If you're thinking of starting a family, you will be a lot better off if you do some financial planning before your bundle of joy arrives.

Expect expenses to rise. But the good news is that it won't be all at once. The U.S. Department of Agriculture reports that expenditures on children generally are lower in the younger age categories and higher in the older age categories.

So a little financial planning can make your family life significantly easier down the road.

Nevertheless, better expect to spend some $800 to $1,000 monthly to add a child to your family. Your greatest expense is housing followed by food, according to the U.S.D.A.

Then again, there are some things that are more important than money, right?

Fortunately, federal law allows most workers to get a leave of absence from their jobs to care for a child without losing a job. For more information about the Family and Medical Leave Act, visit www.dol.gov. After your leave, you might wish to weigh the expense of further lost wages against the cost of keeping your job and paying day care. Don't neglect considering your need for health insurance either.

Despite all the excitement, resist the urge to make over a room for Junior or buy new adorable outfits, which he or she will quickly outgrow. Instead, stick to the basics, and check whether relatives or friends may have baby clothes, furniture and toys they're not using. If you must buy items for your baby, check prices in stores and on the Internet. Know what you can afford. Consider hitting thrift stores during sales. .....

When you're having a child, it is critical that you take care of these other financial issues:

• Scrutinize whether your child will be covered under your medical insurance policy. You may need to add coverage.

• With children may come a need for more life insurance. As a rule of thumb, you need about five to eight times your current wages in life insurance. So if you make $50,000 a year, you many need about $250,000 to $400,000 of life insurance coverage. There are a lot of low-cost options, such as term life insurance, if you're just starting out.

• Make a will. Once you have a child, who gets your property becomes a more important issue. Without a will, the state makes that determination.

• Set up a durable power of attorney. That way someone you trust can handle all your affairs if you are incapacitated.

• Review your disability insurance. Particularly with a child, you want to make certain that your income is protected if you are unable to work.

• Be sure to appoint guardians for your child. You want to make certain there is someone to care for your child if you are gone.

• Consider having money automatically taken out of your pay before you get a chance to spend it. If your company offers a payroll deduction plan, take advantage of it.

• Start setting aside some money for your child's college education. Some investment companies offer college savings plans that let you invest your money in stock mutual funds when your child is young. As he or she approaches college age, the money automatically is moved into less risky investments.

Once your baby is born, your tax situation will change. So be sure to meet with your accountant if you have one. You will have an extra tax deduction and should need to change your W-2 at work. Plus, you may qualify for a child tax credit.