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24 April 2024
She says, “It’s pivotal to have a holistic plan upfront that you draw up in consultation with your partner, employer, medical aid provider, and financial adviser. Preparing for some of the biggest costs is a major factor in ensuring peace of mind, now and later. We outline some of the expenses to consider, but naturally, the exact amounts will vary depending on whether you’re opting for public or private services, your medical aid option, as well as the specific providers you use.”
In the first trimester, women often underestimate the significant impact pregnancy can have on both their physical and emotional well-being. During your initial doctor's visit, expect a series of tests to monitor your health and the baby's growth. These tests may not be covered by medical aid and can incur substantial costs (up to R2,500 or more), encompass evaluations for blood pressure, blood glucose, German measles, and your first sonar scan.
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In addition, it's crucial to conduct thorough research on maternity benefits and hospital/gynaecologist options. Some maternity wards offer hospital tours, allowing parents to assess facilities and inquire about specific policies. Questions regarding the presence of birth partners during delivery or overnight stays for assistance should be addressed. Understanding hospital rules and legal requirements, such as the necessity of a baby car seat before leaving with your newborn, is essential. Furthermore, signing up for baby programmes offered by medical aids, hospitals, and stores can provide valuable resources and discounts. Additionally, it's advisable not to stock up excessively on baby essentials before the baby arrives, considering potential sensitivities and the need for adjustments.
As you start (hopefully) getting over the morning sickness stage, use your extra energy to get your affairs in order. Review your long-term financial plans, including updating your will, revisiting your estate planning and appointing a guardian, adjusting your life cover, and establishing education funds .
In this trimester, you can also opt for additional tests for foetal anomalies like Down’s Syndrome. These often fall outside medical aid limits and can cost up to R2,400.
Now’s the time to start to budget for maternity leave, living expenses, and final baby preparations, including attending antenatal classes and finalising birth plans.
It’s wonderful to have a birth plan, but remember to account for curveballs, like your baby’s health and the potential need to switch to a C-section.
Having a baby is transformative. Don’t underestimate it. Be gentle on yourself in this season and take time to heal. Monitor your mood to know if you need some help with post-partum depression.
Hancox concludes, “It is easy to assume that after the baby is born, you will be the same person you were at the start of this journey. However, the reality is that you have changed, and so have your circumstances. Careful financial planning for every step of the way will allow you to enjoy this special time the way it is supposed to be.”