After you have a baby, it is important you sit down to consider your finances and ensure that you have covered the basics.
No doubt you are going to be unbelievably tired, so a checklist of things you need to do will help enormously so you don't forget anything.
So, as soon as your little one has settled for the evening (or for a few hours at least!), you need to sit down and go through the following money-related matters:
1. Health insurance
If you have health insurance, you need to add your new baby to your policy. It may or may not cost you any extra depending on the company you are with, but it will be another thing ticked off your list.
2. Life insurance
If don’t have life insurance already now is a good time to invest. This will mean that if something should happen to you then your baby will be financially cared for.
3. Childcare
If you plan on heading back to work at the end of your maternity leave, you need to look into your childcare options. While it may feel like a long way off, these things take time and you don’t want to settle for second best last minute because you are stuck.
4. Benefits
If you are entitled to child benefit or any other social welfare, it is important you sort them out as soon as your little one arrives. This will save you missing out on payments that you are entitled to.
5. Will
It is important you have an up-to-date will in the event that something should happen to you. If you don’t already have one now is the time to do – and make sure you name your child’s guardians on it.
