 TITLE: How to Financially Prepare for Children CONTENT: Adjust Your Budget to Include a Child\n-------------------------------------\nThe earlier you start to budget for a new family member, the better. But how do you effectively approach a budget? There are several budget strategies, like zero-based budgeting and the 50\/30\/20 rule. Try out different techniques and stick to the one that works best for you. You should track all your expenses, from monthly bills to miscellaneous money habits, and start making room to include a child:\n*   **Pay down debt.** Birth and child-rearing are expensive enough; make it a priority to ditch any debts you have (particularly high-interest debts).\n*   **Pad your emergency fund.** The golden rule is to have enough set aside to cover three to six months of living expenses. Consider keeping your savings somewhere safe and add to your stash over time with automatic deposits from your checking account.\n*   **Cut down on expenses.** If you can switch your gym membership to free home workouts or pack a lunch instead of eating out, now's the time. Every dollar you put away or put toward your financial goals will help you prepare for the financial needs of having children. You can even enhance your saving superpowers with a side gig (bonus points if you can keep up your side hustle from home after the baby arrives). END