“Maybe he doesn’t need golf lessons every week, maybe every other week would be fine,” Marmon said. “Maybe he can go to his golf lessons on Tuesday night and then baby-sit the kids on Thursday night so you can go out.”
Marmon says it’s essential for your emotional health to budget some money for baby-sitters or make an effort to find friends and family who can take care of your child so that you can have baby-free time.
“You need time as a couple and you need time just for yourself,” Marmon says. “A lot of women feel guilty about having any time away from their children, but it’s so important for them.”
In order to be ready for these new financial and emotional challenges of parenthood, experts say it’s crucial to start preparing early.
Ohio financial planner Stifler, who is the mother of three sons, helps families with financial planning, ranging from college savings to retirement. She says the best thing a couple can do is start looking at their finances before their child is born.
So, you just found out your pregnant, now what? Stifler recommends planning your post-baby budget as soon as possible, counting everything from formula and diaper expenses to child-care costs. Then, start living on that new budget while you are pregnant—putting away the extra money as savings.
“You have to anticipate how your life is going to change and start reprioritizing and redirecting those dollars before the baby comes,” Stifler said.
This is an especially important experiment for couples who are contemplating whether one of them should quit their job or reduce work hours to stay home with the baby. They should start living on that lower amount of income during the pregnancy, Stifler says.
“Take it for a road trip and see if you can live with it,” Stifler said. “It might look fine on paper, but if you realize you can’t ever afford to go out to lunch or do anything fun, it might not be realistic.”
Finally, Stifler advises expectant couples to research their health insurance options before the baby arrives. If both parents are working, whose company offers the best plan? How much will it cost each month to insure the baby?
