Are you ready to become a parent, but worried about how your family finances will cope with the new addition to your family? It’s a common concern among mothers and fathers around the world and has been for hundreds of years. Fortunately, first-time parents have developed some pretty effective techniques for keeping their fiscal mindset during those last few months before the baby arrives.

The first step is to redo your monthly budget to reflect all the changes that come with starting a family. The secret to maintaining order and monetary peace is planning. Even if you only have a few months before the big day, sit down and go over your budget line by line. After that, look for areas where you can make some simple changes for the better, like refinancing multiple student loans.

Don’t forget to connect with other new parents. Interacting and exchanging ideas with others is an innovative and fun way to gain new knowledge and get some advice from those who already have a few children. You’ll also want to start a college fund, thoroughly review your insurance coverage, and more. Here’s how to get started before things get hectic.

Fix your budget

If this is your first time welcoming a newborn into the world, consider spending a session or two with a licensed financial planner. These professionals can help you go over your monthly budget and make some essential changes, eliminate excess spending, and show you how to build your college and savings funds.

Having a baby is a big lifestyle change, but also a life transformation that significantly affects the way you earn, save and spend. Find a planner who offers reasonable rates for initial consultations and has experience working with first-time moms and dads.

Lower monthly payments

One of the most efficient ways to prepare for your new family member is to reduce your monthly expenses. For parents still paying off college loans, this means choosing a refinancing deal that combines multiple obligations into a single loan. Not only does moving save you time and make paying your bills more manageable, it also gives you access to better rates, a longer time to pay off your total balance and more favorable terms.

For some couples, this technique is all it takes to save a significant amount and increase their potential savings in anticipation of the new arrival. Raising children is not easy or cheap, as all parents know. So why not start this new phase of your life by being smart about education debt.

The network

Join online and in-person parenting clubs. People often overlook the value of networking with other dads and moms. It’s an ideal way to learn from couples who already have children, get ideas about homeschooling options, how to improve work-life balance and meet new friends. Never underestimate the importance of human connection.

There are hundreds of video chat groups online, and most cities have new parenting social organizations for moms and dads with kids of all ages. If you go to a local church or synagogue, ask someone there about discussion and support groups for new parents. Group chat sessions are a great way to learn and socialize with other parents.