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Spouse/Life Partner Not Working- Stay at home Mom
Your little bundle of joy will cost you a bundle to raise! Making sure that your little one has everything he or she needs will take some planning. You may need to change your spending habits dramatically!
What you can do:
Try to save a lump sum in advance for new baby costs.
Take the time to find reliable, affordable childcare.
Take advantage of tax-free flexible-spending accounts that give you a break on regular expenses like daycare.
Notify your health plan of your new child within 30 days--or you might not have coverage.
Buy enough life insurance to support the family should something happen to the "breadwinner".
Make sure your will is up-to-date and name a guardian for your dependents.
Start saving for college now.
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