Congratulations—you’re going to have a baby. A lot of excitement comes when that pregnancy test reads positive. Doctor appointments, baby showers, and learning the baby’s sex are top of mind for most expectant parents.
But what about the financial consequences of having a baby? Sound financial planning is more critical than picking colors for the nursery. The expense of a baby can blow the budget. How should you prepare financially in the nine months leading up to the big day?