HOW MY PARTNER AND I FINANCIALLY PLANNED FOR OUR BABY

@asap.kristy

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Why it worked

The video likely resonated with viewers due to its relatable topic of financial planning for a major life event like having a baby. The creator's transparent breakdown of costs and savings, especially highlighting that they spent less than anticipated, offers practical insights and a sense of achievable financial responsibility, making it valuable and shareable content.

Summary

The creator details how she and her partner financially planned for their baby's arrival. They researched costs for childbirth in California, medical bills, and baby essentials, estimating $20,000. They saved $10,000 each and ended up spending only $7,500 in total for the first year, including medical expenses and baby items.

Structure

1Introduction to financial planning for baby
2Researching costs of childbirth and baby essentials
3Setting savings goals and actual savings
4Calculating total expenses and comparing to savings
5Breakdown of medical and baby item costs
6Conclusion on affordability and remaining savings

Product placement

The creator discusses the costs associated with childbirth and baby items, such as cribs, strollers, clothes, diapers, and wipes. She mentions her own medical bills and insurance through her employer. No specific product is named or promoted.

On-screen text

Original caption

We saved a $20,000 baby fund for her first year prior to giving birth #firsttimemom #PersonalFinance #finance #money #baby

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HOW MY PARTNER AND I FINANCIALLY PLANNED FOR OUR BABY coming from a financially responsible 25 yr old with a $470,000+ net worth

Transcript

My partner and I financially planned for our baby who's currently 6 months old prior to her even being born. So let's kind of talk about how we did that. Prior to even being pregnant, we were researching costs of how much it costs to give birth in California, all the medical bills involved, and then we would also calculate like how much is a crib, a bassinet, you know, anything we would need for a baby. We're looking up the average cost of it. Adding that total up and in turn with all of her expenses, we figured it would be like $20k. So 10k per person is what we were saving and we would actively be saving that throughout her, you know, leading up to her birth. We were actively saving. And we had a separate fund for her, um, which I wanna say guys, we didn't even use up all the $20k that we saved for her so far. Um, and that was us assuming that's what we would need for the first year for her. Um, my medical bills, you know, including my surgery, me going for my monthly doctor visits throughout her even being born, came out to like under $5,000. So that's with me having insurance through my employer. And then as far as like how much cost for her crib, stroller, um, clothes, diapers, wipes, etc. That all came out to $2,500. So in total, we have spent $7,500 on her so far, which I feel like is pretty affordable because we were anticipating for it to be $20k. And it came out under that. So all that money that we still have for her, that's obviously for her and that's gonna go towards whatever else she may need throughout the rest of her life and then also, you know, we will have another savings fund every single year, but yeah, that's pretty much the update on how we financially prepared for having our daughter.