Saving for a family:
3 important places to put your cents
Starting a family can be scary stuff. Two turns to three – maybe even four – and suddenly you’re left overwhelmed by the reality that families are expensive.
But, expensive doesn’t have to be scary if you save for it.
Saving is the best gift that you can give your family before you start one and here at nifty, the best place to get money online, we know that every cent counts.
So, here are three things to save for if a family is your next step.
Save to move – but stay where you are!
As your family grows, sure, a little more space couldn’t hurt. Certainly, now is a useful time to start looking around and pricing your options.
But, for now, stay where you are. The best thing for a young family is to save every last cent for a deposit on a larger place later on. Remember, babies are small and don’t need the space – nor do Mom and Dad need the extra financial burden.
So, for as long as you’re reasonably comfortable, save your money and stay put. Only when you have to, make the jump.
Save for those medical expenses – a little emergency pot won’t hurt
As you prep for a family, health should be on the top of your list. But don’t let it overwhelm you. Be prepared by saving for it and start investigating your medical options. A network-savvy medical aid, for example, is a good way to save.
But, saving shouldn’t end there. Medical emergencies are a reality and young children, who might be prone to sickness, will find the benefit of the emergency pot very useful.
Be prepared by putting a little aside every month for that inevitable time when a medical aid does not cover the expenses.
Start saving for school. But not only for when they’re cute!
Education is the key to their future and all parents want to give their kids the best. The best though, can cost a lot of money and if you haven’t saved for it can leave you financially stressed.
Avoid that stress by starting a school savings today. Before your family even grows to three, have that savings blossoming!
But, look beyond the cute years too. Consistently putting money aside every month for 18 years can really change your financial outlook come university time.
So – there you have it. Don’t let money stop you from enjoying this fact: Starting a family is a beautiful gift and you should be overjoyed!
Don’t let the financial reality of a family rain on your parade. Start saving today, little by little.
