Tag Archives: financially having a baby

Money Monday: Personal financial steps for parents

With all of the excitement of adding a new baby to the family, it’s easy for the parents to overlook some key financial steps to take. In honor of Mother’s Day, here are seven tips you might want to share with them or consider for yourself (all from Forbes’s article):

1) Add your child to your health insurance policy
2) Update your will, trust, and beneficiary designations
3) Ensure you have adequate life insurance
4) Plan for childcare expenses

More tips from Forbes: “7 Important Financial Steps For New Parents To Take.”