Welcoming a baby into your life is magical—but it’s also expensive. Between diapers, daycare, and all the tiny socks your washing machine will mysteriously eat, costs can add up fast. Many new parents fall into the same financial traps, often without realizing it until the damage is done. From overspending on gear to skipping essential paperwork, money mistakes made early on can drain your budget for years to come. Here are nine of the most common (and costly) money mistakes new parents make—and how you can avoid them.
