Episode 3 - Preparing Financially for a Baby

Having a baby is expensive! On today's episode Crystal & Lanea discuss steps they took to prepare financially to welcome a new baby.

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Crystal and Lanea discuss the financial stress of having a baby and share their personal experiences and tips. They emphasize the importance of being financially secure before having a baby and planning for the expenses that come with it. They discuss the unexpected costs of food and formula, as well as the expenses of baby gear. They also provide tips on saving money, such as buying generic formula and taking advantage of discounts and rewards programs. Overall, they highlight the need for financial preparedness and budgeting when starting a family.

Takeaways

-It is important to be financially secure before having a baby to avoid unnecessary stress.
-Planning and budgeting for the expenses of having a baby can help alleviate financial strain.
-Consider buying generic formula and taking advantage of discounts and rewards programs to save money.
-Be prepared for unexpected expenses, such as the cost of food and formula.
-Having a fully funded emergency fund is crucial for financial stability during maternity leave.

Sound Bites

"Depending on where you live, having a baby could make or break the rest of your life financially. And both you and I would likely agree that it's irresponsible to have a baby when you're not financially secure."
"40% of divorces are caused primarily by financial stress."