Financial Planning Tips: Marriage and Parenthood

Getting married and having children are as much financial milestones as emotional ones.Father and Son

Marriage. A few questions you should consider before (and shortly after) the wedding:

Parenthood. An average family in 2000 spent about $165,000 to raise a child to age 18. Those numbers DO NOT include college. It is critical that you protect your family’s financial security by making sure funds are available to care for them in normal times and in times of disaster. Also, be sure to have a will detailing how your children should be cared for – and by whom – in the event of your death. While finances may not be at the top of your mind during these exciting life events, they should certainly be part of the conversation to ensure proper planning for your future.

See also:

Financial Tips for Home Ownership

Financial Tips for Your Child's College Education

Financial Tips as You Begin Your Career

Financial Tips for Life

Financial Tips for Saving Money

Financial Tips for Mergers and Acquisitions

Copper Leaf Financials’ team of CPAs and experienced financial planners have worked with clients for more than 15 years to help them achieve their short and long-term financial objectives – mindful of the need to adjust strategies as life circumstances evolve.