Unexpected Costs of Having a Baby

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Unexpected Costs of Having a Baby

July and August are the two most popular months of the year for having a baby. While a baby brings great joy and love to their family, having a baby can also add stress to your finances. These days, many parents are spending roughly $12,000 on their baby in its first year alone. From doctor’s expenses to furniture and supplies, having a baby is certainly not easy on your bank account. Alpine Bank wants to help you prepare your finances so that you can fully enjoy being a new parent when your baby arrives. Consider these unexpected costs of having a baby when you prepare your finances for your bundle of joy this month: Unexpected Doctor’s Visits – You can plan for the required two week and two month check-ups, but you can’t predict when your newborn is going to get an ear infection or when you need to buy formula because breast-feeding just isn’t working. Consider saving extra cash for these unplanned doctor visits and medical requirements to prevent you from using money that you originally planned on saving for something else. Unexpected Loss of Space – For as tiny and precious as a newborn baby is, their supplies and furniture can take up a lot of space in your home. If you feel like you need to move to a bigger home before baby arrives, make sure you set up your finances accordingly and explore the mortgage options offered by Alpine Bank. Remodeling is also an option to create more space in your home. Unexpected Utility Bills - Other than the potential costs of buying a new home or making remodels, you can expect a change in your utility bills as well. You will most likely find yourself doing more laundry and running the dishwasher more often after baby arrives which directly causes an increase in your utility bill. Especially in the hot months of July and August, you may be needing to crank up the air conditioning to stay comfortable with your new baby. The best way to prepare your finances for your new baby is to plan ahead for all of the unexpected costs. Set aside the money you need for your new baby with a savings account from Alpine Bank. For more information, stop by or give us a call today!

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