Mention the term

the first step in financial planning for a baby.

First of all, can you financially support a child based on your income and your partners? If not, hold off having a child. Would the child be living in a home that provided healthy food, good shelter, clothes, medicine if they were to get sick, love and other essentials a child would need in order to develop in a normal and healthy manner physically and mentally.
Hope I helped! Good luck!
Have fun Studying! ^ _ ^