Family Finances
Key financial decisions for your family happen at all life stages—whether it’s merging finances when you get married, budgeting to help afford everyday expenses when you have children, tax breaks to help you pay for child care and save for college, and how to protect your income for your family if anything happens to you.
Creating a Budget for Your Child’s Medical Expenses
It is important to have a plan in place for potential medical expenses. A CFP® professional can help you evaluate your family’s health care needs and create a comprehensive financial plan that covers your medical expenses today, as well as your potential future costs.
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If you are a parent or parents who are planning to adopt, here are some ideas to help you navigate your decision. Adopting a child offers the promise of a lifetime of possible returns that are immeasurable in financial terms. But the upfront costs of adopting could be substantial.
According to the U.S. Department of Agriculture, you may spend up to a half-million dollars over the first 18 years for a baby born in 2022. This wonderful life event requires financial preparation. Learn more about the four main financial considerations when preparing for a baby.
A summer job may be the first opportunity for kids to earn enough money to need to make more critical financial decisions. It is important to work with your child to help them manage their summer job income and help them become financially savvy.
There are various financial strategies that can help single parents plan for the future. One key to having a successful single parenting life is to create a financial plan and stick to it. Working with a CERTIFIED FINANCIAL PLANNER™ professional can be a great way to start reaching your financial goals.
Three important financial considerations for new parents are considering life insurance, saving for college/future education costs, and establishing a custodial account.
Has your mother been significantly involved in the big financial decisions with your Dad, or does he handle them on his own? Does she meet with financial advisers or brokers? Does she know where all the money is kept?
A CERTIFIED FINANCIAL PLANNER™ professional can help you develop and commit to a savings plan that lets you enjoy everything the summer has to offer without setting aside your long-term financial goals.
If you are providing support to an adult child and you aren’t sure if you can afford to do so, you may want to check in with a CFP® professional to be sure you are on track. Use the Find a CFP® Professional tool to locate an advisor.
Financial planning strategies can be complex for LGBTQ+ couples; to begin, where you live matters. As has been well documented, although there has been progress with equality on a national level, more work is needed at the state level.
Personal finances are one of the major causes of stress in a marriage. Before you get married, you and your fiancée should discuss these personal finance questions.