We have been looking at strategies which couples can use to manage their money as their relationships develop through courtship, engagement and marriage. Let’s look at some of the financial considerations that couples may face when a new baby comes into the picture.

Save for medical expenses

An increase in medical expenses is an unavoidable reality when planning for children. From the pregnancy test that confirms that the little one is being formed, to the hospital bill after the bundle of joy enters the world, couples should expect to spend a lot of extra money on health costs.

Even if couples are not ready to start adding to their family, it would be wise to create a ‘baby account’ in which they put aside some funds every month. This nest egg would be a significant help in dealing with prenatal expenses when they finally make the decision to have children. Continue reading Money & Relationships: Then Comes Baby in a Carriage →