Congratulations, Mr. New-Family man, it’s an exciting time!  You’ve got a kid and now, and for the first time, you are the one celebrated on Father’s Day. According to my unscientific survey, the number one requested gift by new fathers on Father’s Day is “sleeping in.” Oh yes, the joys of a having a newborn in the house.

I hope you enjoy your special day and the totally new life fatherhood provides — I know I do. Of course, it’s a whole new world from a financial perspective too. With that in mind, here are three important financial tips for new dads:

Tip #1: You definitely need diapers, but you probably don’t need those diapers.

Many households find themselves choosing to purchase things they’ve been told by others they need to have. Some items you will need, of course, but others you won’t. Do you need diapers? You bet. I don’t care how good you think your genes are - your kid is not going to be the first one to exit the womb toilet-trained.

Which kind of diapers? Shop around. For many generations, parents and children have survived with only “regular” diapers. Store brand is fine. (We get ours at the warehouse club.) There’s nothing wrong with splurging for a premium brand if it's important to you, but let’s make one thing perfectly clear: the baby won’t know the difference — it’s going to do its business in there either way.

What about a wipes warmer? Do you need one? The fact that many parents out there think they do is irrelevant. What matters is what you think. For what it’s worth, my kids seem totally fine with room-temperature wipes, as have millions of children who have crawled around this Earth before them.

Of course the baby-related spending decisions extend far beyond diapers and wipes. There’s bedding, layette, furniture, and much more. You don’t have to choose the cheapest option every time, but you probably can’t afford to splurge on each one either. The best course of action is to choose to spend money on what you truly value most and cut back elsewhere.

Tip #2: Your kid can save you a lot of money.

The idea that your child could save you money might seem unlikely right now, especially if your child is just a few weeks old. But, as the father of two little girls, I can tell you that your kids will be entertaining you in short order. Make sure you enjoy such moments. Not only because they go by so quickly, but also because it is so easy to fall into the modern trap of believing you must be spending money on your children in order to be enjoying your time with them.

Nothing could further from the truth.

Some of my best days since my first daughter was born have been largely spent in playgrounds and at local beaches. Find the places in your community that bring your child the greatest joy. You’ll experience true happiness and save money in the process.

Tip # 3: Get your periodic financial check-up.

Either on your own or with the help of a trusted adviser, make sure you are acting like the parent you now are. No matter your marital status, being a father brings a whole new world of responsibilities that go way beyond providing for today. In addition to creating an emergency fund, ensuring that you have ample and appropriate life insurance is critical. If you can afford it, establishing a 529 plan while your child is still young can also be a great move. But don’t do so at the expense of saving for your retirement, especially if your employer offers you a matching contribution. After all, there’s no financial aid office at the country club.

Being a new father is filled with joy that is difficult, if not impossible, to duplicate elsewhere in life. Follow the three tips above and you’ll be sure that money never gets in the way.