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Financial planning for expecting parents

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If you are about to be a new parent, you have a lot to figure out, and for many parents, the financial preparation that comes with having a new child is one that they did not prepare for. Making the right money moves when expecting a child can save you the pressures of adjusting when the baby arrives.

Below, are some of the financial planning and emergency saving tips that can help you;

Amend your household planning

According to statistics, the average cost of bringing a child is as follows; for one year, you’ll spend Ksh 72,000 to Ksh100,000. This translates to roughly 1.8 million Kenya shillings for 18 years. Depending on your annual income, your child’s first year could cost more and those costs will only increase.

Having these in mind, it is important to examine your income and spending now. Pull out current bank statements, and gauge your pay to your current expenses. Next, forecast future family expenses including housing.

Do away with extra expenses, reduce recurring living costs such as rent or phone bills, find ways to earn more income or research options to fit child care into your budget.

Take the pre-arrival period as a trial run for your new-baby budget by living on your adjusted budget, then use leftover funds for baby-related purchases or savings.

Photo by Ashraf Ali on Unsplash

Budget your parental leave

The labour laws  provide parents with up to twelve weeks off after a child is born, this can be paid or unpaid. Check your employer’s policy on paid parental leave, and start saving to replace your income while you’re on parental leave.

Finance your emergency savings

A sufficient financial plan ensures that you can cater for  unexpected financial hardships, including unemployment, medical emergencies, and loss of child care.

A well-maintained emergency savings account falls somewhere between two and five months of living expenses. A three-month emergency fund is reasonable for dual-income earners.

Image: The Kenyan Wall street

Reconsider your health Insurance

With a newborn on the way, it is a good time to revisit your health insurance plans such as in-network health care providers, deductibles, co-pays, coinsurance, and out-of-pocket maximums. Visit your insurer to clarify how costs are covered and ask about programs that offer additional financial or health support to expecting parents. If necessary, you could also lower out-of-pocket costs by changing plans during open enrollment.

Remember, many plans don’t include maternity coverage for dependent children. You could end up paying out of pocket for prenatal and maternity medical expenses.

SEE ALSO: Paternity leave: How new dads can make the most of it

Clear your debts

The biggest financial headache for most families is debt. Doing away with debts and other liabilities help you to increase financial security and free up cash for building wealth and supporting your family.

6 things your child’s teacher wishes you knew
Teachers play an important role in shaping your child’s future. However, this should not be reason for you to abandon your place as a parent in your child’s life.

Save for the Future

Save, save, save. Plan for your retirement, children’s education, health etc

Photo by Joslyn Pickens from Pexels

Organize Your Finances

Some end of life decisions need to be made very early, a written will gives you the power to decide how your child will receive assets and be cared for. Add your child as a beneficiary to existing bank and investment accounts and insurance plans, but don’t neglect to name a guardian to manage these finances for them until they reach the age of majority.

5 ways to make bath time enjoyable for toddlers
When it comes to bathing a toddler, it is prudent to make it as interesting as any other activity that excites them like jumping in rain puddles.

Bottom-line

Giving your children a financial head start in life is good for their well being, behaviour and health outcomes both today and in the future. It provides them with security and financial literacy as well.

Meet Jackie Musyoka who is equipping slum kids for success |Celebrating our heroes| Parents Magazine
Right in the middle of a slum, somewhere in Tassia, embakasi, is a school called ‘Beyond the vision’. Here, children born and bred in the slums, most having …

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Cover Story

Elizabeth Nzisa: The Firstborn Who Became a Mother Overnight

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While most teenagers spend their days focused on school, friendships, and dreams for the future, Elizabeth Nzisa, fondly known as Shiku, was forced to grow up much faster than she ever imagined. At only 17 years old, she found herself taking on the role of a mother to her three younger siblings after her family was hit by tragedy not once, but twice.

Her story, shared in an emotional interview, is a powerful reflection of strength, sacrifice and the deep bond between siblings. Elizabeth recalls the moment her life changed completely. Her mother died while giving birth to their youngest sibling, a baby boy. In the middle of that painful loss, their father walked away from the family, leaving Elizabeth alone with a newborn and two other young children to care for.

Mama yetu alipass 2024, Feb. Alipass akipata haka katoto kadogo. Dad naye akatuacha akaenda

 

Becoming a Mother Too Soon

She explains that she had no choice but to step up and become the parent in the house. She raised her youngest brother from the day he was born, and to this day he calls her mum, not knowing she is actually his big sister. That detail alone shows how much responsibility she carried at such a young age. She became the provider, the protector, the caregiver, and the emotional support for her siblings while she was still trying to understand life herself. With little help from relatives, Elizabeth had to find ways to survive, balancing school when she could, doing small jobs and making sure her siblings were fed, safe and loved.

The journey was not easy. She faced financial struggles, emotional exhaustion, and the pressure of trying to stay strong even when she felt overwhelmed. There were moments when she doubted herself and wondered if she was doing enough. Still, her story is not about defeat. It is about endurance. Elizabeth talks about finding strength through faith, support from the people around her, and the determination to keep her family together no matter how hard things became.

Over the years, she made sure her siblings stayed in school, had food on the table, and grew up feeling loved despite everything they had lost. What could have been a completely broken home became a family held together by her sacrifice and commitment.

Many viewers reacted emotionally, saying the story moved them to tears. Some described firstborn daughters as second mothers, while others said her life shows the kind of courage people rarely see but should never forget.

 

Click here to read our March issue 2026

Continue Reading

Cover Story

Elizabeth Nzisa: The Firstborn Who Became a Mother Overnight

Published

on

While most teenagers spend their days focused on school, friendships, and dreams for the future, Elizabeth Nzisa, fondly known as Shiku, was forced to grow up much faster than she ever imagined. At only 17 years old, she found herself taking on the role of a mother to her three younger siblings after her family was hit by tragedy not once, but twice.

Her story, shared in an emotional interview, is a powerful reflection of strength, sacrifice and the deep bond between siblings. Elizabeth recalls the moment her life changed completely. Her mother died while giving birth to their youngest sibling, a baby boy. In the middle of that painful loss, their father walked away from the family, leaving Elizabeth alone with a newborn and two other young children to care for.

Mama yetu alipass 2024, Feb. Alipass akipata haka katoto kadogo. Dad naye akatuacha akaenda

 

Becoming a Mother Too Soon

She explains that she had no choice but to step up and become the parent in the house. She raised her youngest brother from the day he was born, and to this day he calls her mum, not knowing she is actually his big sister. That detail alone shows how much responsibility she carried at such a young age. She became the provider, the protector, the caregiver, and the emotional support for her siblings while she was still trying to understand life herself. With little help from relatives, Elizabeth had to find ways to survive, balancing school when she could, doing small jobs and making sure her siblings were fed, safe and loved.

The journey was not easy. She faced financial struggles, emotional exhaustion, and the pressure of trying to stay strong even when she felt overwhelmed. There were moments when she doubted herself and wondered if she was doing enough. Still, her story is not about defeat. It is about endurance. Elizabeth talks about finding strength through faith, support from the people around her, and the determination to keep her family together no matter how hard things became.

Over the years, she made sure her siblings stayed in school, had food on the table, and grew up feeling loved despite everything they had lost. What could have been a completely broken home became a family held together by her sacrifice and commitment.

Many viewers reacted emotionally, saying the story moved them to tears. Some described firstborn daughters as second mothers, while others said her life shows the kind of courage people rarely see but should never forget.

 

Click here to read our March issue 2026

Continue Reading

Cover Story

Endometriosis and sex: How to make intimacy pain-free

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There is no doubt that endometriosis can affect a woman’s way of life. The condition slews a couple of conditions, painful sex being one of them. Penetration pulls and pushes any tissue growth behind the vagina and lower uterus.

Although symptoms may differ from woman to woman, here are some things you can do to lessen your pain and ensure you have some good time:

Take a dose of painkillers

Take an over the counter painkiller that sits well with your body before intercourse and incase pain persists, take another one as prescribed.

Track your cycle and try at certain times of the month

Most women with endometriosis experience excruciating pain during their period and ovulation. Keep track of your cycle so that you can know when you are ovulating. You can use apps like my calendar and flo period tracker to track your periods. This will help you know when best to engage in sexual intercourse.

READ ALSO: Crucial Facts About Endometriosis Everyone Should Know About

Use lube

Vaginal dryness is not something to be ashamed of and if you happen to have it, lube should be your best buddy. Make sure to use any silicon or water based lubricant anytime you feel like your vagina is dry. Ensure the application is of good amount to achieve a wet area.

Explore alternatives

Talk with your partner about things that turn you on and bring you pleasure. Just to mention a few; mutual masturbation, foreplay, kissing and mutual fondling. Sex does not have to mean intercourse.

Try different positions

Experimenting different positions can teach you and your partner which ones hurt and the ones that bring direct pleasure with no or less pain. Positions that are considered better vary from person to person so take the time to explore and learn yourself with your partner.

Find the right rhythm

Finding the right rhythm can help you experience less discomfort during sex. Quick thrusting or deep penetration can aggravate pain. Talk to your partner about that which you do not like and find ways that will satisfy the both of you like exchanging positions so that you can control the speed and rhythm.

Bottom line

Intimacy does not have to be boring, painful or make you hate the condition that you have. Talk openly about your feelings around sex and penetration and what would help to ease your concerns.

Our FREE  e-paper March Issue is here!
As we celebrate our women this month, we bring you the best stories and the most inspiring features to get you going.
Click HERE to read!

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