Preparing for having a kid is a crucial step in the life of many families. Of course, we want to give our children only the best things: clothes, toys, education, and so on. It is only possible if your income is high enough or if you have prepared for this period.

We have created a list of ten tips for every family. If you decide to have a child, you should definitely read them and apply them to your life. It will help you to make this period easier and even happier. At the same time, you should understand that there wouldn’t be a perfect moment to have a child. You should only be ready to take responsibility.

1.  Build a personal financial cushion

This tip is mainly for women. The size of your savings should be such as to enable you to live alone with your child for three to four months if something happens to your husband, or he suddenly realizes that “he is not ready for such responsibility.” During this time, you will be able to find a nanny and go to work. It is crucial to understand that the cushion is not money for the child, not a reserve fund for the family in case of delayed wages, not your provision for the period of maternity leave. This is your lifeline in case you have to care for the child on your own.

2.  Pay all your loans, reduce the current budgetary burden

When a family has one salary instead of two, it’s already stressful. If they also have loans, they may not have enough money for even basic necessities while the two of you are still working. Try to reduce the credit burden on the budget as much as possible. You have to understand that loans won’t let you buy additional things, travel, or spend money in case of an emergency. In that way, it is probably the crucial rule — get rid of all debts.

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1.  Buy essential but expensive items

And we are not talking about a dowry for a child. It is rather about winter boots for you and a jacket for your husband. Think about car insurance, a new bed, if it’s time to change the old one. Heal your teeth. Buy functional home appliances: multicooker, robot vacuum cleaner. They will make your life easier unlike children’s clothes for photoshoots, which the child will wear only once. Think about all the necessary things, implement all the plans that were delayed. The money for this may not be able to be allocated in the next few years.

2.  Agree with your partner about financial interaction

In the decree, you may face one of three problems:

• the husband does not give money;
• he gives it, but demands to report and expresses dissatisfaction with too much spending;
• he gives only as much as you ask.

But the very fact that you have to ask is annoying. The first situation is the most difficult, and you should think about it in advance. Every person in the family should be protected and should feel secure.

3.  Decide how you will assign responsibilities

If one person works in the office and the second one sits at home and takes care of the child, this does not mean that only the first person needs rest. Newborn and even older babies need a lot of attention from their parents. In that way, it is always hard work to take care of them.

4.  Getting started with a budget

You have to understand where you spend your money. It is simple to analyze it by monitoring your purchases for at least a month.

5.  New priorities: planning the spending

Analyze what additional purchases you’ll need to make when you have a baby. Think about how much it will cost and include it in your family budget.

6.  Ways to optimize your family budget

The first step is to analyze your spending and figure out what you spend your money on every month to make your budget balanced and transparent. This will help you learn (or validate your assumptions) about your top spending items and how you can optimize them.

7.  Types of a family budget

The family budget can be joint or separate — that is, spouses can keep and spend the money they earn together or separately. The common budget is easier to maintain. Think about it, too.

8.  As in any other business, it is crucial not to overdo it in managing the family budget

There are several ways to control your expenses and income. Install an application on your phone in which you will record your expenses and income.

These general guidelines will help you to expand your family in a calm and safe way.