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Stage 06 · Life-stage hub
New Parents / Growing Family
Your family's financial foundation
Congratulations on the new addition to your family! A baby changes everything -- including your finances. Whether you are planning ahead or already in the thick of diapers and doctor visits, this hub gives you the tools and guides to build a financial foundation that works for your growing family.
Start the roadmap§ The roadmap
Your New Parents / Growing Family toolkit
Learn the concept, then run the numbers — each step pairs a plain-English guide with the calculator that puts it to work.
§ Required reading
The guides behind the math
5 min read
How Much Does It Cost to Raise a Child in 2026?
A realistic year-by-year breakdown of the costs of raising a child from birth to age 18, with strategies to manage expenses at every stage.
6 min read
New Parent Financial Checklist: Before and After Baby
A complete financial checklist for new parents covering hospital costs, health insurance changes, life insurance, beneficiary updates, baby budgets, and 529 savings plans.
§ Numbers to know
What this stage holds
A quick snapshot of everything mapped out for this life stage.
Calculators
Guides
Next stages
§ Smart moves
Quick tips for this stage
Update your health insurance now
A new baby is a qualifying life event. You have 30-60 days to add your child to your plan -- don't miss the window.
Start a 529 plan early
Even small contributions grow significantly over 18 years. Starting at birth gives compound interest maximum time to work.
Update your beneficiaries
Review life insurance, retirement accounts, and bank accounts to make sure your child is protected.
Build a baby emergency fund
Kids bring unexpected expenses. Aim for an extra $1,000-2,000 on top of your regular emergency fund for pediatric visits, gear, and surprises.