How do I save for a baby?

Start saving before the baby arrives: build a buffer for medical bills (deductible costs), set aside 3 months of extra living expenses, and research your health insurance's maternity and newborn coverage. Budget for childcare early — in major cities, it can exceed $2,000/month. After birth, open a 529 college savings account and consider term life insurance. The sooner you start planning, the less financially stressful the transition.