Your financial checklist,
sorted by what matters now.

You have 30 days from birth to add your baby to an employer plan, or 60 days on a marketplace (ACA) plan. Miss the window and you'll likely wait until the next open enrollment.

This is usually handled at the hospital: you check a box on the birth paperwork and they submit the application for you. Confirm it was actually filed — you need the SSN to claim the Child Tax Credit, open a 529, and freeze your child's credit.

The hospital files the initial record, but you'll need certified copies for insurance, passports, Social Security, and legal purposes. Order 5–10 copies from your state's vital records office.

Daycare waitlists run 6–18 months in most cities. The earlier you reach out, the better. Factor the cost into your budget — infant care runs roughly $10,000–$35,000 a year, depending on your state.

If someone depends on your income, life insurance is one of the most important things you can put in place after having a baby. Rates are lowest when you're young and healthy — worth comparing options sooner rather than later.

Without a will, a court decides who raises your child. Naming a guardian is the most important provision in the document.

Life insurance, 401(k), IRA, bank accounts — beneficiary designations override your will. Worth reviewing soon after a new addition to the family.

File a new W4 with your employer to adjust your withholding for the Child Tax Credit — otherwise you're giving the IRS an interest-free loan all year. If your state has paid family leave, note that PFL payments are often taxable but paid without withholding, so you may owe at tax time.

Hospital billing errors are common. Request an itemized bill and compare it to your EOB from insurance. The federal No Surprises Act protects you from most out-of-network surprise bills for care at an in-network facility — so if an anesthesiologist or neonatologist you didn't choose bills you out-of-network, dispute it; for other charges, many hospitals will negotiate if you push.

Children are a top target for identity theft — their clean credit file sits unused for years. Once the Social Security card arrives, freeze it at all three bureaus: Equifax, Experian, and TransUnion. It's free, but for minors the bureaus usually want copies of the birth certificate and SSN card by mail, so give it a few weeks.

Most states offer a tax deduction (not a credit) on contributions to their own plan — check yours first, but don't assume it's the best option. If your state's fees are high or fund choices limited, an out-of-state plan (Ohio and Nevada are commonly recommended) can be worth more than the deduction. Open with as little as $25.

Only applies if you're on an HSA-eligible high-deductible health plan. If adding baby moves you to family coverage, your contribution limit goes up — worth raising your payroll contribution to match. Triple tax benefit: pre-tax contributions, tax-free growth, tax-free withdrawals for medical expenses.

You're more likely to become disabled than to die young. Most employer plans cover 60% of salary — often not enough. Check what you have and consider a supplemental policy.

An ER copay, a surprise bill, unpaid sick days — none give notice. Cash set aside turns each into an annoyance, not credit card debt.

If your child was born between January 2025 and December 2028, they qualify for a one-time $1,000 deposit from the federal government into a Trump Account — invested automatically in an S&P 500 index fund and locked until they turn 18. Open one free through TrumpAccounts.gov, IRS Form 4547, or by asking about it when you register your baby's Social Security number at the hospital. Family and friends can contribute up to $5,000 a year on top of the government deposit.

At open enrollment, elect Dependent Care FSA — starting in 2026, up to $7,500 pre-tax per household for childcare ($3,750 if married filing separately). Covers daycare, preschool, after-school programs. Note: your employer can reduce the limit if the plan doesn't pass nondiscrimination testing, but most employees are unaffected.

Up to $2,200 per child, partially refundable. Make sure your tax preparer or software applies it. If you pay for childcare, also check the Child and Dependent Care Credit, which got bigger starting in 2026.

A bad at-fault crash can reach past your policy into the savings your kid now depends on. Keep liability limits well above the state minimum.

Pediatric dentists recommend a first visit by age 1. The catch: waitlists at pediatric dental offices routinely run 2–3 months. Call around month 8–9, not month 11. Most dental insurance covers it fully.

A custodial account lets you invest in your child's name with no contribution limits and no restrictions on what the money is used for. Two catches: the money counts as your child's asset for financial aid, which cuts aid far more than a parent-owned 529, and earnings above a small threshold are taxed under the kiddie tax. Best as a complement to a 529, not a replacement.

Diapers and copays are small; childcare, which can run $10,000–$35,000 a year, is not. Budget around the real number now instead of discovering it in month three.

Your will is a legal document. A letter of instruction is a human one — where accounts are, who to call, passwords, wishes. Keep it with your will.

The crib, stroller, and car seat add up to real money. Make sure your policy covers them, and check liability limits too.

Every spare dollar wants to go to your kid now. But college can be borrowed for and retirement can't, so keep even $50/month growing tax-free for you. Income limits apply, so check that you qualify.