102: Preparing Financially for a Child

This is part of the Your Money and Your Family course.

Your Money and Your Family

So you decided you are finally ready to have a bundle of joy. Like many young couples, you can’t wait to build a dream nursery filled with all the cuteness in the world. Getting ready for your first child is a super exciting time, but you must prepare for the costs of having a baby.

Besides all the adorable clothes, baby items, toys, and diapers you need to also consider health care for the baby, hospital costs and life insurance. And thats just the first year. This class will help from planning a baby budget to saving for a college education.

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Lesson 1: Childcare Costs: The Price of Raising Kids

Having kids is expensive. Raising a child costs nearly a quarter of a million dollars. A nice chunk of that is childcare costs.

Lesson 2: College Savings Accounts -Leveraging 529 Plans

College costs are rising. If you have kids and want to help them pay for college, the earlier you start a 529 Savings Plan, the more it will grow.

Lesson 3: How to Prepare Financially for Babies with Stephany Kirkpatrick

Deciding whether or not to have a baby is probably the biggest decision you will ever make. Today we'll discuss how to prepare financially for baby.

Lesson 4: The Business of Babies

It's not romantic but if we looked at having a baby as a business decision, it would provide information to make better choices. The business of babies.

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