The New Parent’s Guide to Taking Control of Your Money

Farnoosh Torabi

The rewards of parenthood are priceless. The opportunity to have your own child, raise a family, and be a role model is simply extraordinary. Overnight you become the most entrusted and needed person on the planet and—while it is overwhelming, life-altering, tiring (10% of new parents sleep an average 2.5 hours straight per night¹) and nerve-wracking at times―you couldn’t imagine life any other way.

While preparing for the birth of your newborn and tending to him or her in the first year, between late night feedings and juggling your work and home life, it’s easy to get swept away, both emotionally and financially.

Let’s review the general financial picture of a first-time ...