Are you a first time mom? Congratulations! You’re about to embark on one of the most amazing journeys of your life, and it’s a perfect time for first time moms to save money.
Raising a child is not easy, physically, emotionally, or financially. The estimated cost of raising a child from birth to age 17 has risen to over $300,000, or about $18,000 per year.
Not only health insurance but also life insurance. Looking into a low-cost term life insurance policy to care for your child if something happens to you is a responsible choice.
Hospital bills are among the most common ways first-time mothers rack up debt. It’s important to be mindful of childbirth’s medical costs and plan as best as possible.
First time moms may be able to save money by working to pay off debt as much as possible. This may include student loans, debt from credit cards, and any other type of payments owed.
If you have friends or family members with young children, you can ask if they have any gear that they no longer need and would be willing to part with.