Central Bank of St. Louis

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  • We're Starting a Family

    I can’t believe we’re going to be parents! Even though I’m only a few months along, we’ve already started thinking about the future.




    After meeting with the customer service representative at our bank and reviewing our options, we learned there are ways for us to start preparing now for all the expenses that come with raising a child.

    Sure, we knew about the one-time expenses like a car seat and baby stroller. But diapers, baby formula, and clothing can really add up. That’s why we’ve started putting a little money aside every month to help prepare.

    Right now, my health insurance is covering my prenatal care, but once the baby is here, we’ll have to move to a family coverage plan. And I’m sure we’ll be visiting the doctor a lot those first few years.

    We also learned that life and disability insurance are often overlooked in financial planning for a family. We’re going to adjust our policies to protect us financially in case of lost income or injury.

    College tuition is another consideration. But with a little planning, we can start saving with an education savings account so that with time and interest it can grow substantially.

    And the one thing no one ever wants to think about is their will. The thought of me or my husband dying is frightening. Who would take care of our child? Who would provide for our child? Answering those questions is tough, but so important.

    Knowing what we know now makes me feel so much more comfortable about starting our family. With the right financial planning, we can sleep easier knowing that our child will be taken care of no matter what challenges come our way.

    Equal Housing Lender. Equal Housing Lender. Member FDIC.
    *Insurance is not a deposit, not FDIC insured, not guaranteed by the bank or any of its affiliates and not insured by any federal government agency.