The Ultimate financial guide for new parents
5 steps for new parents to reduce stress and build their ideal life
Essential reading for all expectant and new parents. MUVADO’s ultimate guide will help you
- Reduce financial stress and worry.
- Sleep better at night.
- Make sure your children are always cared for.
- Make spending decisions easier.
- Maximise your wealth and stop work earlier.
5 financial planning steps for new parents
Your life has changed. Big time. You have a dependant, or dependants. Here’s a summary of the MUVADO five step plan included in our free eBook to help new parents get financially secure and build their ideal life.
1. Build your baby bump
It’s often important to have a little extra cash ahead of expanding your family unit. There will be expenses, and an additional ‘baby bump’ is important when providing for children.
2. Should have had protection …
Not like that. We support procreation.
What we mean is, what plans have you got in place if the worst were to happen? We know this is a morbid topic but it’s an important one. Especially important to have in place when you have children, or in technical speak, ‘financial dependents’.
3. Your new outlook
“Life isn’t better before kids or after kids, it’s just different.”
We see having children changes perspectives. By clarifying what’s most important to you now, you can build your finances to meet your ideal life.
4. Put your own life jacket on first
By saving for yourself first your children will benefit in the long run. The days of long-term single company employment and satisfying pension payments from state pension age are fading, and in most industries totally gone. The only thing that will support you when you stop work (other than the state pension – living off c.£800pm anyone?), is yourself.
5. How wealthy do you want your children to be?
If your own savings are sorted you’re projected to build the life you want AND you can afford to make additional savings for your children, you should consider two questions. Download the book to find out what they are.
Nail these five steps and you’ll be financially secure for catastrophic events and well on your way to financial freedom.