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Q: We’re expecting our first child shortly. How can we plan for it moneywise?

Diana says....
You’re about to begin one of the most rewarding chapters of your life—and also one of the most expensive. There’s plenty you can do to keep the costs down. First, make a list of must-have items for the baby. Then spread the word among family and friends. You might be surprised by how many of these items show up on your doorstep—even outside baby showers. Next, reduce your monthly expenses. For example, create a budget for grocery items for the week and stick to it. Also cut down on restaurant meals. Finally, don’t put purchases on credit—especially double-digit-interest cards.

Diana Cawfield is an award-winning financial writer with more than 10 years experience. Send her your questions here.