There are two money moves every parent should make before having kids

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January 18, 2017 5:21 AM

Between preparing the nursery, reading all the right books, and stocking up on bottles and onesies, the checklist of what parents need to do to prepare for a new baby is long.

But it's crucial not to forget getting their finances in order as well.

Business Insider recently asked parents to weigh in on the financial side of having kids. When asked what they'd tell new parents to do with their money before having their first child, respondents overwhelmingly said two things: travel and save more.

It's no surprise that bulking up savings topped the list: T$11,000 just in the first year $250,000 by the time they're 18

And even though parents are saving more than ever for college, they're still coming up short. According to Fidelity's 10-Year College Progress Report, nearly half of all parents admit feeling off-course to reach their target amount before their child packs up for freshman year.

Several respondents also encouraged traveling and soaking up life as a couple one last time before starting a family. "E

Below, we've anonymously highlighted 11 of the best responses of what real parents suggest doing with your money before having your first kid Note: Responses have been edited for length and clarity.:

Save! There are a lot of expenses that come with pregnancy and delivery, and with adoption, too, if you're going that route. You need to save for those expenses. You're also responsible for another human being now. That means you need to create more financial security and stability. So you need a bigger emergency fund than you'd need without kids. Definitely start planning and saving an extra two or more months' worth of expenses in your emergency fund."
"
et up a savings account just for college. Sit down together and discuss your values on money and what you each feel your kids participate in. i.e. what is really necessary and what is just marketing."

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