Perhaps you are a newly married couple doing some family
planning, or you may have just discovered that you have
a little “surprise” coming your way. Whether
you are barely trying to get the hang of marriage and money
management, or if you’re simply looking ahead to a
future with a baby in it, a little financial planning will
go a long way once your bundle of jubilation comes along.
The US Department of Agriculture estimates that a middle
income family will spend a bare minimum of $250,000 to raise
a child. Yikes! Don’t worry! Time is on your side.
College won’t be for another 18 years, at the very
least. But that doesn’t mean that you can slack off
on saving, either.
A financial advisor can help you to realistically assess
your income and your debts. More importantly a professional
can help you set a realistic budget. Doing this will help
you set sensible goals each month. You will find that, rather
than go with your impulse to buy that “gotta have
it” item, you will hold off on it a little longer,
only to find that something of a much higher priority will
come along.
That’s the whole idea of saving… saying “no”
now so that you can say “yes” to the important
things, later.
