If mom or dad is staying home to take care of the baby, calculate how the loss of income will affect the family budget. Look into flexible spending plans. Some employers offer this benefit to help cover dependent care expenses. You may be able to direct a portion of your pre-tax wages to a personal account from which you can draw reimbursement for child care costs. Since you'll have less taxable income after channeling dollars into the plan, you'll pay less in taxes and increase spendable income.
Baby needs a doctor.
If you and your spouse have separate health coverage, compare the two plans to determine whether to include your entire family under a single plan. Also, find out which insurance plans are accepted by your chosen care providers, including your new pediatrician, and don't forget to consider each plan's hospital affiliation. Shop early for baby. You'll also have more time to comparison shop and find items on sale. Delay making smaller purchases.