How to Make Financial Plans for a New Baby

By Lela Davidson

Posted by Chaoran Hu

Making financial plans and going through the process of budgeting for a new baby will help you become aware of the many costs that are involved in raising a child. Although I don’t believe you can ever really be ready for a baby – financially or otherwise - there are some things you can do before baby arrives to make life go a little smother.
How Much Does a Baby Cost?

As of this writing in 2008, according to the U.S. Department of Agriculture the average middle class family will spend over $180,000 to raise a baby from birth to age 17. And that's before you even consider college tuition. It can be an overwhelming figure and the truth is you’re paying that over time. What most expectant parents are interested in is how their finances will be affected as soon as they bring baby home.

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