Having and raising children can be expensive! And with so many different products and precautions vying for our money it can be tough to know where to spend and where to save. We're thrilled to have Chelsea Brennan, founder of Smart Money Mamas and former hedge fund investor to talk about the important pieces to consider when having kids and the items most parents don't think about, but should!

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Notable Notes:

We asked Chelsea all about her insights and top tips on raising babies frugally! Here's our highlights:

• What are some costs new mom think they need to spend money on but really aren’t necessary? • Basically everything… :) • For real though, set up the nursery later - most infants will sleep in your room for the first few months anyhow! • Consider if the thing you are about to purchase will actually cause • anxiety • Beware of educational development marketing - they want your money - not to make your baby smarter • What are some costs new parents might not think about but are legitimately important? • Life insurance (for parents plan for 6-10x your salary) + Estate plan (particularly to name guardians) Trust and WillHaven LifeLadderBestow • (no exam necessary) Policy GeniusEmergency Binder • - by Smart Money Mama • Baby emergency fund • Consider night nurse/food delivery. etc. • For the things we need, what are some ways to save money. • Local buy nothing groups • Borrow from friends • FB marketplace • Mom FB groups • Thrift stores • Consignment events • What should new moms be prepared for as far as medical costs for delivery and baby well checks? • ACA often covers baby well checks • CALL INSURANCE provider to learn about coverage • Understand what your deductible is • Recognize possibility of paying deductible 2x • Options - what they cover (small perks) • Call hospital and get range of numbers • Select an office that has a set price • Consider birthing center (if healthy/non-complicated pregnancy)

BILL OF THE WEEK - Thank you Chelsea for sharing about your bill for your sit to stand desk!

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