Even though it’s still a few months away, we’re counting down the arrival of our second daughter this winter. Having gone through this a few years ago, we’re not as stressed with getting ready. Becoming parents has been a wonderfully big change in our lives and we’re eager to see what will happen next as we become a family of four.
Speaking of finances and family, I’m excited to mention that Daily Finance interviewed us for their new Lifestage Lesson series about how we prepared for our first baby and what we’ve learned for our next one. The team spent the day at home and getting a close-up view of how we manage. Come check us out in the video!
What expenses can you expect? Every family is different, but here are some bills we’re expecting for our upcoming arrival:
Hospital Bills: Our insurance changed with this next child, so we will be having a higher hospital bill. The good news is that our OB appointments are cheaper this time around, so we aren’t feeling too squeezed.
Baby Gear: Though we plan on having all the essential ready, we want to have some buffer in case we’re misisng anything (every baby is different).
No Work for a Month: Based on the last time around, I’m estimating that I’ll be away from work for about a month.
There’s no way we can anticipate every expense, but we have some peace of mind knowing that we have a system in place.
Tips on How to Save for Your Baby
You can get more details in the video, but I just want to highlight some tips to help you get ready for the arrival of your little one.
Start an Automated Savings Plan: For us automated savings is a wonderful solution to not only keep us on track for our goals, but it saves us time. We’re using Capital One 360 to build our fund.
Let Your Network of Family and Friends Help: It does take a village to raise a child, so welcome help whenever you can. We were grateful when loved ones offered their talents and helped us get ready for our little one. Several friends contributed to preparing the nursery including painting, decorating, and even giving handmade art pieces.
Examine Your Work Situation: Childcare can be a huge expense, so sit down before the little one arrives to see what would be best for you and your family. Being self employed we had to look at whether I could finish my work while having her with me.
Thoughts on Savings for a Baby
Whether or not you start a baby fund separate from other savings, the important take away is having savings can help you with this big transition. You can focus on your bundle of joy instead of sweating over the finances.
I’m excited to announce that we are expecting another baby girl! We just had the ultrasound this week and we were so happy to get another look at our baby. We took our little one (can’t believe she’s 3 already!) with us so she could watch the ‘baby tv’. Watching her reaction to the baby that was on the screen was priceless.
We’ve been asking her if she wants a baby brother or sister and most times, she’s said sister. So happy the new one obliged, lol (I think it’s because of Frozen that she wants a little sister. She calls the baby Elsa or Anna, depending on her mood.)
I wish I could say this pregnancy has been smooth sailing, but it hasn’t. Like the first time, morning sickness has been a constant companion and there have been quite a few days I’ve been so sick and exhausted that I had to stay in bed. I dropped some weight and the doctors have been keeping an eye on me. Thank goodness for Ensure, or else I would’ve starved. 😛
After trying out both over the counter and prescriptions to help, we’ve found something that has allowed me to start living and eating again. I still have bad days, but I don’t have to hide anymore when food is around. Hopefully things will subside and I can enjoy the rest of the pregnancy. The important thing is our baby girl is healthy and growing.
Don’t Trust Those Baby Gender Myths
Like last time, people were eager to share their guesses on whether the baby was a boy or a girl. I think I’m a little more laid back with the whole thing, so I’ve been writing down what people have been saying. Apparently I gave off the impression that I was having a baby boy by some of my symptoms, such as:
My skin has been great
Big sweet tooth (on the days I did eat)
Narrow face (think that’s due to the weight loss)
Prefer to rest on my left side (huh?)
What’s funny is that some people say the opposite with these symptoms (like the sweet tooth one). Meh, I guess it’s one way to pass the time. Even with being interrogated by some experts, most people guessed the wrong gender.
For us, our big concern was the baby being healthy so we got our wish and we’re so excited to meet our little one come wintertime.
Tracking Baby Expenses Again
One of change that they baby will bring is the return of baby expense series. When we first found out we were going to be parents, we had no idea how big of an impact a baby would be to our (financial) lives. Happy to report the first go around wasn’t a huge change.
We built a baby fund to handle an big expenses like the hospital bill, but we had some left over. That money ended up going towards the car replacement.
We’re doing the same thing with this little – building a baby fund and if any is left over, putting it towards another goal. Unless something comes up it will be going towards paying off the student loan.
Share Your Stories
So happy to share our big news; I’d to hear yours. How are you doing so far? What has been the big events of 2014 for you and your family?