4 Money Mistakes Expectant Parents Make

I read this article (4 money mistakes people keep making when they’re expecting a baby) by Sheryl Nance-Nash recently. I have a few clients (parents and grand-parents) that are expecting. I found it timely for them and there are lessons for others here too.

  1. Don’t buy too much stuff. Baby’s don’t really need all the things that are sold. Don’t use debt.
  2. You may need to adjust your budget. Changes in your life can mean changes in your budget are in order.
  3. Don’t neglect thinking about your future needs. Save for college, save for retirement.
  4. Update your estate planning documents. Periodically review your insurances.
  5. Re-evaluate your “emergency” needs. They may be new.

Be well.

 

 

 

The post 4 Money Mistakes Expectant Parents Make appeared first on Joss Financial Group.

About the author

Daniel Joss MBA, CFP®, RLP®

Daniel D. Joss MBA, CFP®, RLP® is a seasoned Financial Life Planning professional with over 16 years of advising clients. Dan earned a Master of Business Administration, with an emphasis in financial planning from Regent University in 1999. He has been selected more than once as Top Financial Advisor in Northern Virginia Magazine. Dan speaks regularly in various peer forums and professional organizations. He has also been quoted in various national and local print and online publications.

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