A Guide to Planning Your Family’s Financial Future
by Paul Horsman, published on directline.com
Having children takes careful financial planning to make sure money doesn’t become a stress for you and your family.
We’ll run through how you could consider your family’s future, confidently take your first steps as a family, and set up plans which will last a lifetime.
Introduction to Financial Planning
If you’re thinking about starting a family, here’s some questions you could ask yourself before having a child:
- Can you afford it? It’s good to plan ahead, but if you can’t afford the cost of a child you may run into financial troubles in the future.
- How strong is your relationship? Are you ready to commit to raising a child with your partner for the next 20 or so years?
- How’s your health? Pregnancy takes a huge toll on the body. It’s good to speak to your doctor about any underlying health conditions before attempting to get pregnant.
- Is your home big enough? Children and their things take up a lot of space, so think about how this will affect your home. Moving to a bigger place will cost money you’ll need to budget for.