Over the past few months I've alluded to it here and there, but my wife and I are currently expecting our first child (you can see our baby in the ultrasound pictures above!). The due date is July 8th, and we couldn't be more excited to become parents for the first time.
Before I formed you in the womb I knew you. – Jeremiah 1:5
While we're excited, we also know that we have a lot of planning to do. We need to put some new categories in our family budget, plan ahead for baby expenses, buy new baby furniture, think about starting a baby college fund, buy life insurance and disability insurance, saving up for hospital expenses, increasing our emergency fund and so much more.
Thankfully we've already been able to find and buy all the baby furniture we needed including a crib and changing table, rocking chair/glider and a chest of drawers. We had the money saved up for this and just paid cash over the past 2 months for everything we needed.
Now we're getting into the baby shower season – my wife has already had one shower thrown for her by her friends. Next weekend my wife's mother's friends are throwing her another one. It's possible we might have even one more after that. The showers have been a lot of fun for my wife, and have ended up supplying a lot of the other essentials that we needed like clothes, diapers, strollers, high chairs and other things.
So, what's your advice to a couple of new parents? What things do you think are important for us to prepare for? What things would you tell us to do? Tell me your advice and thoughts for a couple of new parents in the comments section below.
Links From Around The PF Blogosphere
Here's some good reading from around the personal finance blogosphere this past week.
- DB(k) Pension Plan Rules. Is it the New 401k? @ goodfinancialcents.com
- The 10 Awesomest Safes I’ve Ever Seen @ budgetsaresexy.com
- How An Excellent Credit Score Has Helped Us Save Money @ freefrombroke.com
- Debt Plan – Facing Bankruptcy & Foreclosure @ debtfreeadventure.com
- First Timer? Reduce the Cost of Your First Home @ ptmoney.com
- Debt Is Not Evil @ providentplan.com
- Should We Buy a Vacation Home? @ mydollarplan.com
- How to Cure Financial Constipation @ moneysmartlife.com
- Backing Up Your (Personal Finance) Data To The Cloud @ milliondollarjourney.com
- Disposable Diapers Vs. Cloth Diapers @ moneyhelpforchristians.com
- Finding The Balance Between a Sideline and a Day Job @ greenpandatreehouse.com
- What You Need to Know Before Co-Signing a Loan @ genxfinance.com
- Are You Obsessed With Your Finances? @ frugaldad.com
- So Why are Economists Behind the Wheel? @ toughmoneylove.com
- Does Taking Advice From An Expert Relieve You Of Responsibility? @ enemyofdebt.com