Congratulations on the baby!

Review your budget. Are you investing at least 15% of your income for retirement? Have you budgeted for childcare?

Is your emergency fund in good shape? Do you have sufficient term life on yourself and your co-parent? Both are essential to giving your child a stable childhood.

Take advantage of thrift shops, Buy Nothing groups, and other inexpensive options for baby equipment and clothing. Babies and toddlers outgrow things long before they wear out.

Stock your freezer with easy to re-heat meals. The first few months are exhausting, so you can blow the budget and your waistline on takeout and delivery.

Think about how you’ll handle cash gifts to baby. Do you want to open a 529? Buy savings bonds? Do something else?

Remember to fund your retirement before investing for college. You can’t borrow to retire and you don’t want your children stressing over elderly parents.

Congratulations!