(BPT) - Have you ever heard the saying that "babies don't come with owner's manuals"? It's true that no matter how many books you read, classes you take, or experienced parents you talk to, you can never be completely prepared for the challenges and joys of parenthood. You can, however, prepare yourself for the costs of a new baby - by looking after your finances before your bundle arrives.
New parents don't always prepare for the expenses associated with having a baby. One survey by Redbook Magazine and VISA found that less than 50 percent of expectant parents create a new budget that includes baby expenses. And while 76 percent of parents-to-be felt financially prepared for a baby, after the tyke arrived, 41 percent of new parents said they weren't as prepared as they had thought.
Taking steps like clipping coupons and buying secondhand clothes can help new parents save cash, but other important financial considerations - such as protecting their credit scores - require advanced planning. Here are some tips to help expectant and new parents to look after their finances:
Before the baby arrives
When you're new parents
While nothing can really prepare you for the agony of sleepless nights with a newborn or the joys of seeing your baby take his or her first steps, it is possible to prepare for the financial responsibilities associated with becoming a parent.
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