Financial realities of family life

A man is worried about his thoughts on whether he will be able to provide for his family well? Financial preparation for childbirth and later life is a very difficult task.

"And how to pay all this?" - the most common thought of future fathers. A man will have to closely monitor the financial situation at this time, as he will have to think about the cost of the birth and upbringing of the child. It is necessary to take into account all the rates - from payment for the care of a woman during pregnancy and childbirth to the cost of buying everything necessary for the child. And do not ignore the future costs, from nurseries to school!

A man needs to discuss with his wife their current financial situation and think about what may happen later. Discussing the future, the spouses will be able to plan almost any of the possible situations. Providing the child financial stability by the time he grows up is the goal of almost all parents.

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Estimate costs

How much does a man pay attention to what money goes to and how much the family spends? Some people know about what they left every penny! Others do not know what their revenues go to every month. It is important to monitor this. What for? Because the birth of a child means an increase in expenses, and most likely you will need to save. If you do not know what the money is going to do, it's harder to do.

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Record for a month

A good idea is to estimate the costs. To help understand what money goes to, and identify areas in which you can cut costs, you should write down everything you spend every day for a month. You need to start with fixed monthly expenses, such as rent, permanent services, insurance premiums, car expenses and others. To this number, permanent payments and contributions to the credit card should be added, if there is one (this is discussed in more depth later in this chapter).

Then both spouses should buy small notebooks and carry them with them. It is necessary to record all expenses (cash, checks and credit card) in this notebook, and at home transfer these records and spouse entries to a general notebook designed for these purposes. This may seem like a very laborious activity, but in fact everything is quite easy.

If a man does not want to carry a notebook with him, you can save all checks, and then use them to calculate the costs. Perhaps this will seem simpler than recording expenses during purchases.

At the end of the month, the couple should see together how they spend money. Compare the costs of each with the total amount of costs. Which spouse spends as much? When it becomes clear what the money goes to, you can make a reasonable decision about what changes are needed in the family budget.

Spouses are likely to be surprised at how much they spend on things that they do not think about. But considering costs in black and white can help them understand what their habits are. Some people find that they can save money by lowering the cost of some elements of luxury life.

Should you cut costs or increase income?

After specifying the monthly budget, the spouses should decide which areas of expenditure they should better control.

In view of the prospect of an early appearance of the child, it is possible to decide better to plan the expenses in order to acquire everything that will be required later.

You should see where the money goes. Is it possible to reduce large expenses, for example, use one machine instead of two? Are any of the purchases not necessities? These can be areas in which you can save, if necessary. For example, you can sell a car if you need one, and the couple have two, which will save money, going to taxes, insurance, gasoline and repairs. Or instead of a daily lunch in a cafe, you can take lunch with you from home.

If it is difficult to cut costs, you will most likely need to increase revenues. Can I make more money by working overtime at home? If one of the spouses works part-time, can he get a full job? You should check any way to get additional income if there is no possibility to cut costs later.

Whatever decision is made, it should be taken together. It can be difficult to cut spending, but parents are required to provide financial stability to the child. It means being a responsible parent. If you start now, you can save a lot for the sake of the cost of a child. Knowing that this is family care will help a man to withstand a huge change in his financial situation more easily.

Debt management

If the spouses pay the loan, it should be paid as soon as possible. You also need to monitor the balance on your credit card. This may require action, but it's worth it. The following actions should be taken:

Find out how much money is on credit cards and write down this amount. Then find out how much interest each year comes on each card, and compare them. Most likely, these are unequal numbers. Some may be low, some - quite high. If the spouses do not fully pay this debt each month, it can also go into planning their expenses.

Find out which of the companies this percentage is the highest. Do everything to fully pay the debt on this card, even if it means that the rest will have to make minimum payments. When the debt on this card is paid, you should pay off the debt on the next with the highest interest of the debt.

You should use only one credit card, and then - only in case of emergency. If the spouses want to control their expenses, one way to do this is to pay in cash for everything that is possible. The process of taking out a purse and paying in cash will force the spouses to better monitor how much they pay than simply handing a plastic rectangle to the seller.

If the spouses have loans (except for mortgage loans) - it's time to take care of them. If they can be paid within 8 or 12 months, you should do it. Many loans can be paid quickly, without waiting for interest. If you do this, the family will have what they took this loan, and more cash every month.

It is necessary to refuse superfluous expenses. Before you buy anything, think about the money. Is this a necessary purchase? Maybe, you can do without this? If the spouses can refuse to buy more, they will rather pay off their debts.

Emergency supplies and other important needs If the spouse's budget is barely adequate for their current needs, they should consider how they are going to act in unforeseen circumstances. If something serious happens to them - loss of work, unexpected expenses, a serious illness, will the couple be able to bear it?

Pregnancy is the most appropriate time to make sure that the family has savings in case of emergency. Most experts advise having in stock the amount of money sufficient to cover the expenses of the family for 3 or 4 months. This amount includes mortgages, services, food expenses, transportation, payment of loans, payment of credit cards, payment of childcare facilities (if necessary) - all that need to be paid to maintain the current standard of living.

If the couple decided to stabilize this fund, it's time to make sure that it is available. It is worth placing this money in a bank or an account, then to them it will be definitely access.

The spouses may not have a lot of debts, but not very much money in this stock. This is the case when knowledge of monthly expenses is useful. Using it, you can check whether there is an opportunity to reduce costs in order to increase this contribution.

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It should be financially responsible

Becoming a parent means that the spouses will have many new responsibilities. Financial responsibility is one of them. Spouses may not plan their expenses. Until they have no children. But with the advent of the child their life will change, and this is one of those areas where changes may be required.

If you start these changes during pregnancy, the spouses will know for sure that they will be able to provide the baby with everything necessary. Financial security will help the family maintain the confidence that their parenting begins with the needs of a growing family.

Time to write a will

Have the spouses written a will? Statistics show that among people under 35, about 90% do not care about it. This can be understood: most people do not like to think about their death and prepare for it. But pregnancy is a time when you should reconsider this area of life and write a will. You should take care of this before the birth of the child. Both the man and his wife must write a will, if it is not already written. It is important that in the wills both parents take care of their child.

If the will is already written, it's fine. It should make some changes and additions, in particular, to name or supplement the heirs by including a new member of the family.

Appointment of guardian

The most important aspect of changing or writing a will is the appointment of a child's guardian. If something happens to a man, his wife will take care of the child, and vice versa. But what happens if something happens to both spouses? Who will take care of the child in this case? Without a will in such a situation, the fate of the child will be decided by the court.

There are a few things to think about before you appoint a guardian. You should discuss the following with your spouse, and then decide who to entrust such responsibility.

• To whom can the wife be entrusted with the care of their child?
• What is the age of this person?
• Is he healthy?
• Is this person financially and emotionally stable?
• Does he have his own family and children of about the same age (this has its positive and negative sides).
• Will the child know this person?
• Does this person's income coincide with the spouses' income?
• Will this person save the money that the couple will leave to him for the child?

Who else can be appointed if this person refuses or can not take care of the child (it would be nice to specify at least two people in a will).

CHOICE GUARDIAN. How important is it for spouses to choose the same guardian? Perhaps a good move is to solve this with his wife and in the wills to indicate the same person. This will help to avoid problems if both spouses die in one day. If different guardians are named, the court will decide which of them will take care of the child.

After the guardian is chosen, it is necessary to discuss this with him. You should not include anyone in the will as a guardian without prior agreement with this person. He may have his reasons to disagree. It would be nice to choose at least two people who are able to be the guardian of a child. First you should ask the first candidate and, if he agrees, include him in the will. Choose an alternative guardian (again, he should be asked before including him in a will in this capacity, and inform him that he is an alternative guardian).

If a person agrees to be a guardian (or an alternative guardian), it should be included in the will. If the spouses want to entrust the financial affairs of the child to another person, the guardian of the property should also be appointed. This man will take care of the inheritance of the child.

Someone who inherits When writing a will, it does not need to specify who should transfer jointly acquired property. It goes directly to the spouse after the death of the other. All you need to specify in this case is to name the heirs, corrected for the appearance of a new one.

So, what is more important is the will, except the name of the guardian? It is necessary that a person can indicate there everything that he personally owns. If the spouses have different deposits, separate property or something else, in addition to jointly acquired property, a person must indicate who will receive what. The will makes it legal.

Many believe that in case of death and in the absence of a will, the husband will inherit everything. This is not true. If a person dies without writing a will, the court determines the inheritance rights, being guided by the laws of the country. If a person is married, his wife and children will receive equal shares of inheritance. A good idea is to entrust a spouse or another adult person to save money before the child enters the inheritance rights. If a person is not married, the will is even more important, as only this will give confidence that his partner and their children will receive an inheritance.

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Where to write a will

Some people will say that to write a will does not need a notary, if a person does not have too much property or heirs. They believe that the "guide to writing homemade wills" is available in some stores or it can be found in computer programs. Some of them are really good, but if a person, not being a notary, writes a will, he, of course, will save money on this, but in the future it will be expensive for his child or family.

Perhaps the spouses will want to make sure that in the will they put all the points above the "i" and it has legal force. The only way to make sure of this is to give the will to the notary.

The cost of consulting a notary depends on many things. However, the confidence that the will is valid and the guardian appointed by the spouses, and not the court, will care about the child, as well as the belief that heirs and guardians of property are also determined by the decision of the spouses.

Perhaps the couple will want to leave a will from a notary in case of a difficult situation. For example, if the family has complicated relationships and the couple believes that their relatives will not follow the will, it will make sure that the will is undeniable. If one of the children is sick or needs special care, it is important in the will to specify in detail who will be responsible for providing this care.

If the partners did not marry, the notary will help, having consulted them about everything necessary, and the partner with the children will be legal heirs.

If the spouses decide to use the "guide to writing homemade wills," they can ask the notary to check it after it is written. It costs money, but it will make it possible to make sure that the partner and children will not have problems with this will in the future.

Time to check insurance

After writing the will, it's time to find out where the money can come from. Most often they are provided in case of life insurance. During the life insurance check, you should also pay attention to other types of insurance. It is necessary to check life insurance, medical insurance, insurance in case of incapacity, homeowner's insurance or a tenant. You should look at the list and decide which insurance will be useful after the birth of the child. Time to make all the necessary changes!

When insurance is provided by the employer, you should learn more about this insurance and its outlets. You should not lose sight of this!

Life insurance

A person has a desire to be sure that if something happens to him, his child will be provided and will be taken care of before his coming of age. It is important that life insurance covers the costs of training a child. The amount of insurance should be increased with the appearance of each new child in the family. It is necessary to insure the lives of both parents in order to be sure of that. That the child will be provided.

You should find out about all the existing organizations that provide life insurance, and then consider the details with your spouse. What is the payment amount? Does the employer provide insurance? What is the amount of this payment? Most experts recommend an amount that exceeds the annual income of a person by 8-12 times to be sure that the child will be able to maintain a standard of living, grow up and enter the educational institution.

If the spouse of a man works, he should find out whether her employer provides life insurance and what will be the payment in the event of her death. If this payment is small or the employer does not provide insurance, the man may want to arrange this insurance for her to cover expenses in the event of her death. If his wife does not work, the insurance should still be issued (perhaps, this will have to wait until the birth of the child). It is necessary to find out how much it costs to pay for a childcare institution per year and add to this the cost of home care. The amount, about 10 times the annual payment, will ensure the spouses confidence that their child will be provided.

LIFETIME OR TEMPORARY INSURANCE? Is life or temporary insurance? With lifelong insurance, also called permanent insurance premiums are sent to the fund, where it is not subject to taxation. If necessary, you can count on this fund. This is the type of insurance in which a person pays his own insurance.

In case of temporary insurance, you can choose for how long life is insured, for example, for 20-30 years, because it is called "temporary". Usually, temporary insurance is the cheapest. The insurance premium depends on the person's age, and he pays a certain amount every month. Temporary insurance is less expensive, since contributions do not go to the insurance fund. In addition, in this case it is easier to change the amount of a monthly insurance premium for a family supplement. It is also important to monitor how often it needs to be updated.

Search for Appropriate Insurance. If it turns out that you need to increase the monthly insurance premium, the best advice that we can give is "look!". Different companies offer different amounts of insurance premiums. You can consult with agencies or search through the Internet.

Health insurance

One of the most important things that must be done before the birth of a child is to revise medical insurance. If a man's wife works, it is possible that her employer pays her insurance. If the partners are married and both have health insurance, they will certainly want to make insurance in another organization on more favorable terms.

If a woman does not have health insurance, it may be difficult for her to get pregnant during pregnancy. Many insurance companies have a waiting period (about 1 year) before they pay the birth cost of the child. A good idea is to find out if there is insurance included in any social program, or whether there are no child health insurance programs. Some of them are free, some require a low payment. They are available even if both spouses are working.

When checking health insurance should think about some things. Is insurance the standard when the insured pays the contributions and part of all expenses? Who supports the social program? In different cases, the amount of payment varies. Spouses need to find answers to some important issues related to payments, before they issue insurance. If both work on this, they will be able to find an organization that will cover both policies in the insurance situation. Family policy is a good choice. Or you can find out which organization has better conditions for one parent and for the child.

To find out what is paid by the policy, you should talk with specialists in the company. If the consultant can not give accurate answers, you can contact the company directly. Some questions to ask:

• What is this type of payment?
• What are the benefits of motherhood, if any?
• Does the term "motherhood" refer to childbirth by cesarean section?
• What types of anesthesia during childbirth are most beneficial from this point of view?
• What is the payment for a policy for pregnancy associated with a high risk?
• What is the insurance premium and how often do I need to pay it?
• How are the consultations paid?
• Is there a chance to fully pay for the cost of childbirth?
• What percentage of the amount is paid?
• Are the conditions chosen by us (maternity, delivery in the general room or in a separate room) paid?
• What procedures should I take before coming to the hospital?
• Does the cost of the policy include payment for a nurse?
• Does the price of the policy include payment for medicines?
• What tests during pregnancy are included in the cost of this policy?
• What tests during childbirth are included in the cost of this policy?
• What types of anesthesia during childbirth are included in the cost of this policy?
• How long can the mother and child stay in the hospital?
• Payments are sent directly to the hospital or to the insured?
• What services are not included in the price of this policy?
• What elements of childcare are included in the cost of this policy after the birth of the child?
• Does the cost of this policy include payment for the selected doctor?
• What is the additional payment for inclusion of the child in this policy?
• How to include the child in this policy?
• How long does it take to include a child in this policy?

You should find out from the company about payment of procedures, tests, medicines and other things related to childbirth and motherhood. For example, some insurance companies do not pay for ultrasound, so it is important to clarify this in advance. Some types of insurance do not apply to the newborn - it is possible that the cost of his stay in the hospital will be paid on his own. Or the price of the policy does not include the doctor chosen by the spouses. If the insurance does not cover all expenses related to medicine, you should start preparing for it as soon as possible.

Disability insurance - is it necessary? If an accident occurs with one of the spouses, as a result of which he did not have to work for a long time, the disability insurance is a good choice. As a result of this insurance, with a temporary incapacity, the insured is paid a certain amount of money. Most employers provide this insurance, but each working spouse needs this insurance to be about 65% -75% of the amount of his income.

The employer of a man or his spouse can provide insurance for incapacity in the workplace. The negative side of this insurance is that when you switch to another job, it stops and the benefits are usually relatively small. In addition, there is a difference in taxes between policies paid by the employer and independently. If the company pays for this policy, the worker pays all income taxes. If the policy is paid by the worker, then his income is not subject to taxation.

If a man decides to buy a policy on his own, he should look for one that is subject to renewal and does not close after reaching the insured retirement age. The best insurances for temporary incapacity determine it as "inability to perform normal work." Some, less expensive insurance, pay only if the insurer can not work at all, they should be avoided.

It is necessary to clarify the waiting time - many insurance provided by the employer have a 30-90-day waiting period. Sick leave may not be paid for quite some time. This is the case when the presence of an inviolable stock can be decisive. In addition, payments can be lower if the worker has chosen a longer waiting period before receiving the sum insured.

ADDRESS TO THE WISE. A man should make sure that his wife found out from his employer whether the insurance is provided for the incapacity of pregnant women. In some cases, payments are made only in the case of serious health problems or after the birth of the child.

Insurance of real estate

Real estate insurance is a good way to invest money to protect the family from financial losses in various cases. This policy may include such an item as exemption from liability in the event that an accident occurs at home with someone.

The amount of the payment should be clarified. If the spouses decide to hire a nanny, they should make sure that the insurance applies to everyone who appears at their home, even to a hired nanny or a housekeeper.

If the spouses do not have their own home (and, therefore, they can not insure it), they should learn about the possibility of insuring a rented property. This insurance is valid in the same cases as real estate insurance, and it should be borne in mind.

Insurance that should not be bought

In connection with the early appearance of the child, the couple can learn about many types of insurance. However, there are several types of insurance that are not necessary because they cost more than will be paid in the event of such an insured event. The following types of insurance should be avoided:

• Credit insurance. This type of insurance pays a mortgage and other debts in the event of the death of a person. It is more expensive than life insurance, and money comes only to pay debts. In addition, this type of insurance applies only to one of the spouses. If both spouses want to insure, they will need two policies.
• Insurance in case of illness. This insurance applies only to a single disease, for example cancer. It is more reasonable to purchase full medical insurance, which is valid in case of many diseases.
• Life insurance of a child. Until the child begins to earn money himself - a Doyolno rare case for a newborn - his death will not affect the financial situation of the family. And you should not "fixate on insurance," it is wiser to save money to pay for training.
• Life insurance in the event of an accident. This insurance will provide a large amount of survivors in the event that the insured person dies as a result of an accident, for example, in an auto accident or in a plane crash. The risk of death as a result of an accident is very low. If a person believes that he needs such insurance, he should check the credit card. Some organizations provide insurance in situations such as a plane crash, if the ticket was purchased using this card.

Cost of child care

Deciding which of the spouses will go to work, and who will sit with the child after his birth, is one of those that one does not want to think about for most families. However, even despite the need to earn, in many families, none of the parents want to stay at home.

And every parent wants to be sure that their child is well taken care of while they are working.

Usually the employer pays for the employee all taxes, including the tax on medical care. An exception is allowed if the employer pays the employee below a certain amount. This should be clarified by lawyers. Make sure that the property is insured and these expenses are covered by insurance.

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Cost of child care

Childcare costs quite a lot. For some families this is about 25% of their income. The cost of caring for a child up to three years is the highest, it depends on the type of care, although with adulthood it does not go down too much. The cost of care for a child at home depends on each case.

For low-income families, there are public institutions. This should be learned from the place of residence.

There are also social programs designed for such situations; in particular, you can take a loan.

In some situations, the child may require special care. If a child is born with a pathology or a disease and needs personal attention, it will be more difficult to find a good nanny, and it will be more expensive.

Life by Means

If one of the spouses does not go to work after the birth of the child, the couple should check how they are going to live on one salary. Perhaps they should start living only on the salary of that spouse who is going to go to work, already during pregnancy.

If both spouses are going to go to work, they should find out how much it costs to care for the child - this can be a very large amount. You should find out this at your place of residence and start saving money to pay for these purposes.

The best way, which is suitable for any situation, is to start living on the expected income after birth, during pregnancy. Extra money can be put on a savings account in a bank, and a decent amount is created for the birth of the child. And the couple will get used to a new standard of living.

Tax changes

Having a child affects taxes. Since a child is worth a lot of money, it is important for parents to find out all the ways by which they can save money when paying taxes. This section discusses taxes, tax credits and other ways to do this.

The cost of taxes

One of the first things that needs to be done is to find out how much money from the salary goes to paying taxes. With this, you can wait until the birth of the child (after the birth of the child, some taxes are reduced) or think about it during pregnancy to find out how much money will be spent on taxes after the birth of the child. Care should be taken with this if the child is born at the end of the year. If you change taxes this year, and the child is born next year, then there will be difficulties. Such questions should be asked by lawyers.

It is undesirable to spend "extra" money. It is better to put them on the account so that they can be used in various unforeseen situations (unplanned necessity or expenses related to childbirth and buying everything that is necessary for the child). After the birth of the child should also save money.

Child Benefit

For each child under 3 years of age, benefits are paid. Also, when the child reaches the age of majority (if he is studying at the daytime department of a state higher educational institution), and before reaching the age of 24, the income tax is reduced.

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Should I return to work?

Spouses are probably wondering whether it is worth returning to work right after the birth of the child from a financial point of view. You can make some calculations that will help you decide the solution. First of all, you must add up all the costs associated with the work:

• Paying babysitting.
• The cost of artificial feeding (if the mother can not breast-feed) and equipment for the nursery and for the home.
• Income tax.
• The cost of the road to work and work.
• The cost of food, dry cleaning and other necessary things.
• The cost of such expenses as eating out, buying food, hiring a housekeeper.
• To determine the cost of vacation:
• The total cost of benefits and expenses associated with the fact that one of the spouses will not work.
• Total costs associated with work.
• Divide this number by the total number of hours spent outside the home. This gives an idea of how much it costs each hour. Spent away from home and away from the child.
• This should include things like insurance provided by the employer.

This number may surprise the couple.

Money saved for the child

It is always a good idea to keep a certain amount of money only for a child. In this case, it can be used for unforeseen expenses or for training, when the child grows up, in particular, the costs associated with obtaining higher education. In this section, we discuss ways to save money for the child.

There are several ways to invest money for a child. The more risky the contribution, the greater the profit. However, a risky deposit means a high risk of losing money. You can choose a safer way of investing money. Spouses should think together about exactly how they want to invest money.

It is not bad to create an account for the child, with money from which he can use in the future. Replenish it should be regular, making part of the family budget. When a child grows up, it will be possible to inspire him so that he also replenishes this account. This will help the child to understand the value of this contribution for himself and help to instill in him useful habits. It is not necessary to invest a lot of money every time, the main thing is to start early and put a small amount every month there.

Gifts

When a child is born, the spouses will most likely receive many gifts. Many of them will be useful for the child. Friends can also ask their spouses what to give them. When a relative or friend asks about what to give, you can always tell about the "account for the child." The hint that they can put a little money on this account is not rudeness, extortion or bad form.

Bank deposit

It is advisable to open an account in the bank shortly after the birth of the child and place there all the money that the child receives as a gift. Also, it should be replenished if possible. When a child grows up, you can add money earned to them. If you do not pull this for a long time, by the time you reach the age of your child, this account will have a pretty decent amount.

General contribution

General contributions, called savings, are also a good way to invest money to support a child's future. Many of them do not fix the time and amount of payment, because you can always put some money there whenever you save money. Quite a few of them require a relatively low first payment.

If this account is created in the name of the child (and one of his parents), you can get a benefit in taxes. In most cases, the tax in this case will be lower than if this account is opened only to the name of the parent. This is quite beneficial for some families.

During pregnancy, you can specify about these types of contribution. The earlier the deposit was created from the moment of the birth of the child, the more money the child will receive, even if this contribution exists for a limited time. The later start, the less money there is. Also see below discussion of such contributions.

Payment of higher education

Soon parents will understand that their child will quickly grow older. Despite the fact that it may seem improbable, pretty soon he will be old enough to get a higher education. In addition to the changes in life (for everyone), connected with the fact that the offspring leaves the house, parents will see that education is expensive!

Higher education can completely deprive parents who have not planned this money. Pay higher education in some universities in 2002 cost about $ 5,000 per year, and this amount increases annually. Parents should think about what this amount will be by the time their child is required to enter the university.

What can be done with this? The best solution we can offer is to start saving money right now.

Savings account

In the past, many parents opened a savings account to save money by the time the child needs higher education. Children under the age of 18 do not have the right to open their bank account, because this is a good way to save money for the child. Savings deposits include joint, related and general contributions.

A parent (or another adult) can prevent money from being given to the child's name and control the account before the child's majority. At this age the child takes responsibility for the contribution and all the money and can spend it as he or she wants, without having to ask anyone for permission to do so.

On the taxation of contributions should be clarified in each specific case.

Some other recommendations

Responsible parents want to take care of all possible financial matters before or after the birth of the child. The following are other financial details that the spouses may not have been aware of, and which can be done during pregnancy or immediately after the birth of the child.

Maternity leave

A woman should discuss a maternity leave with someone from her colleagues at work. And then she needs to discuss her plans and expectations about the maternity leave and the subsequent return to work with the chief, social worker and colleagues, if necessary. She should be aware that some decisions can not be made before the birth of a child, in particular about how soon she will return to work, because she can not predict how the childbirth will pass. Perhaps she will feel good and will return to work earlier than she thought. Or she will have difficult births or need a cesarean section and she will spend more time on vacation than she expected.

Different companies with maternity leave have different details - from a fairly short unpaid person, they released several fully paid months. Paid leave is usually considered temporary disability.

A woman should also learn about her rights in connection with maternity leave. She must know that by law she does not have the right to ask about when she is going to return to work. But it is desirable to discuss this with the authorities as early as possible so that you can calculate the budget taking this into account.

Reasonable shopping planning

Since we have already discussed the financial aspects of being parents in this chapter, we now want to suggest how you can now plan the purchases that the child will then need. Preparations for the appearance of the child, we will discuss in Chapter 9, but here we will give future parents the opportunity to think about how and where they will buy everything that they need, and how much it will cost.

It is not a bad idea to estimate the approximate cost of these purchases now, when the couple are still somewhat removed from the true high cost of the necessary. It should be understood that it is undesirable that these purchases "eat" the entire family budget, and that although parents want the best for the child, this is not always necessary. You can buy a lot in the second hand or borrow from friends and relatives (if these items meet the safety standard). You can search for things in different stores and do not forget to look at the prices on the Internet.

Withdrawal of a bank cell

If the spouses do not yet have their own withdrawn bank cell, now is the most suitable time for them to remove it. This can be done in many banks at a reasonable price.

In the cell you can store important family documents, such as a marriage certificate, birth certificates, insurance policies, wills, contracts, contracts for real estate transactions, values of not too frequent use, for example, ornaments and other items that you want to be securely protected. It is recommended to make a list of items placed in a bank cell and make copies of important documents to store them in a fireproof cabinet at home. It is also possible to store copies at the place of work.

When you remove a cell, you should make sure that both spouses have signed on the contract and, therefore, the key to it will be available to both of them, as well as the cell itself - this will eliminate the need to go to the bank every time and it will be useful in case, if one of the spouses dies or a misfortune happens to him.

If one of the spouses takes maternity leave

If the mother takes a maternity leave, she has some new rights. In particular, she is paid a child allowance and she gets some benefit in taxes.