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______ is the first step in financial planning for a baby.

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Final answer:

Setting a budget is the first step in financial planning for a baby.


Explanation:

Financial Planning for a Baby

Setting a budget is the first crucial step in financial planning for a baby. By establishing short-term, medium-term, and long-term goals, such as saving for emergencies or future expenses like education, parents can efficiently manage their finances.


Learn more about Financial Planning for a Baby here:

https://brainly.com/question/41263407


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