Becoming a tatay for the first time can be both exciting and overwhelming. For young Filipino fathers navigating the early stages of parenthood, managing finances is one of the biggest challenges. Between all the baby gear, sick and well checkups, unexpected expenses, and setting up your child’s education funds and other needs in the future, the costs can add up quickly. However, with the right strategy, money matters related to childcare can be the least of your worries.
To help first-time dads get started on the right foot, CIMB Bank Philippines shares some simple but smart money habits paired with digital tools designed support your growing responsibilities.
Start strong with a baby-ready budget
The early days of fatherhood come with a lot of firsts – including financial ones. Start strong by outlining a clear monthly budget for everything your baby needs, from day-to-day items to unexpected costs. As you learn the ropes of fatherhood, the financial aspects may also shift, so be ready to be flexible and adjust your budget when your child’s needs also change.
Create a “dad fund” for yourself
While you’re focused on the baby, don’t forget your own needs. Set aside a small monthly amount for personal wellness or even a much-needed coffee break. Being mentally and emotionally healthy can help you become a better father and partner.