When couples learn they are expecting a baby, there is normally an immediate rush to begin preparations for the happy arrival. Typical preparations can include everything from reading pregnancy guides, taking birthing and infant care classes, completing a baby registry or decorating a nursery. One important but sometimes overlooked aspect to planning for a new baby is to assess and adjust your current financial situation and future financial goals.

For many expectant couples, there is often discussion about how the child will be cared for, either by a stay-at-home parent or at a reputable and nearby daycare center if both parents will work full-time. As the cost of raising a child grows each year, it is important to understand the immediate and long-term childcare costs ahead of time so parents can be well prepared. Making wise financial plans early helps promote peace, confidence and enjoyment throughout the pregnancy and after welcoming the child home.

While a new baby will often result in immediate changes in spending and saving habits, it also impacts financial goals and protection for the future. New or expectant parents can prepare themselves and their children for the future and any major life events by getting comprehensive insurance coverage. Good insurance coverage for your family, home, automobiles and possessions provides much needed protection and allows for a faster recovery if disaster strikes.

Many couples find themselves in need of either larger or newer vehicles with better safety features once a child is on the way. Along with upgrading automobiles, new parents should also review and upgrade their auto insurance coverage to ensure they are completely protected from all potential car issues or events. Some couples start off with the very minimum state-required insurance coverage, but later realize they need more auto protection as they have children.  Since Houston is a commuter city, it is critical to be well insured with good auto coverage since children will have to spend time in a vehicle to get anywhere in the city.

In addition to reviewing auto insurance coverage, new or expectant parents should also review their renters insurance or homeowners insurance since new babies require many costly items for their care, including a crib, nursery furniture, car seat, stroller, playpen, clothing, high chair, baby monitors, etc. Existing renters or homeowners insurance should be adjusted to reflect for the many pieces of baby gear, furniture, clothing and other keepsakes that should be insured in the event they need to be quickly replaced due to flooding, fire or other catastrophes.

Finally, the most important piece of financial planning for your growing family is ensuring you have sufficient life insurance coverage for each member of your family. While it might not be easy to think about losing a family member, it is absolutely critical to ensure that the family can take care of necessary arrangements and will be provided for in the years to come. It is especially important to have good life insurance coverage for the main wage earners of the family since replacing lost income can be very difficult, particularly when there are multiple children to care for. Life insurance can give growing families assurance that if disaster strikes, the surviving family members will able to take care of any outstanding debt, mortgage balances, college funds and other needs in the future.

If you are new parents, expectant parents, or a growing family, then it is beneficial to give your family the peace of mind and protection they deserve with comprehensive insurance coverage. Aegis, a Houston-based insurance agency, is in the business of helping Texas families by offering affordable, quality insurance policy solutions. The knowledgeable and friendly agents of Aegis are happy to help families by reviewing their current insurance needs, answering any insurance coverage or policy questions, and reduce overall insurance costs by offering bundled insurance packages for maximum yearly savings. By bundling insurance policies together, this saves families significant time, energy and money. Set your family on the path to peace and security for the future by contacting Aegis for all your insurance needs today.  Contact Aegis for more information to get your family on the path to financial peace.