Honey I Can?t Afford The Kids
Sex has a lot to answer for ? babies usually ? which then with time and much financial investment grow up to be beautiful mutations of their parents. Yet as the family absorbs more money as it grows, the need for financial planning and protection becomes more important. So, where do you start and how do you move your finances forward? First of all there are "The Considerations": * If surplus funds become available, could these be invested? If so, will you choose a medium or long term investment? * Will you need an emergency fund? * Will you need to save for short-term events such as Christmas, holidays and birthdays? * Are you ready to save for a pension? Do you need to include your partner in a pension plan? * How much financial planning do you want to do your children? For example, is private education an option or priority and do you want to start saving for university fees? * How much borrowing will you need to do for buying a home and is it worth considering a mortgage payment protection plan? * Is life insurance or life assurance worth considering as security for your partner and family? * Do you need income protection insurance? * Are all of your belongings and possessions adequately covered by household insurance? Then there are "The Resources": * Have you taken advantage of all the family finance government initiatives involved? These include Child Benefit, Child Tax Credits, Child Trust Funds (CTFs) and the Educational Maintenance Allowance (EMA) scheme. Directgov is an excellent resource for information on public services (http://www.direct.gov.uk/Homepage/fs/en ) * Do you have the best possible deal on your finances? This includes your credit card, any secured or unsecured loans, your mortgage, remortgage and insurance. If you're not sure, it's not difficult to do some investigative homework. Moneyfacts ( http://www.moneyfacts.co.uk ) and Moneynet ( http://www.moneynet.co.uk ) are two popular sites for consumer research on financial products. If you live in the US, the website Lowermybills may prove helpful (http://www.lowermybills.com/ ). And that's just when the kids are still young. Once they're well established at school, you may wish to still evaluate the emergency fund, medical insurance and protecting your income against illness. The risks may change as the family develops so don't think that financial planning is a one-off event. Keep these issues in mind as your funds change. As you get older you may wish to consider writing your will and inheritance planning, planning for long-term care, protecting your capital, continuing your income should anything happen to your partner and even indulging your grandchildren. There are a variety of publications from companies such as Which? that can help you tackle what may seem like impossibly complicated tasks. If you're aware that one of the above issues needs to be tackled, don't neglect the gut feeling. Ask around for financial advice, but be aware that you need to be the decision maker, so gather as much information as you can and then make an informed decision. If the advice is conflicting, accept that financial success may always be based a little on luck and risk, though nothing excuses thorough research and planning. Read the papers, surf the web and ask around: the information is accessible! Resources: http://www.direct.gov.uk/Homepage/fs/en (Direct Gov)
http://www.moneynet.co.uk/ (Moneynet) About Rachel: Rachel writes for the personal finance blog Cashzilla: Cashzilla is a personalfinanosaurus. "Rachel" means sheep in Hebrew: "little lamb" or "one with purity". Cashzilla means financially savvy with great fiery ferocity. * * * * * * * * * * * * Contact details: Rachel Lane
http://www.cashzilla.co.uk
rachel@positiveinterest.com
0131 561 2251
Related News
Parenting Class Offered Thursday - The Morning News
Parenting Class Offered ThursdayThe Morning News, AR -6 hours agoBy THE MORNING NEWS The Northwest Arkansas Child Care Resource and Referral Center will present a free parenting class Thursday on the impact of second-hand ... |
Early Childhood Parenting Examiner - Examiner.com
Early Childhood Parenting ExaminerExaminer.com -22 hours agoby Eric Burkett, Food and Drink Examiner Cookbooks take me places. I don’t know how old I was when I began to make the connection between food and identity, ... |
Parenting Tips - Modesto Bee
Parenting TipsModesto Bee, CA -Oct 7, 2008By Tom McMahon One of the biggest mistakes parents make is not following through with a threat or rule. Kids know immediately that they don't have to comply ... |
Attend first of five parenting talks - Nashua Telegraph
Attend first of five parenting talksNashua Telegraph, NH -20 hours agoParent-to-Parent and the Milford Police Department will present the first of a series of five parent-planned interactive talks for parents of elementary and ... |
New car technology to aid parenting skills - Great Dad
Ten things I've learned about parenting - Rankin Ledger
Ten things I've learned about parentingRankin Ledger, MS -Oct 6, 2008By Leilani Salter I f you were a fan of our parenting Web site, mississippimoms.com, you've probably noticed that it has changed. It's now momslikeme.com ... |
UAY offering free parenting workshops - Iowa City Press Citizen
UAY offering free parenting workshopsIowa City Press Citizen, IA -2 hours agoUnited Action for Youth will offer free parenting workshops at the Iowa Children's Museum in the Coral Ridge Mall beginning Monday. ... |
Bounty.com launches parenting TV channel - Brand Republic
Bounty.com launches parenting TV channelBrand Republic, UK -16 minutes agoby Nikki Sandison, Brand Republic 08-Oct-08, 11:00 LONDON - Bounty.com, the parenting advice website, is launching an internet TV channel providing ... |
G+J launches "Parenting Network" as first transnational online project - Dailynet
What about the rights of the child? - Vancouver Sun
|
|
 |
|
|
RELATED ARTICLES
Single Parents: Give Yourselves Credit
Single parents are not often thought of as good parents.
How Can I Teach My Child Respect?
A common theme over the past 20 years has been how much children have changed from when we were growing up in terms of how they show respect. I know that for the most part in the 1960's, anyone in a position of authority commanded respect which included parents, teachers, police officers, principals, bosses, coaches and anyone else we viewed in some way as a person in authority. We in fact were taught to "obey" and do as we were told; no questions asked. Many of those people did command respect but unfortunately many of them abused their position of power and felt they were licensed to say and do whatever they wanted simply by virtue of the position they held.
The Ten Things That Successful Parents Do
1. They are leaders as well as parents. They don't rely on the schools, the government, television, the movies or music to teach their children values and the difference between right and wrong. They do it themselves.
How to Help Your Children to Blossom
I am writing this from the beautiful mountains of Western North Carolina in the southeastern region of the United States.
Top Seven Tips To Become A Good Stepmother
Becoming a stepmother can undoubtedly be one of the most challenging, yet rewarding, experiences in a woman's life.
Top 25 Children Quotations
"You can learn many things from children. How much patience you have, for instance."-- Franklin P. Adams
6 Signs You?re A High Maintenance Parent
The children of Baby Boomers, the Echo Generation, are entering college in increasing numbers. Getting into the best schools is increasingly competitive. Having good grades, a great SAT score and participating in extracurricular activities is no assurance that your student will get into the school of their choice.
Registering a Birth in Scotland
The child's mother or father should register the birth within 21 days. However, a father who is not married to the child's
mother can only register a birth and be named on the birth certificate as the father if:
he jointly signs the register with the mother, or
a court has declared that he is the father, or
the mother and he jointly sign a declaration available from
the Registrar.
Will My Doubts and Fears Affect My Child?
"Will my doubts and fears affect my child?" This father is concerned about his son, a high school athlete with a vision of playing professional sports. The father's fear is that his son won't be accepted into the 'right' college to be scouted by the professionals. He wanted to know:
No, No, No -- What Else is a Parent to Say?
The word no is probably the most overused word in the English language. I speak from experience since I myself use it frequently.
Cyber Parenting 101
Many parental units are not "techies" and openly admit they
are not. They seem to use that as an excuse to not be
informed and "trust" their children to do what is right in
an environment that is clearly risky. When it comes to
underage children being online, there should be a set of
household rules that are in place and followed or no online
connections are allowed.
Tips for the Classroom Teachers with ADHD Students
Thank you for all that you do in the classroom! It is hard enough being a classroom teacher today, but when you add to the difficulties two or three children with either Attention Deficit Hyperactivity Disorder, or minor head injuries from FAS, managing a classroom can be a real challenge!
Encourage Your Children Potential By Your Modeling
All responsible parents would want to support their children, find ways to encourage their potential, help them be more, discover their hidden gifts and help them reach for the stars.
Really Good News About Your Children?s Video Games
Research published by University of Rochester neuroscientists C. Shawn Green and Daphne Bavelier has grabbed national attention for suggesting that playing "action" video and computer games has positive effects ? enhancing student's visual selective attention. But that finding is just one small part of a more important message that all parents and educators need to hear: video games are not the enemy, but the best opportunity we have to engage our kids in real learning.
10 Steps to School Year Success
When Your Chicks Leave the Nest
When my son was 18 (and had finished school), he moved into a flat with two of his mates. They were boys we'd known throughout his high school years and the flat was only ten minutes from home, but I cried for two weeks!
Income that PAYS Your Child Support WITHOUT Increasing Your Child Support
Child support is defined as that part of your income you would spend on your children if they lived with you. Custodial parents do not pay child support, because it is assumed that they are spending money on the children, either directly (clothes, entertainment, etc.) and indirectly (rent, food, etc.). Non-custodial parents are ordered to pay child support -usually a fixed amount for a certain period of time, like per week or per month ? to the custodial parent, who is required to spend it for the benefit of the child. This article is written to define a method by which a non-custodial parent can create income that should pay his or her child support obligation, yet not increase the child support obligation.
ADHD Treatment: Strategy and Philosophy
If your child or teen has been diagnosed with Attention Deficit Hyperactivity Disorder during the summer, or winter months, and if your child or teen is not a danger to himself or to someone else, we recommend that you try diet and nutritional interventions first and see if they work. Try our Eating Program/Diet and order the VAXA products "Attend" and "Extress". Use them for at least 60 days along with the Eating Program/Diet. It will take 30 to 45 days to really know whether or not this will be sufficient as an intervention. Give it time.
Breaking the Cycle of Emotional Blackmail
Family decision-making is an intriguing phenomenon. Many factors become part of the decision-making process. Emotions play an important part in this activity.
Diagnosing ADHD in Children, an Introduction
Everyone in a private practice setting who works with children or adults is going to have their own opinion on how Attention Deficit Hyperactivity Disorder - ADD or ADHD - should be diagnosed. Some clinics take the perspective that "more is good," and will recommend a large battery of tests, often costing many thousands of dollars. Other clinics, typically with hurried physicians, will simply give a brief rating scales to the parents and then make a quick diagnosis and prescribe treatment, usually a medication.
|
