Baby Preparedness Finance Checklist: Insurance, Taxes, and Wills
With a baby on the way (or if you're planning for one in the near future) it's time to get your money in order. Having a baby can have a huge impact on your finances, and it's better to be prepared in the months leading up to your little one's arrival—because you likely won't have much time after the birth.
It's important to get a true picture of your finances before the baby, says Faisa Stafford, personal finance expert at Life Happens, a nonprofit that aims to educate people on insurance. "Make a list of what you own, what you owe, and what financial products you currently have. Use this to assess your current financial health and create a plan to reach your financial goals," Stafford tells Parents. Here's a checklist of money matters to get in order before baby.