Financial Decisions You Need To Make While You’re Pregnant
If not before.
Congratulations! You’re pregnant. There’s so much to think about and plan for over the next nine months — and almost none of it is free, or even cheap.
Finances are rarely the first thing we think about when we discover we’re expecting a baby, unless they’re already stretched, in which case they may be our biggest concern. But whether you’re financially comfortable or not, preparing financially for a new baby means making a few important, and immediate, decisions.
Financing the pregnancy and birth
Depending on where in the world you live, being pregnant and giving birth can be a major expense. According to Forbes, the average cost of giving birth in the USA without health insurance is $18,865 (less for a straightforward birth, rising to $26,280 if a caesarean is needed).
How much of these costs you’ll need to plan for will depend on your health insurance plan, of course, but average out-of-pocket costs are $2,854. These costs are for the birth alone, so you’ll need to factor in pre-natal care and post-natal hospital expenses for both mother and baby.
As with almost anything, it’s wise to plan ahead if you’re hoping to have a family someday, and choose a suitable insurance…
