Fully Funded/Financially Planning for Baby

  • $65

Financially Planning for Baby

  • Course
  • 1 Lesson

Congratulations on this exciting chapter of preparing to welcome a baby into your family! Having a baby brings so much joy, and also a lot of important financial decisions. This course walks you through a few areas to consider planning in advance so you feel confident and prepared walking into new parenthood.

Jen Mayer, AFC®

Accredited Financial Counselor, Founder + CEO, Fully Funded

Jen Mayer is an Accredited Financial Counselor (AFC®), founder + CEO of Fully Funded and founder of Baby Caravan. She helps individuals, families, and solo business owners build strong financial foundations and learn ways to meet their financial goals. Prior to working in personal finance, she was a birth doula for over 15 years, and brings this lens of non-judgmental, emotional and informational support into her financial work. 

Jen’s methods are specifically anti-capitalist and tailored to neurodivergent people, self-employed folks, and people who haven’t historically been supported by financial systems and institutions. Finances are deeply personal- and there truly isn’t a one size fits all approach to managing money. Desires, needs, goals, access to money, and capacity vary from person to person, and household to household, widely. Jen is ready to meet you where you’re at.

In this Course You'll Learn:

  • How to budget for immediate baby expenses

  • Ways to protect your growing family financially

  • Strategies for balancing short-term costs with long-term goals

  • Tax benefits and savings opportunities for new parents

Course Schedule

Module 1: Preparing for Immediate Expenses

  1. Budget Shifts: Let's look at how your monthly budget might change with new ongoing costs like childcare, diapers, baby gear or medical bills.

  2. Emergency Fund Boost: Now is a good time to make sure your emergency fund can cover unexpected expenses.

  3. Health Insurance: Review your health insurance plan for medical costs and adding the baby to your health insurance coverage

  4. Parental Leave Planning: For W-2 employees: What does your employer provide in terms of maternity, paternity, or family leave benefits? For Self-Employed people and freelancers, let’s explore how to make your plan. We'll also cover state by state Paid Family Leave insurance funds.

Module 2: Protecting Your Family

  1. Life Insurance Essentials: Now that someone is depending on you, learn about the different types of life insurance and what might be best for you.

  2. Estate Planning Basics: An overview of estate planning to consider as a new parent including updating your will, adding beneficiaries and adding guardianship instructions.

Module 3: Planning for the Next Few Years 

  1. Childcare Financial Strategy: We’ll explore childcare options; daycare, a nanny, childcare share or one parent staying home. Each has financial trade-offs we can plan for.

  2. Tax Benefits and Savings: There are credits and tax-advantaged accounts, like a Dependent Care FSA, that can help offset some costs.

Module 4: Long-Term Financial Planning

  1. Education Savings Strategy: Learn options for planning ahead for children's future education costs.

  2. Your Retirement: Ways to balance your retirement savings while raising a family.

  3. Insurance Review: We can also look at whether additional coverage like disability or umbrella liability makes sense with a growing family.

Module 5: Lifestyle & Future Planning

  1. Work/Life Balance Financial Impact: If you envision adjusting your work schedule(s), let's plan financially for that.

  2. Future Family Planning: If you are thinking about having more children, this module is for you.