Are you expecting a baby? Congrats! Children are very special, but it's no secret that raising a child can be financially challenging. Check out our latest blog post for essential tips on preparing for baby expenses and how to budget for a newborn.
Scott Credit Union’s Post
More Relevant Posts
-
Parenting is a source of joy, yet it also requires thorough planning, particularly in terms of finances. Let's explore the financial aspect of raising children. In 1983, the cost of raising a child from birth to age 17 was around $81,000, while the median household income was $24,580, representing 3.3 times the total cost of raising a child. However, by 2023, this expense has surged to $310,605 for the same 0–17-year period. It's essential to fully comprehend the financial commitments involved in having a child (or multiple children) before making such a significant decision. Here's a breakdown of the major expenses associated with raising a child: https://lnkd.in/eQyp2ADS
Starting a family: the total cost of a baby in 1983 versus today - Farhod Sultonov - New York, NY
oxuswealth.com
To view or add a comment, sign in
-
Senior Partner at Clearwater Wealth Management, Principal Partner Practice of St. James’s Place Wealth Management
Planning for your new arrival? Check out this essential baby checklist to ensure you're financially prepared for the journey ahead. From budgeting for diapers to setting up a school fund, every step counts towards securing your family's future. #FinancialPlanning #NewBaby #Parenthood
To view or add a comment, sign in
-
Senior Product owner - KYC (AML/CDD) | Side hustle: Building my lifestyle YouTube channel step by step
"It’s better to look ahead and prepare than to look back and regret.” ― Jackie Joyner-Kersee The above quote is very relevant for today's topic: 🥅 Starting a family is one of the biggest decision of a couple's life and it is vital to be financially prepared for a smooth execution of this life changing event. 👨🍼When it comes to raising a child it is all the more important to know in advance what are the expenses per month coming your way so that you can arrange your personal finances and whether there are any benefits/allowances you can receive that will prove to be helpful in contributing to cover some of these expenses in this beautiful journey of parenting ❤️. 💰In this interesting 8-minute video, I talk about the financial benefits of parenting in the Netherlands 🇳🇱. 💡We discuss the 3 allowances/benefits that you might be eligible for if you become a parent in the Netherlands. 💶Learn how families can make the most of the Dutch support system by being aware of the amounts they are eligible for and applying for these benefits. 👪 I was also not aware about these until I became a father last year and whether you're already a parent or planning to start a family, this information might be helpful. If you wish to see more such informatory videos, you can use the link below: https://lnkd.in/eE5Fmcqh #parenting #childcare #expenses #netherlands
To view or add a comment, sign in
-
You just found out you are expecting a child. There are several thoughts running through your head, such as how can I financially prepare for a baby? In this post, we discuss 5 tips for financially preparing for the birth of a child. https://lnkd.in/gaeHdycD
5 Ways to Financially Prepare for a Baby
fmgwebsites.com
To view or add a comment, sign in
-
Family Responsibility: Introduction : Family responsibility often involves providing emotional support, financial assistance, and practical help to family members in need. It can also mean contributing to household chores, caregiving for elderly relatives, or being there during important life events. It's about being there for each other through thick and thin. When it comes to family responsibility, some key features include: Commitment: A dedication to supporting and caring for family members, regardless of the circumstances. Communication: Open and honest communication to address needs, concerns, and expectations within the family unit. Empathy: Understanding and empathizing with the struggles, challenges, and joys experienced by each family member. Financial Support: Providing financial assistance when necessary, such as helping with bills, education costs, or other expenses. Practical Help: Offering practical assistance with tasks like household chores, transportation, or childcare. Emotional Support: Being a source of comfort, encouragement, and guidance during difficult times. Respect: Respecting each family member's individuality, opinions, and boundaries while fostering a sense of unity and belonging within the family. These features contribute to a strong and supportive family dynamic where members can rely on each other and grow together. #talentserve #family #life #growth
To view or add a comment, sign in
-
Growing your family? Check out our latest blog post for a 6-step guide to nurturing your family finances in preparation for your first child. We discuss some things to take into consideration as you are planning for your new arrival! #FamilyFinances #NewParents #FinancialPlanning
Financially Prepared for Baby? Get Your Free Guide!
tullfinancial.com
To view or add a comment, sign in
-
How much does it (really) cost to raise a child? Well, a recent study by Lending Tree found that parents typically spend $237,482 on raising a child from birth to age 18, not including college costs. And, as your child grows, your expenses will change. Early on, you'll need to budget for diapers, formula, and childcare. Later, once they’re in school, there will be costs for extracurricular activities, family vacations, and other significant items. Fortunately, there are ways parents can save money and effectively handle their finances when welcoming a new child. Here’s how you can get started: https://hubs.la/Q02jVV8p0 #katytx #creditunion #budgeting #parenthood #savings
How Much Does It Cost To Raise A Child? How Parenthood Changes Your Finances
blog.mccu.com
To view or add a comment, sign in
-
Ehlers-Danlos Awareness Month, Day 30: Exceptional caregiving Today I'm sharing some real talk on "exceptional caregiving," an underappreciated but very common aspect of life with EDS/HSD. The Boston College Center for Work & Family defines exceptional caregiving as "caregiving situations that have emerged from societal shifts that extend beyond the traditional scope," taking on a set of direct care responsibilities beyond the typical relationship one has with a child, partner, parent, friend, or extended family member. EDS is genetic. The most common subtype, hEDS, has a dominant inheritance pattern, meaning that only one parent has to have the mutation in order to pass it on to their child. It's by definition quite frequent to find multiple people with EDS in the same family. Just in my own nuclear family of four, two of us (myself and my 5-year-old, Ezra*) are diagnosed with EDS/HSD. People often call Ezra my clone. In addition to our EDS/HSD and neurodivergence, we share a love of sparkly shoes, apricot jam, and Dolly Parton, and a deep interest in macrophages (the coolest kind of white blood cell). Like me, Ezra has had his share of health issues which have required a lot of time, effort, and cost to manage. All working parents face significant practical challenges, but these are multiplied exponentially for caregivers, especially those who are managing their own disability. Although my husband Matthew Meltzer doesn't identify as disabled, he's going above and beyond in his role as both partner and parent to people with disabilities while running his own law firm. And of course, we're also parenting our delightful 2-year-old, Lenny. Our society is not set up to imagine, let alone support, disabled caregivers. Here's a current example. Ezra and I both need new mobility aids. For me to parent effectively, I have to be able to assist him with his mobility aid while using mine. Our doctors recommended that we go together in-person to a medical equipment store to try out some options simultaneously. For the past couple months, Matt and I have called and traveled to many local stores to see who has the right inventory and expertise. None have been able to assist, because they specialize in either adult or pediatric aids only. Our best option at this point is to order online, then try to get insurance coverage after the fact. Getting a mobility aid for only one of us would require some work, but the intersection of our needs makes it way more burdensome for no reason other than stores' failure to conceptualize that two customers could exist in the same family. For me, this bureaucratic stuff--not our health condition in and of itself--is what turns parenting into exceptional caregiving. For others engaged in this work, I highly recommend the book Advanced Parenting for actionable and empathetic advice. https://lnkd.in/gi_q34p5 *Shared with his consent. #MyEDSChallenge
Advanced Parenting
https://drkellyfradin.com
To view or add a comment, sign in
-
Empowering Tech Talents | Co-Founder of BYTE Challenge | Associate Application DevOps Consultant at IBM | Keynote Speaker | Board member @ GI
It's time to change this perspective!! The worth of a mother is often determined by the paycheck she brings. 💼 But let's get this straight: Just because a mother doesn't earn a paycheck outside the home doesn't mean her contributions are any less valuable. Every day, she's shaping the future, nurturing young minds, and creating a loving environment for her children—roles that hold immeasurable worth. It's wrong to measure a mother's value solely by financial metrics. Yet, societal pressures can sometimes undermine her efforts, leaving her feeling undervalued or unseen. Every mom deserves recognition and appreciation for the hard work and dedication she puts into raising her children. Let's celebrate every mother's incredible worth beyond money. Their love, sacrifices, and unwavering support are priceless. To make mothers feel special and valued, show appreciation through simple gestures like expressing gratitude, offering support, or acknowledging their achievements. Let's ensure every mother knows just how much they mean to us. 💖 How do you show appreciation for the mothers in your life? Let's share ideas on celebrating their amazing contributions! #motherhood #childcare #parenting #paycheck
To view or add a comment, sign in
-
Planning for the care of your aging loved ones is a collaborative process. Start by asking them what their wishes and desires are. Do they want to live at home? What are their healthcare wishes? Having these conversations before there's a crisis event helps to increase options and reduce stress. https://lnkd.in/eEWEG2U5 #caregiving #eldercare
Four Things You Need to Know About Your Aging Parents
kiplinger.com
To view or add a comment, sign in