(ThySistas.com) Everyone knows that, with a baby on the way, there are preparations you should take. As such, large portions of your pregnancy have likely been taken up with painting nurseries and buying baby clothes. You also need to spend time preparing for the life changes. Having a baby will, after all, change your emotional life in every way.
Through these preparations, many of us fail to consider the technical aspects of becoming parents. We’re talking about the boring, but equally important stuff. Rather than getting out the paints, these involve getting out the pens and tackling paperwork. But, these preparations are as crucial if you want the best life for your little one. Admittedly, it’s not the end of the world if you don’t deal with them right now. But, doing this before the baby comes along is your best chance of providing what they need. So, what are these preparations exactly?
Life insurance
The chances are that your view on your own life has changed since becoming pregnant. Suddenly, another human relies on you. Or, at least, there will be soon. As such, you may be feeling more need to look after yourself and stay healthy. But, no matter your efforts, it’s important to acknowledge that you never know what might happen. And, if something does leave your baby without you, you need to know that they have everything possible. Which is why it’s time to turn to life insurance. As well as ensuring their children receive money after their death, 85% have life insurance to cover burial expenses. Think about it; not only will there be no payment if you don’t put a plan in place, but your child may also have to cover burial costs and so on. Don’t put that burden on them. Find the best policy, and get yourself covered.
Nest eggs
Another thing to consider at this stage is nest eggs. Much like your life insurance, these ensure financial support in the future. Many parents set up savings accounts when they fall pregnant, and keep putting money in until their child reaches 21. This financial backing can make a huge difference down the line. Other parents opt instead to buy rental properties and use those as a nest egg. If you have the money to do it, this is a fantastic option. As well as providing savings in the form of rent, this means you have a property to pass on when the time comes.
School applications
And, the paperwork doesn’t end there. You should also start to think about schools at this stage. It may seem soon, but it’s never too early to think about this. In fact, the earlier you take this step, the better chance your child has at the best education. It may be that you need to move to ensure they’re in the catchment area. You may also find that waiting lists for good schools are a few years long. Do your research, and consider what you should do.
Staff Writer; Lisa Moore