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Even with insurance, new parents can expect to pay several thousand dollars out of pocket for maternity care.Ĭontact your insurer or the hospital where you plan to deliver to get more specific numbers.
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The average cost for delivery can range from $10,000 to $20,000, depending on where you live. Then build a plan for managing the other costs, large and small, that come with having a baby. “This will absolutely need to be adjusted as you get closer to your due date, so having a starting point is priority No. “Outline all your current income and expenses so you and your partner have a solid understanding of where your money goes each month,” Hargrove says. If you don’t already have a budget, start there, says Cecilia Williams, a mother, certified financial planner and the chief operating officer of Halbert Hargrove, a financial planning firm. You’ll be lucky to remember what day it is, much less when your next credit card payment is due.ĭo your future, sleep-deprived self a favor and start prepping your finances early into your pregnancy so things can run on autopilot for a while after the baby arrives. Mustering the energy - and attention span - for otherwise routine tasks like showering and paying bills can feel like a tall order. In the early weeks, your waking hours are a cycle of feedings, diaper changes and Googling “Is it normal for a baby to (fill in the blank).” The arrival of a new baby is all-consuming.