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Expecting a baby? Important financial moves to start making.
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[QUOTE="Etini, post: 344073, member: 90141"] When people or a person is expecting a baby, the entire dynamics of their financial lives would need a bit of adjustments to accommodate and factor in the anticipated newborn in their financial life and decisions. Here are financial moves you should make when you are expecting a baby so that you can be eased up. 1) Create a baby budget: You would need to create a special part of a financial budget dedicated to the baby. This would involve baby food and items in the Ideal amount that would be needed for the baby monthly. 2) Increase your emergency savings: You would have to increase the amount you are saving for savings because with a baby in sight, the chances of having emergency situations increases. 3) Adjust your health insurance plan: You would have to visit your health insurance provider to include coverage that would include childbirth and baby health management. 4) Open a academic savings account: From the day you know that you are expecting a baby, you should open an academic savings account and contribute bit by bit to it. It could be a huge financial relief in the future for meeting school needs for your child. [/QUOTE]
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Expecting a baby? Important financial moves to start making.
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