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9 steps to preparing for parenthood

Month 1: Make a list of financial priorities
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Is extended time at home with the baby key for you? How about a pricey or exclusive day care center?

Determine the goals you're looking to accomplish by the time the baby arrives. Being on the same page with a partner is the key to a smooth pregnancy and first year of parenthood.

"Communication, clarification of values and negotiation may play out here just as they do in other aspects of a relationship," Greenfield says. "The more the couple talks ahead of time, the better they can anticipate the glitches."

However, keep in mind that these goals might change as the pregnancy progresses, says Jennifer Lane, a Certified Financial Planner and president of Compass Planning Associates in Boston.

"Oftentimes people, after being home with their baby -- they thought they wanted to go back to work earlier, but now that they've been home for a while they would like to stretch their maternity leave," Lane says.


 

 

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