Updating Your Budget

Adding a new member to the family means adding new expenses. On top of the initial cost of having or adopting a child, be sure to factor in these expenses:
  • Daily essentials like diapers, formula, and clothing
  • Child care
  • Increased medical premiums and potential out-of-pocket costs for doctor visits
If you don't already have a budget, take the time now to create one. Our can help you calculate your new expenses and allocate your income to handle them.

If you're coming up short, you may need to review your spending patterns to see how you might cut back.

And don't forget to update your W-4. Increasing your personal allowances will keep you from having too much withheld from your paycheck—and put a few more dollars in your pocket each month.


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