This may mean upgrading your space to accommodate your little one, or maybe even buying a home of your own instead of continuing to rent.
From diapers and formula to toys and clothes, your budget is going to need to be adjusted to accommodate for the costs associated with caring for another person. You will also need to add your new family member to an insurance plan, which may mean upgrading to a family plan that costs more money.
Ensure you are aware of the expenses that you will be responsible for covering and what your insurance will cover. You will also want to check that your provider is in-network so that you will not be charged higher rates that are often associated with out-of-network providers.
Whether you will be out of work for a few weeks or taking a longer leave of absence, you will likely need to anticipate that your income will take a hit temporarily. Set enough money aside to ensure monthly bills and expenses will be covered. And, if you are planning for a growing family with enough advance warning, you may even be able to leverage your savings with an account that offers greater interest-earning benefits.
Setting money aside for your child’s education early and often can make a significant difference for the amount that you can save over time. A major benefit of opening an Educational Savings Account is that contributions are tax-free*.
Your financial goals are sure to evolve as you become parents. Savings accounts with American Heritage can help you reach these goals and receiving earnings on top of your funds.
From High-Yield Savings to Money Market accounts and more, you'll earn some of the best savings rates in the region with American Heritage and be confident that you're making the most of your money for your family's future.
Youth AccountsAs you welcome your new child, get them started on the right financial foot with our Youth Account options!
We're proud to offer accounts that will mature along with your child. The early accounts are a perfect way for family members to help you save, while the later accounts are an excellent option for teaching your child about managing money.
Even if you were born yesterday, that's no excuse to not start saving today!
We know how expensive raising a child can be! Don't miss out on these great discounts you can take advantage of as a member of American Heritage!
Whether it's tickets to local attractions like The Philadelphia Zoo or Morey's Piers in Wildwood, or discounts on rental cars, there's something for everyone.
*The information offered is not intended as tax advice. Please consult a tax professional for specific information regarding your individual situation.
