01
Reset the monthly baseline
Childcare, feeding, diapers, medical premiums and other recurring costs can change the amount your emergency cash is really covering.
New Parent Money Plan
A baby changes the budget, the protection plan and the paperwork.
Put the new recurring costs into one simple baseline, see what they do to cash runway, then work through insurance, health coverage, beneficiaries and child-account choices without turning parenthood into twenty disconnected financial tasks.
No bank connectionRules-based mathUse rough numbers
ILLUSTRATIVE EXAMPLE — review every default amount before using this plan.
Your new baseline
What changes when the recurring costs arrive?
These are planning inputs, not a recommendation for how much childcare or education saving should cost. Change them to match your household.
New monthly baseline$8,600$2,100/mo of entered baby + education costs
Cash runway after one-time costs3.0 monthsEntered cash covers between 3 and 6 months of the new monthly baseline.
New recurring costs / yr$25,200childcare/baby + entered education saving
First-year added cash load$29,200recurring costs + entered one-time costs
Cash runway here is (cash savings − entered one-time costs) ÷ your entered new monthly baseline. It does not include investment accounts, future income, paid leave, tax credits, insurance reimbursements or unexpected expenses unless you reflect those elsewhere in your plan.
Life Simulator starts with your pre-baby cash and essential spending. Baby costs and education saving begin in month 1; one-time costs are deducted once. Housing and debt categories start at zero because they are already included in essential spending. Choose a cash floor and review timing in the simulator.
Your next steps
0 of 6 reviewed
Progress stays in this browser. Mark a step after you review it.
The parent-money sequence
Six reviews. Each one opens the tool that already does the deeper math.
02
Review health-plan economics
A qualifying birth or adoption can create an enrollment window. Compare the premium, deductible, coinsurance and out-of-pocket maximum rather than looking at the premium alone.
03
Re-run the protection gap
If someone now depends on your income or unpaid caregiving, revisit life-insurance needs and beneficiary designations. MFA does not assume an entered coverage amount is adequate.
04
Choose an education-saving pace
A 529 can be useful, but the right contribution is the amount that fits after current cash flow, emergency reserves and higher-priority obligations.
05
Compare child-account options before opening one
529s, custodial accounts, Trump Accounts, Roth IRAs for earned income and trusts solve different problems. Start with the use case, not the account label.
06
Update the paperwork people forget
Beneficiaries, guardianship wishes, wills, powers of attorney and account ownership are separate legal or administrative decisions. MFA can explain the concepts, but legal documents should be reviewed with the appropriate professional.
Keep the household connected
When these numbers settle, put them into My MFA once.
The Money Plan can remember income, cash, spending, dependents, debt and goals so the rest of MFA stops starting from zero. Edits save in this browser. Transfer the reviewed plan to Life Simulator, then keep it in Decision Lab and My MFA for account access.
Educational planning tool only. It does not determine an appropriate emergency fund, insurance amount, investment account, legal document, tax election or health plan for your household. Verify employer and insurance deadlines and use the appropriate licensed legal, tax, insurance or financial professionals when the decision requires individualized advice.