 TITLE: 6 Steps to Financially Prepare Before Having Kids CONTENT: 1\\. Create a Baby Budget\n------------------------\nBefore your child arrives, do your research and get a sense of the costs you'll be facing. For starters, talk to your health insurance provider to understand how much you'll be on the hook for with the hospital bill, since labor and delivery can be expensive even with coverage. You don't want to be blindsided by an unexpectedly expensive medical bill.\nThen get a sense of ongoing costs, including diapers, clothes, bottles or formula, daycare and any other anticipated near-term expenses that you will need to integrate into your budget. For some of the larger items, such as car seats and strollers, consider putting them on a registry so family and friends who want to contribute can.\nIf you can get an accurate idea of some of the expenses in advance, you can better prepare. It might mean cutting some current costs to make room for new ones. It could also mean spending less so you can set aside more savings and create a buffer. END