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5 Key Things to Do After Having a Baby


SPONSORED CONTENT -- (StatePoint) Becoming a new parent is a joyous occasion, but no matter how many parenting books you’ve read, nothing can completely prepare you for your baby’s arrival. With every pregnancy comes a long to-do list, but here are five tips to review after having a baby.

1. Start building an emergency fund.

Being financially prepared for anything can help protect your growing family. Managing your cash flow and setting aside a specified amount each month for an emergency fund will have your future self thanking you. Whether it ends up being an unplanned doctor’s bill or emergency car repairs, you’ll be prepared to meet the cost. Use a free online emergency fund calculator to determine what’s a good amount of cushion for your situation.

2. Review your life insurance plan.

Although this big, exciting event just happened and the last thing you want to think about is something bad happening, it’s always better to be prepared. A set amount of money each month towards a life insurance plan can help your family in a worst-case scenario, providing financial security and the ability for your family to maintain their current lifestyle. Life insurance could pay for daycare to allow the surviving spouse to work, fund your child’s education and provide income replacement to help pay off a mortgage. Erie Insurance offers affordable and flexible life insurance plans to make certain you get what you want for your family. Take the time to find out how much insurance you need by visiting

Hint: Ask your insurance agent about bundling your home, auto and life insurance – it may be able to save you money.

3. Apply for your baby’s Social Security number and birth certificate.

Social Security numbers (SSN) and birth certificates are not automatically generated upon birth. Nurses or the hospital will more than likely offer you the steps to apply for your baby’s SSN and to fill out the birth certificate. However, it is important to complete these items promptly to avoid a delay or issues in adding your baby as a dependent on tax forms, health plans and more.

4. Add your baby to your health plan and benefits.

Most insurance plans allow 30 to 60 days to add your new baby to a health plan so that the birth and continued care are covered. Be sure to add your new dependent or the hospital might bill the full amount for your stay. Contacting your health insurance provider is the easiest way to ensure your new dependent is added.

Hint: Before your baby is born, compare health plans to see which insurance plan will cover more birth and postnatal costs.

5. Start saving for college.

It’s no secret that student loan debt is out of control. Putting away a set amount of money each month into a secure account can set up your child with a healthy debt-free financial future. If your child chooses to take an alternative path, they can use that money for a down payment on their first home. Be sure to discuss with an accountant the different long-term savings options available.  

As new parents, you can provide all the TLC required for your new bundle of joy, but following these five steps will help set up you and your baby for success, no matter what life throws at you.

Photo Credit: (c) Jupiterimages / iStock via Getty Images Plus

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