Millennial Money: New parents’ finances need nurturing too
When you’re caring for a newborn, it can be hard enough to carve out time to shower, let alone stay on top of money tasks.
Planning for the baby itself — the name ideas, the nursery themes — is certainly more adorable than developing a system to make sure you remember to open the mail, but the last thing you’ll want to do is leave money management up to chance when your baby arrives.Take advantage of the pre-baby months to make some big decisions, including:
— LIFE INSURANCE: A life insurance policy can provide vital funding for your family if something were to happen to you, your partner or both of you.From smaller ongoing purchases like diapers and formula to massive costs like child care, those baby expenses are going to add up. If you’re taking unpaid parental leave or one parent is leaving their job to handle caretaking full time, the money coming in is going to change dramatically.
Next, automate bill payments for recurring costs, like credit cards, utilities and mortgage payments. If you rent your home and normally mail a check to your landlord, use your bank’s bill-pay feature so it’ll send checks on your behalf. Set up whatever you can in advance so these services will continue without interruption and late fees.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Speech arts, music, and more from this Terrace student - Terrace StandardAt only 15 years old, Erica has received multiple awards from Canada’s most prestigious fine arts school
Read more »
Terrace River Kings head to CIHL finals after nail-biting win over Hazelton - Terrace StandardTerraceBC River Kings head to CIHL finals after nail-biting win over Hazelton
Read more »
Father of cellphone sees dark side but also hope in new tech - Terrace StandardFather of cellphone sees dark side but also hope in new tech
Read more »
'Money obsessed' Meghan Markle bummed Prince Harry 'had very little money': Royal expertMeghan Markle was a little \u0022disappointed\u0022 her now\u002Dhusband Prince Harry wasn\u0027t as wealthy as she imagined when they first met.
Read more »
'Money obsessed' Meghan Markle bummed Prince Harry 'had very little money': Royal expertMeghan Markle was a little \u0022disappointed\u0022 her now\u002Dhusband Prince Harry wasn\u0027t as wealthy as she imagined when they first met.
Read more »
New numbers show New Brunswick continues to have high remand rates - New Brunswick | Globalnews.caAccording to a report by Statistics Canada, nearly two of every three people incarcerated in New Brunswick have not yet been sentenced.
Read more »