1. Daycare Expenses Are Essentially a Second Mortgage
The sticker shock of that first daycare invoice is something that I’ll never forget. I gazed at the amount for so long that I was certain that my coffee had gone cold. No one prepares you for the reality that high-quality childcare may run more than your rent or auto payment. And heaven forbid you want to go back to work full-time. It is not a choice. If I had known, I would have been saved the moment the pregnancy test came back positive.
2. Your Grocery Budget Is Going to Explode (and That’s Fine)
The first feeding is simple—breastfeeding or formula. Then, once they begin solids, the feeding is like catering to a small food critic who has a different taste every other day. I progressed from buying modestly at the supermarket to purchasing star-shaped organic snacks and countless “just in case” meals for toddlers. Had I budgeted more practically rather than striving for Pinterest perfection, I’d have avoided a lot of stress.
3. Budgeting Isn’t Only Wise—It’s Survival
Prior to children, budgeting was discretionary. Subsequent to children? Building a map to survive the month without losing sanity. You won’t require spreadsheets or colored charts—just a process that keeps the basics paid for and provides a small buffer. I learned the hard way that “I’ll just keep this in my head” does not fly when you are running on minimal sleep and bargaining with a three-year-old.
4. The “Emergency” Fund Isn’t Just for Car Trouble
You believe an emergency is a flat tire or an unexpected dental bill—until your toddler leaps from the sofa and breaks their arm. Or the fridge breaks down next week when you’ve already spent your budget to the limit. The unexpected is certain with children and oftentimes with a receipt. If I had put a serious emergency fund in place sooner, those situations would have been a lot less daunting.
You believe an emergency is a flat tire or an unexpected dental bill—until your toddler leaps from the sofa and breaks their arm. Or the fridge breaks down next week when you’ve already spent your budget to the limit. The unexpected is certain with children and oftentimes with a receipt. If I had put a serious emergency fund in place sooner, those situations would have been a lot less daunting.
5. Future Education Expenses Are More Manageable If You Begin Early
This came on suddenly. Amid diapers, baby equipment, and sheer parental pandemonium, college planning seems like planning a wedding at preschool age. But putting even little bits away early can have a massive payoff later on. RESPs are a good way to save without having to feel like you are depriving yourself now. I wish someone had, at some point along the journey of learning how to get a baby to sleep, quietly encouraged that.
One of the first things parenthood teaches you is that your money has to work harder—and smarter. Nobody does this flawlessly, but you’re going to learn some things along the way. But beginning with a small amount of information (and an awful lot of compassion for yourself) can at least ease the way ahead. Although the madness is genuine, so is the joy, and getting the finances in order makes the ride a whole lot more enjoyable.
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