, such as labor costs, nanny fees, daycare fees, baby supplies, and more. The best way out is to save early for the needs of your child, and follow these steps:

1. Check the health insurance
Many companies have health policies, which automatically bear the child's health through insurance. Well, what about the insurance of your company? Check back. You should also find out whether prenatal care, cesarean delivery, infant care, and immunization are also covered by insurance from your company?

2. Ensure details of maternity leave
If you plan to return to work, you need to make sure what rights will be received and what benefits will be gained from the company during maternity leave. Do not forget to talk directly about this leave to your boss.

3. Managing debt
If your credit card balance is out of control, now is the time to start restricting it. Here's how: write down your debts on each credit card, and find out the annual interest rate of each card. Pay debts on credit cards that have the highest annual interest rates in advance of your ability, then switch to the next highest annual interest rate card.


4. Make special savings
You may need extra money for childbirth costs that may not be covered by insurance, such as another overnight stay at the hospital, the cost of diapers, clothing, and other baby items. Try telling the couple to save specifically for the cost of childbirth, separate from the savings to buy a home or retirement savings.

5. Change the family budget
You need to cut some routine spending so you can buy baby needs. Sit with a partner, and decide together your family's household budget changes.