Have no fear! Usually once you actually have the baby and live with the added expenses, things fall in to place.

You will probably have to invest more time in planning your budget, and also have to be extra careful with expenses at the beginning, but once you get the hang of it things will start going more smoothly.

There are some basic questions you should deal with when it comes to the responsibility you have for the child you have brought into the world.  Usually, these questions have to do with dangers and possibilities you don't want to think about, but you really should. So here are some short answers to important questions.

Do we need life insurance?
Yes, but its not as hard or as complicated as you might imagine. Life insurance isn't cheap, but the right policy does buy you a peace of mind.  Especially when your child is young, you will want to guarantee that your family will be cared for financially up to and including college costs. Your two main choices are whole life and term insurance. Term may make the most sense for a growing family, but both have their advantages. Contact some insurance agencies to get the general idea, and read our articles about life insurance.

Do we need disability insurance?
And again the answer will be yes.  Statistically, you are more likely to become disabled than you are to die in the prime of your life (30-60).  Both options are not exactly wonderful, but when you decide about insurance you think about statistics and not about yourself.  By having disability insurance, you can secure a portion of your accustomed salary in case you can't work.  This payment will continue long after worker's compensation or an employer's plan benefits expire.