If you’re expecting, it can be one of the most exciting times in your life…and most stressful. But, it doesn’t have to be! With a little planning and preparation, you can take out some of the financial stress that comes along with the excitement of baby’s arrival. In the early stages of your pregnancy, take the time to sit down and come up with a new baby-friendly budget. Research the cost of diapers, formula, and other baby supplies to make your new budget as accurate as possible. It’s also a good idea to start pricing daycare options. It may actually be more cost effective to stay home with baby, but you’ll never know until you start crunching the numbers. Having a baby can be very costly and hospital bills can add up fast. Figure out what is covered by your insurance, and what portion you’ll be expected to pay, then start saving! Not only will your hospital bills cost you a pretty penny, but monthly baby supplies, plus unexpected expenses can really add up! If you’re planning on staying home with baby for awhile on unpaid leave, you’ll also need to save up to cover your normal expenses during this time. Before baby arrives, it’s also a good idea to get your affairs in order and consider getting life and disability insurance… just in case something happens. Near the end of your pregnancy you should start stocking up on supplies. A baby shower can be a great way to get some of the necessities. Be careful though, there are a lot of baby products out there, and it can be tough to know which ones are truly helpful and which are not. Speak with other parents to avoid spending on items that won’t really be worth it. You may want to consider starting a 529 College fund or separate savings account for your baby. This can be extremely beneficial down the road as interest helps it grow! After preparing financially for baby, sit back and relax, and take in all the excitement…and sleep, that you can. If you want to read more about preparing your budget for baby, read the entire article here.