4 Things You Need To Consider When Growing Your Family
Finding that you are expecting a child is exciting, especially if you have been trying for a while. Getting your life to prepare for the addition takes a bit of planning. You and your family want to be ready in every way you can imagine. What are some of the ways you can get prepared in advance? Check out four areas you may have to consider before you bring your bundle home.
1. Is Your House Ready?
Adding one more to the family means space in your home is going to shrink that much. Whether you have other kids or not, chances are you may have to make adjustments to your current home or even go in search of another one. If you are a first-time parent, you may not know exactly how much space a baby takes up. While their bodies may be small to begin with, they amass quite a lot of accessories. Some of the most common items you should consider bringing home for baby include:
- Crib and appropriate bedding
- Changing table
- High chair
Aside from these items, you will have diapers, wipes, baby blankets and clothes that you need to store somewhere. A baby's room is typically jam-packed even before you go into labor. Consider taking time well in advance to plan for what room works or if a larger home is warranted.
2. Do You Need a Bigger Vehicle?
Your home is not the only space that will probably need modification before the baby arrives home. You may need to consider getting a more family-oriented vehicle. Carseats take up a great deal of space in the back of a car. They are made to be protective and lifesaving should you ever get into a crash with your child. You need to evaluate whether your vehicle is not only large enough to accommodate your growing family and their items (strollers, baby bags, portable chair), but is it up to safety standards? If you want to upgrade and get something that will be ideal for your growing brood, you may want to check out the latest auto loan rates and get the type of vehicle that will serve your family in the years ahead.
3. Have You Started Saving?
Depending on the type of work you do, your employer may offer paid maternity or paternity leave. If you are lucky enough to have some or all of your leave paid for, then planning for that time may be a tad easier. However, if you will either have limited or reduced pay or if you will be home on unpaid leave, you need a savings plan. You don't want to worry about paying the bills while you are trying to adjust to your new parental responsibilities. Ideally, you should try to have at least three months of income saved in the bank. When you know your income will be reduced, try to double that goal if possible.
4. Do You Need To Create or Revise an Estate Plan?
If you have children already, you may already have created an estate plan. This is not always the happiest of events, but it is necessary. As a parent, the last thing you want to do is have no plan for the care of your children. Should you pass away unexpectedly, someone is going to have to step up and care for your children. If you don't choose this person in advance as part of a comprehensive estate plan, the state will, and it may not be your first choice. Thus, creating a set of documents to care for your kids, financially and physically, is something you should create or modify soon after bringing baby home.
Adding to your family is a joyous event. If you take the time to plan, you may be able to knock out some of the things that stress new parents out. Get as much done as possible before bringing your new addition home, so you have time to concentrate on your new family.