Jody Drutman, an educator with the Childbirth Education Association of Australia, has seen it enough times to offer a stern caution.
"There's a temptation to think you know everything after you've had your first child, but the second is a completely different ballgame," says the Sydney midwife.
Finances
Use the time leading up to the birth to salt away some cash.
"The financial constraints are very real," stresses Drutman, "with dads often having to work longer and harder once there are two children on the scene."
And don't forget to blow some money on going out with your wife/partner afterwards. "You've got to look out for each other in the whole whirlwind."
Workload
Gird yourself for a big jump in effort on the home front.
"It's not just a case of twice the workload - it's much more than that," advises Drutman, pointing to the competing demands of a territorial toddler and a newborn.
To help ease the load, see if you can take some of your work home or get into as much flexi-time credit as possible.
Wee Egos
Spread the love around. "The arrival of a second child is a huge blow for the firstborn. They're very vulnerable at a time when their whole world has been turned upside down."
To stop the firstborn feeling left out or jealous when he or she sees gifts given to the new baby, ask friends if they can manage a small pressie for your older child as well.
"And try to show more interest in the toddler than the baby because the newborn will develop happily while the toddler is at the stage when they're internalising self-worth and self-esteem," advises Drutman.
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