Financial to-do's before LO gets here

laurenrobbie · January 2010

What, if anything, are you doing financially to prepare in these last few months/weeks before LO gets here?

For instance, are you doing any last minute saving, upping your life insurance policies, etc?

NJBride4-8-05 · January 2010

I paid off my college loan by the end of the year before DD came. Didnt want that annoying bill every month.

Danielleee · January 2010

We had a lawyer draw up a will for us, although it won't be complete until a few weeks after LO arrives.

TheWerners · January 2010

DH and I both took out Life Insurance Policies. Other than that, anything we generally would put towards saving we're actually putting to any remaining debt. That's really about it so far...

IrishBrideND · January 2010

We took out a life insurance policy on DH. We increased mine (I've had one since birth).

Babymamawithdrama · January 2010

we raised my life insurance (in case anything unfortunate happens), will reduce it back to normal after LO arrives - we are normally protected but raising it just in case

kristalovesjared · January 2010

does hoping that DH gets a promotion/raise count??? Big Smile

mrsmegs06 · January 2010

We upped our life insurance policies. I did a will, and I'm still waiting for DH to do his.

rdgove · January 2010

We had an attorney create wills, health care proxies, and guardianship papers for us. We made sure to max out our 401ks/403bs and started a 529 college fund for LO. We both have life ins through work, but we're looking into getting private coverage for DH since he is the primary breadwinner (he makes 4x what I make and his paycheck covers our bills, whereas mine basically goes into savings). We're gonna wait til the end of the year to try to get his health better before applying.

MrsRebecca · January 2010

We upped our savings, downgraded our house (so that I could SAH) and got life insurance policies.

kdiaisfly · January 2010

SO's been putting aside $500 a week since I was 18 weeks pregnant. We are using some of this to buy the last things we need for the baby. Also SO is buying rental property and one of the properties will be for DS. Basically every profit from that property will go into a savings for DS. By the time he is 18 there will be 420k in that account *hopefully*

Krista123105 · January 2010

We already have life insurance, but we're going to be drawing up our wills in the next couple of weeks, as well as researching 529 accounts.

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