Congrats…you’re expecting! Whether this was a surprise or you’ve been planning to grow your family, the countdown to your new bundle of joy begins the moment you confirm the news. Your mind is surely racing with everything that will soon change in your life. How can you best prepare? Take a deep breath, and know that no matter your current financial status, you can find ways to set you and your baby up for financial success. We’ve created a quick list to help you get started.

Assess your current financial situation and priorities: You may realize that you need to adjust your budget or cut back on spending for a few months to make sure you have cash on hand to cover the most critical needs throughout your baby’s early years. Or you may be able to open new accounts and aggressively save. Understanding your financial wellness is essential before setting your goals.

Understand your insurance: Monthly check-ups, ultrasounds, and follow-up appointments will be part of your new normal. Before you know it, you’ll be taking home a baby along with labor and delivery bills from the hospital. Make sure you understand your insurance premium costs and how adding a dependent will affect your monthly payments after the baby is born.

Borrow/rent and DIY where you can: Babies grow, and they grow fast. (Hold back those tears!) Hit up your friends to borrow items like bassinets, baby bouncers, car seats (watch for expiration dates!), high chairs, and newborn clothes that your baby will grow out of quickly. Many of these items can also be rented from baby gear sites. Check out your local online marketplaces and garage sales for these items. Tap into your crafty side and try your hand at a DIY nursery project as well!

Look into loyalty clubs and cash-back programs: Diapers, wipes, baby food, and formula (if necessary) are all products that will begin occupying your shelves on an as-needed basis. Subscription plans, loyalty clubs, and cash-back/rewards programs can be extremely valuable for the new monthly expenses you will begin to have. Save where you can and use credit cards with cash-back rewards so the more you use them, the more you earn.

Start saving for their future: Many parents have to decide, sometimes even before the baby is born, upon the route of childcare they plan to take. Saving for daycare or other childcare costs should be factored into your budget. Looking further, you can help your child save for college and beyond by researching different savings accounts at one of our local branches.

Have you exhaled yet? Don’t worry. You’ve got this! You can set yourself and your baby up for financial success no matter your current financial situation by following these tips and preparing as best you can.

A Junior Savers¹ account helps prepare for baby's future and grows with them. Free activities with the Junior Savers Club®² provide fun for everyone along the way! For customers under age 22 with no minimum deposit to open. $200 daily minimum balance to avoid a $5 monthly maintenance fee once the Junior Saver turns 22.

1. Junior Savers Account. Child(ren) must be accompanied by a parent or guardian & present a valid social security number(s) at account opening. Fees may reduce earnings.

2. Junior Savers Club. Membership is for customers under age 22.