Top 5 things to do before planning your first child

Planning for your first child is exciting as well as apprehensive. The child brings with it immense joy along with responsibilities. Your life undergoes a considerable change as you embrace parenthood.

That is why getting into parenthood requires planning. If you are prepared for the child, your transition into the next phase of life becomes smoother. So, here are five important things that you should have in place when planning for your first child –

A healthy lifestyle

This is especially relevant for the mother-to-be as she has the challenging task of conceiving the baby, carrying it to term and then delivering a healthy child. A healthy lifestyle is essential so that you prepare your body to take on the challenge of a hassle-free pregnancy.

To this effect, a healthy and balanced diet, regular exercise, mental balance and peace of mind are essential. Moreover, lifestyle habits like drinking and smoking need to be given a miss for your and your soon-to-be baby’s health. 

So, get your lifestyle on track. Change it into a healthy one so that you can conceive easily and even have a wonderful pregnancy. 

An expert’s consultation

When planning a child, consultation with a medical expert is a must. Visit an Ob/Gyn for a consultation. Undergo all the diagnostic tests that the doctor recommends to assess your health. The doctor would also advise you about the dos and don’ts of pregnancy which you can use as a reference point when planning for the child.

Financial stability 

Pregnancy and raising a child involve a lot of money. That is why financial stability is a must. You need to take stock of your incomes and expenses. Find out how much you manage to save every month and if the addition of a child would strain your budget or not. If you barely manage to scrape by, you need to look at additional sources of income to supplement your income so that, after deducting your expenses, you have a considerable surplus that you can use towards raising your child.

Also, try and pay up your debts to free up your income. Spend within your means and cut down on unnecessary expenses. 

Savings 

After taking stock of your finances, take stock of your savings and existing investments. It is recommended to have existing financial assets so that you can pay for big expenses. 

If you have existing savings, assess their sufficiency. Try and supplement them with more investments so that you can create a good corpus for your child’s needs. 

If, however, you don’t have existing savings, start saving up. You would need funds in the journey of parenthood. Start keeping aside small amounts every month and invest it in a suitable investment avenue to earn returns on investments.

Health insurance 

Lastly, a health insurance plan is a must, especially one with maternity coverage. While health insurance plans pay for medical emergencies, they also help you tackle the expenses of pregnancy and childbirth if the plan offers maternity cover. So, with a health plan, you can manage the expenses of delivery. 

When buying a health plan, choose a policy early on because the maternity coverage would have a waiting period which might range from 9 months to 4 years. So, when you buy early, you can wait out the waiting period and then avail of coverage for maternity when you conceive. Also, opt for an optimal sum insured so that you get higher limits on delivery coverage. 

Look for plans that offer inclusive maternity coverage with a scope of covering prenatal and postnatal expenses, newborn child, complicated deliveries, first-year vaccinations of the child, etc. This would give you complete coverage and minimise your out-of-pocket expenses.

Conceiving a child, delivering and then raising it are challenging tasks. It involves considerable resources, both financial and emotional. So, follow these tips and lay down the foundation for your first child. Prepare yourself emotionally and financially so that you can welcome your bundle of joy with nothing but mirth in your heart. To know more check http://blog.oneassure.in