Pre-baby money checklist

Do this before the third-trimester fog. The aim is a visible leave runway and fewer panic purchases — not a perfect spreadsheet. Figures should be ranges. Confirm tax and benefits details with HR or a professional; this is not tax advice. State and employer rules vary.

Checklist

Snapshot (one evening)

• List monthly take-home for each adult (use recent pay stubs)
• List fixed costs: housing, utilities, insurance, debt minimums, transport
• Note high-deductible medical exposure left this year (range)
• Write emergency fund balance and months of fixed costs it covers
• List debts with rates (know which is expensive vs cheap)

Leave runway

• Inventory paid leave, STD, state leave, and PTO for each parent
• Estimate leave take-home as a monthly range (include premium deductions)
• Calculate monthly gap = usual take-home − leave take-home
• Name the account that covers the gap; set automatic transfers while still working
• Partner leave: model both overlap and sequential cash-flow versions

Insurance and beneficiaries

• Health plan: note deductible, out-of-pocket max, and newborn enrollment deadline
• Disability insurance: employer STD terms; consider gaps if self-employed (if applicable)
• Life insurance: start a term coverage discussion if someone depends on your income (see term life for new parents)
• Beneficiaries updated on retirement, life, and bank TOD/POD where used
• HSA/FSA: know leave contribution and claim rules for your plan (if applicable)

Must-buy vs wait-to-buy

• Must before birth: safe car seat, safe sleep surface, feeding-plan supplies
• Wait if possible: gear that depends on baby size or preferences
• Set a hard registry / shopping budget number both adults accept
• Check what local parents sell used in good safety condition (verify recalls)
• Agree: no purchase over a set amount without a 48-hour wait in the last pregnancy month

Childcare preview and documents folder

• Get 2–3 infant care quotes (center and/or home daycare)
• Put a median quote into the post-leave monthly budget as a placeholder
• Ask employers about dependent care FSA or backup care benefits
• Gather into one folder: recent pay stubs, leave/STD PDFs, insurance cards, lease/mortgage, beneficiary confirmations
• Schedule a 30-minute money check-in for two weeks after return to work