Babies come with a cost. You want your little one to be healthy and merry when they arrive and hence, do not hesitate to shell out money when asked for. Although it is important and even necessary to spend in some cases, some costs might not be foreseen to new parents and may flabbergast them at times.
There are many financial issues that parents overlook simply because they have no knowledge of their existence. It becomes all the more important in such cases to consider taking advice from someone who has already been through the process and knows the costs involved.
Here are some financial issues that pop up after a baby.
1. Delivery charges
Depending on what type of delivery you choose to have, the costs are varied. A normal delivery and a caesarian have an enormous difference in terms of costs. Even if you do consider the costs of delivery, most parents-to-be forget to take into consideration miscellaneous medical expenses such as that of medicines or injections that doctors tell you to buy on short notice.
2. Health insurance coverage
Parents might be under the impression that a health insurance covers all medical expenses, but this is not necessarily true. Insurance companies are meticulous and want to make sure that they do not pay a dime more than what is absolutely necessary. In such cases, parents have to bear some costs on their own.
3. Baby shopping
Babies come with an entire package of demands, whether it is diapers or any other contingencies such as formula. Parents should make sure that they do not shop too much before the arrival of their baby to make sure that they only buy what it necessary after their little one arrives.
4. Unpaid leave
Although many companies are now generous, with at least maternity leaves, paternity leaves might not be easy to come by. So, parents ought to get ready to take unpaid leaves because it is not easy for just one parent to nurse the baby.
If both parents are working, it is most likely that they will hire a nanny to look after the baby after a while. Childcare is an incredible responsibility and comes with a great cost. Parents often do not understand this aspect while calculating costs, and later face major financial problems.
This might be the most trivial aspect and most parents will not even consider considering it. After giving birth, you use more electricity, you use more water for cleaning purposes and your grocery bill increases too. These small aspects go on to add up to a big amount, which you tend to not realise.
Whether it is counselling after delivery or counselling couples, it comes with a cost and adds on to the finances of the family. Most couples think that they would not require counselling and hence, fail to calculate this aspect. More often than not, babies, being sensitive to the smallest of things, fall sick and require a consultant or paediatrician. Even couples, at times, require counselling because handling a baby without much outside help can be extremely stressful.