SoFi Blog

From the sleep deprivation to the midnight feedings, your first child will represent a major—albeit wonderful—shift in the way you live. What’s more, your beautiful addition will also represent a shift in the ways you spend and save.
w
Raising a child is expensive—the USDA’s most recent report (2013) estimates the total cost from birth to age 18 at $245,340. So planning for your first child means also examining your finances and your future financial goals.

Here are nine ways to prepare financially for baby in just nine months.