Having a Baby Preparing for the pitter-patter of little feet can be such an exciting, hectic time that it can be easy to overlook some of the more serious issues relating to this event. As soon as you start your family, financial planning for the future becomes even more essential. How will you finance child care, medical bills, food, education, clothing, toys, and education savings? What will you need to spend money on and how much will each item cost? It's important to take the ongoing costs associated with starting and raising a family into consideration. To get you started, here are some of the things you'll need to factor into your financial planning. Doctor and Hospital expenses Nursery furnishings Baby supplies and equipment Formula Child Care Health Care Toys and Clothes Pre-School and Schooling costs Extra curricular activities ie: Ballet classes, camps, sporting events and equipment Doctor and medical expenses Increased insurance