Who we help
New parents and young families
Your life has changed. Big time. You have a dependant, or dependants.
As well as taking on care duties, you have more financial responsibility. Children aren’t cheap and you want them to always be comfortable and to share great experiences with them.
Muvado loves working with new parents and young families as it’s a time of change, and where there’s change, there are decisions to be made.
Muvado can help provide clarity on your financial and life decisions by projecting the long-term impact of them. We also make sure your money is in the right place to build and maintain a lasting family legacy.
How should we fund buying a bigger house? If we reduce our hours, can we still stop work at 60? Should we send our children to private school? How much life insurance do we need?
These are questions we often face and can help with using our five step plan for new parents.
If you’re considering starting a family in the next few years we are also in a great position to get your finances into shape for your new arrival.
How we help?
Through our 100 day plan we action the following 5 steps to help new parents. You can find our more in The Ultimate Financial Guide for New Parents, available to download for FREE here.
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 buffer is important when providing for children.
We calculate your ‘noodle budget’ by understanding what your ‘can’t do without’ expenses are, and we mean really ‘can’t do without’. The food budget is the cost of maintaining your calories on pot noodles; hence noodle budget. We tend to recommend Muvado members hold anywhere between 3 and 6 months of your noodle budget as cash.
For expectant parents or people planning to have children, we will also look at parental leave pay and calculate any additional shortfall of income to meet expenditure in the early months of being a new parent.
2. Should have had protection …
Not like that. We support procreation at Muvado.
What we mean is, what plans have you got in place if the worst were to happen? We know this is a mildly morbid topic but it’s an important one. Especially important to have in place when you have children, or in technical speak financial dependents.
MUVADO has plenty of experience helping expecting and new parents navigate the complexity of this topic.
We check you have legal documents in place for death and disability, including a Will and Lasting Powers of Attorney. We host the difficult conversations that need to be had, and ensure you fully understand the current financial protection in place and any gaps that could be filled with additional insurance policies. We can recommend and implement life, critical illness and income protection policies that could offer vital support in your family’s time of need.
We hope financial protection policies are the biggest waste of money in the world, but we’ve seen plenty of circumstances where having these things in place is essential.
3. Your new outlook
By gaining an understanding of what’s most important to you we can help to build the perfect finances to meet your ideal life.
Understanding your family’s values and how you want o be seen by your children can help inform every money decision you make as a family. Muvado can then coach you stay on the right track and hold you accountable to your ideal future.
4. Put your own life jacket on first
Muvado works with you to build your money mother dough. You’re not going to be earning forever and you need to save to support yourself when earnings stop.
By following a process and given the right conditions you can build your money mother dough with the aim of supporting yourself first and then for future generations.
5. How wealthy do you want your children to be?
- Do you really know how your newborn is going to spend this money when they turn 16 or 18?
- If saving into a bank or building society account, think about the impact of inflation. How much is this money actually going to buy when your child turns 16 or 18?
There are plenty of options when it comes to saving for your children, we can help you pick the right one and ensure your intentions are carried out in the most efficient way.
Are you a HENRY? High Earner Not Rich Yet?
We understand allocating your money each month is a challenge. Your lifestyle is costly to maintain and you don’t have time to skip on those convenience meals out or give up your home in the city to lengthen the commute.
By bringing structure to your personal finances and giving you clear direction, we make sure your money is used for what’s most important to you.
Problems you might be facing
High income tax. Helping you navigate the years where your income tax is sky high is important. You could be making costly mistakes around pensions and could be tempted by higher risk tax advantaged investments.
You are a target. Various ‘experts’ are suggesting you place your money in the next big thing. Maybe you have lost money in crypto or the investment in your your mate’s ‘great idea’ just isn’t paying off.
The MUVADO 100 day plan provides you with a one page financial plan that is easy to follow and keeps things simple. Our membership updates your plan regularly and coaches you towards a better future. Around that you will also benefit from our investment, tax and financial planning expertise.
We provide the perfect program for a busy professional. Why not give us a call and find out more.
When someone close to you has died it can be a shock. Perhaps the shock has been compounded by an inheritance you weren’t expecting and now you have more money than you’ve ever had before. You want to use it wisely and don’t want to waste the money someone has worked so hard to make.
By going through the MUVADO 100 day plan you can gain clarity on the best use of an inheritance to meet your personal goals and create a positive impact on those around you. There’s rarely a black and white answer to the best use of an inheritance, it could be a combination of
- Paying down your mortgage debt
- Save for a rainy day
- Put it towards your financial independence fund
- Gifting to those closest to you or to selected charities
We can quickly establish the best course of action for you. The person who has left you with the inheritance can be proud of the decisions you make and you will have repaid the faith they had in you to use the money for good.
By joining the MUVADO membership we can continually update your plan and make sure your inheritance is used for the best purpose at all times.