If you’re expecting a baby, chances are you will have clothing, a crib or bassinet, blankets and other necessities ready for when your bundle of joy arrives.
Yet it is just as important to be financially prepared for the new addition to your family.
After all, it isn’t cheap to raise a child. A middle-income couple can expect to spend an average of $233,610 from birth through age 17, according to 2015 data from the U.S. Department of Agriculture.
“The thing to think about is, ‘what can I get cleared up today and off my financial plate knowing that this tsunami of stress and sleep deprivation is going to hit and probably set me back for six months,'” said certified financial planner Thomas Henske, partner at New