Month 7: Start a savings account for the baby8 of 11Many women host baby showers early in the third trimester. Many expectant mothers find that additional baby accessories and gifts aren't needed, especially if this is the second or third child.Instead, says Lane, ask for financial gifts that can be used to fund a savings account for the child."Tell your family members, 'We've got this savings account set aside and when the baby's born, we'll put that money in a college account for them,'" Lane says. Related Articles:7 ways to save on baby costsTalking finances with the kidsFrugal summer fun10 hot toys for under $20Related Links:Can you afford private school?How secure is life insurance?4 ways to trim health costs today10 best work-at-home jobs advertisement
Many women host baby showers early in the third trimester. Many expectant mothers find that additional baby accessories and gifts aren't needed, especially if this is the second or third child.
Instead, says Lane, ask for financial gifts that can be used to fund a savings account for the child.
"Tell your family members, 'We've got this savings account set aside and when the baby's born, we'll put that money in a college account for them,'" Lane says.