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Financial planning for your newborn starts on day one. This guide covers the essential money steps every new parent needs: 529 college savings plans, credit freeze protection, health insurance enrollment, life insurance updates, and custodial accounts. All tools are free and require no signup.
Ages 0–2Stage 1 of 11
Birth
Building the Foundation
Secure your newborn's financial future from day one with 529 plans, custodial accounts, and identity protection.
What To Do Right Away
1. Get a Social Security Number
Apply at the hospital when filling out the birth certificate. This number is essential for opening any financial account for your child.
2. Freeze Your Child's Credit
Contact all three bureaus (Equifax, Experian, TransUnion) to freeze your newborn's credit. This prevents identity theft before they're even aware of credit.
3. Open a 529 College Savings Plan
Even $50/month from birth can grow to $20,000+ by age 18 thanks to compound interest. Use our 529 Calculator to project growth.
4. Update Insurance & Beneficiaries
Add your child to health insurance within 30 days of birth. Update life insurance beneficiaries and consider increasing coverage.