Having a Child

Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Death of a Life Partner
Military Life

Having a child is a major transition for parents. It is an exciting time that brings long-term commitments and considerations. Some of the most important considerations are financial considerations. Sound decisions made when having a baby will be beneficial to both parents and child for years to come.

A number of tasks can help you go through the transition of having a child. These include:

  1. Protecting against risk. “What updates should I make to my insurance plans?”
  2. Updating your estate plan. “How should my estate be handled if I were to die?”
  3. Arranging child care. “Who should provide day care for my child?”
  4. Revising your spending plan. “How will my income and expenses change as a new parent?”
  5. Saving for your child’s education. “How can we prepare for college expenses?”

Having a Child Tasks

1. Protecting against risk
2. Updating your estate plan
3. Arranging child care
4. Revising your spending plan
5. Saving for your child’s education


NAPFA Consumer Education Foundation
8700 W. Bryn Mawr Ave., Suite 700N
Chicago, IL 60631
(847) 483–5400 ext. 106