Today, Nicole gives six ways you can financially prepare for a baby... plus, a personal update. For the federal financial resources for new parents, click HERE.
Full Episode
I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab. There's a I think I'll talk about it at some point. But for now, I'm thinking a lot about a DM that I got about budgeting for a baby. And because that is so top of mind for me right now, I wanted to go ahead and answer it.
As I mentioned yesterday, this will be my last episode of Money Rehab before going on maternity leave. But if you missed that episode yesterday, don't worry. Money Rehab is still going to be here for you every single day.
While I'm out, the show is going to be guest hosted by some of the smartest people I know in business and personal finance, like Tracy DiNunzio, who built and sold the luxury resale company Tradesy, Peter Tuchman, who you know and love as the stockbroker on the floor of the New York Stock Exchange, and
and a fellow MNN podcast host, Minda Hartz, who's the bestselling author of The Memo and is an expert on workplace culture. Moe Schwanunu, who's been a journalist for 500 years. He hosts my favorite daily news podcast, Moe News, which is actually joining the MNN family. Yay.
Claire Wasserman, who is an expert on pay negotiation, real estate extraordinaire, John Grauman, attorney, but a very cool one, Pamela Maas, who you probably know from Instagram as Law Mother, and our very own EP Morgan Lavoie. And Thank you so much for joining us. and some special holiday episodes that you'll hear closer as we get to the end of the year.
I wanted to try and give myself and my husband some time with our daughter, but I also wanted to make sure that your days would still be full of stories and tips and tricks to make your money work harder for you. And I think you're really gonna like this, but don't like it too much because I will be back here very soon. You cannot get rid of me, fam. So with that... Let's talk about babies.
I knew that babies were expensive, but I didn't know how expensive until I got pregnant and I haven't even given birth yet. So I love that money rehabbers are reaching out with questions about financing a family because you should budget for a baby. Alyssa DM'd us with this question.
Hi, Nicole. My name is Alyssa. I'm 28 and I'm currently pregnant with my first child. My question is simply, how do you budget for a baby? And how do you plan for all those unexpected costs during the pregnancy and postpartum? I currently have to get ultrasounds way more often than I'm expected to because I'm considered high risk. And that's a cost I didn't plan for.
So now I'm not sure exactly where that money is going to come from. So how do you do it? How do you budget for all of that?
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