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Here are tips to get financially healthy to have a child

Posted at 6:54 AM, Sep 10, 2019
and last updated 2019-09-10 07:55:01-04

You think about making a baby, having a baby, raising that baby, but have you thought about the cost of that baby?

Nearly two-thirds of Americans can’t pass a basic financial literacy test. And the average debt in households is more than $135,000.

You have the crib, the high chair and the diapers, but that is just the beginning. It costs more than $230,000 to raise a child until they are 17, according to the USDA.

Only about one in 10 Americans check every financial heath box, which includes retirement savings, emergency funds and protections, according to

If a baby is in that plan? First step: says you also need to look into maternity and paternity leave to find out if you need more unpaid time. suggests getting a computer program such as Quicken, Moneydance or Acemoney to help you budget your expenses.

Also, take into account your spouse’s needs such as check-ups, prenatal vitamins and the delivery itself, which costs on average more than $6,000.

When the baby comes, be sure to take into account the expense of insurance. It costs nearly an extra $200 to $450 a month for the insurance coverage of your newborn.