Chapter 2
Financial Planning Steps When Your Kids are Young
IN THIS CHAPTER
Developing your personal financial plans
Seeing the best ways to save and invest given the realities of college financial aid
Developing your children’s potential without trashing your budget
Understanding other important financial steps to take
Life changes are often a wake-up call as to the value and importance of making the most of your money and money decisions. Generally speaking, the sooner you make and implement a sound financial plan when you have kids, the better off you will be. The more years your plan has to work on your behalf, the better your future financial position should be.
In the likely event that your children will apply to and possibly attend college, it is imperative that you plan ahead so ’you can be ready for those upcoming costs. Note: If your kids end up selecting an alternative to college (see Chapter 8 for options) that is likely less costly, the good news is that you may have some extra money you weren’t counting on!
Kids Are Costly! Getting Your Finances in Order
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