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Preparing for that next chapter in your life? Long before the bump makes your news obvious, you and your significant other will be creating a “master plan” on how to raise a child and financially plan for their future.

Now, what does this “master plan” consist of? Is it a list of things to do before the baby arrives? Or, is it a list of pediatricians and daycares that your new bundle of joy will be signed up for? To be honest, there is no “master plan” on how to prepare for your first child, but there are ways to help make the transition into “parenthood” a smooth one.

Belonging to a stable financial institution will make this time even brighter for new parents to be! Whether you are preparing for the near future like day-cares and pre-schools, or the distant future where college funds come into play – your local credit union is a great resource during the parenthood journey.

At AmeriChoice, we encourage financial awareness for all ages, and it’s even better to plant a financial seed in a young mind and watch it grow over the years. Our Dollar Dog Kids Club provides a fun way for children to learn, save, and take part in the many educational events we hold throughout the year.

According to the latest annual “Cost of Raising a Child” report from the U.S Department of Agriculture, the average cost of raising a child up until age 18 in the U.S is approximately $245,340.

The first thing to do is begin planning for childcare expenses as soon as possible. Locating a full or part-time childcare service for working parents can be surprisingly expensive and difficult to obtain. Planning ahead will not only give you peace of mind, but it will make you an expert for when you start looking into schools for your littler one.

Prepare for your baby, but prepare with a rational mind. Of course you’re going to get “baby fever” and want to buy the latest and greatest baby gadgetry – but sticking to timeless, basic products that will add more value to your dollar will completely suffice!

Having financial goals for your child and yourself are equally important. Prospective parents should come dedicated bargain hunters and savers, with an equal focus on handling childcare expenses and supporting retirement goals.

It pays to plan ahead. Reach out to friends and family, or contact your local credit union for help from the experts!