Personal Finance Six important financial decisions every new parent must make Updated : July 18, 2019 11:00 AM IST Babies are expensive. Period. And to manage these expenses you need to revise your budget and may even have to cut corners. Every parent wants to provide for their child the best life imaginable and this is possible only through careful financial planning. Buying term insurance is one such decision. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.