 | |
| |
 |
Parenting |
|
Honey I Can't Afford The Kids
Sex has a lot to answer for ? babies usually ? which then with time and much financial investment grow up to be beautiful mutations of their parents. Yet as the family absorbs more money as it grows, the need for financial planning and protection becomes more important. So, where do you start and how do you move your finances forward? First of all there are "The Considerations": * If surplus funds become available, could these be invested? If so, will you choose a medium or long term investment? * Will you need an emergency fund? * Will you need to save for short-term events such as Christmas, holidays and birthdays? * Are you ready to save for a pension? Do you need to include your partner in a pension plan? * How much financial planning do you want to do your children? For example, is private education an option or priority and do you want to start saving for university fees? * How much borrowing will you need to do for buying a home and is it worth considering a mortgage payment protection plan? * Is life insurance or life assurance worth considering as security for your partner and family? * Do you need income protection insurance? * Are all of your belongings and possessions adequately covered by household insurance? Then there are "The Resources": * Have you taken advantage of all the family finance government initiatives involved? These include Child Benefit, Child Tax Credits, Child Trust Funds (CTFs) and the Educational Maintenance Allowance (EMA) scheme. Directgov is an excellent resource for information on public services (http://www.direct.gov.uk/Homepage/fs/en ) * Do you have the best possible deal on your finances? This includes your credit card, any secured or unsecured loans, your mortgage, remortgage and insurance. If you're not sure, it's not difficult to do some investigative homework. Moneyfacts ( http://www.moneyfacts.co.uk ) and Moneynet ( http://www.moneynet.co.uk ) are two popular sites for consumer research on financial products. If you live in the US, the website Lowermybills may prove helpful (http://www.lowermybills.com/ ). And that's just when the kids are still young. Once they're well established at school, you may wish to still evaluate the emergency fund, medical insurance and protecting your income against illness. The risks may change as the family develops so don't think that financial planning is a one-off event. Keep these issues in mind as your funds change. As you get older you may wish to consider writing your will and inheritance planning, planning for long-term care, protecting your capital, continuing your income should anything happen to your partner and even indulging your grandchildren. There are a variety of publications from companies such as Which? that can help you tackle what may seem like impossibly complicated tasks. If you're aware that one of the above issues needs to be tackled, don't neglect the gut feeling. Ask around for financial advice, but be aware that you need to be the decision maker, so gather as much information as you can and then make an informed decision. If the advice is conflicting, accept that financial success may always be based a little on luck and risk, though nothing excuses thorough research and planning. Read the papers, surf the web and ask around: the information is accessible! Resources: http://www.direct.gov.uk/Homepage/fs/en (Direct Gov) About Rachel: Rachel writes for the personal finance blog Cashzilla: Cashzilla is a personalfinanosaurus. "Rachel" means sheep in Hebrew: "little lamb" or "one with purity". Cashzilla means financially savvy with great fiery ferocity. * * * * * * * * * * * * Contact details: Rachel Lane
MORE RESOURCES: |
|
|
|
RELATED ARTICLES
What is Hyperactivity in Attention Deficit Hyperactivity Disorder? Most of the ADHD kids that are seen in a private practice setting are hyperactive kids simply because they get into the most trouble. Their parents are usually pulling their hair out and saying, "We've got to get this child some help. How Often Does Child Sexual Abuse Get Reported? Not nearly as often as it should. Most child abuse victims never report the crime or get help in coming to grips with this life-changing trauma. Healthy Eating For Children: Six Simple Rules Rule #1 Make Every Bite Count!Everything your child eats should be nutritious. Children can be picky and inconsistent, so make sure that what they do eat is really good for them. Secrets from the Classroom: Avoiding Summer Learning Loss In June, elementary school children across North America cheered as they packed up their bags for the final time, and began a much awaited summer vacation. For many this two-month academic hiatus is cause for celebration. Parenting Your Teenager: Ask Questions Many parents seem to be more than a little confused about what they have a right to know about their teens.The question I often get goes something like this:"We want to know where our 16-year-old son is going to be, and who he is with. Gifted Children - Getting the Balance Right One of the challenges for parents with a gifted child is to encourage them to develop a range of interest outside the academic sphere that not only rounds them out but stops them from being isolated from their peers Gifted children are a diverse group of kids who are talented in specific areas such as mathematics, language, sport or music. Some gifted kids are mutli-talented excelling in a variety of areas. How Effective is Attend in Helping Children with Attention Disorders? In 1996-97 we were contracted by VAXA International of Tampa, FL to provide clinical, "real world" information on the effectiveness of their product called "Attend." Their product was a homeopathic nutraceutical medicine, meaning that it contains homeopathic medicines, plus nutritional medicines. The Long Journey Home Once upon a time, I thought I had it all. I had a child, a career, the world at my feet. Dads - What Family Legacy Are You Passing On to Your Children? Do you want to create a deeper, more loving relationship with your child?To begin, you can learn from your own father:Whether you consider him to have been a good father or not, you can use your experience to become a better parent to YOUR children.Patterns of behavior are often passed on unconsciously from one generation to the next. How to Create an Attitude of Cooperation Having been a parent educator and a PBS consultant for Ready to Learn for many years, I have had the unique opportunity to work with Head Start families, Child Care Providers, and parents as well as schools, organizations, and teachers all over the world just like you.YES YOU ARE A TEACHER. COMMITMENT: Teaching Children the Lessons of a Lifetime It's been said, time and again, that for a child to learn what is most important, he must be shown the lessons through example, not through words. And, if we are to nurture certain traits within our children, we must first develop those traits in ourselves. How Children Learn Nurture and TeachThe single most important thing caregivers can do for a child is provide a nurturing environment. By doing this, we influence children's brain development and their ability to learn. You Goofed? Hip, Hip, Hooray! Certainly we all want our children to excel. But it takes most kids years to find their strengths; if they don't try everything that comes their way --from kickball to spelling bees-- how will they discover their passions?One thing that parents can model is to value 'effort' and 'risk'. The Hardest Job I Ever Had I used to have a really challenging job. It was stressful and demanding, high pressure and large responsibilities. Influencing Adolescents - Guided Democracy You need to smart to be able influence adolescents. You need to be able to stand back a little, hold your tongue and wait your turn to speak. Are Parents Trying Too Hard? One of the implications of the current trend toward smaller families is that we now have a generation of parents who are willing to go to enormous lengths to give their children a good start in life.In the rush to ensure that children have a maximum amount of experiences many parents ferry children from one lesson to another after school and on weekends. Is Your Child Having Trouble in School? Did you know that the school system is only able to meet 50% of student learning needs?That's right! - only 50% of the student population is in an environment at school which enables them to be successful learners.The reason for this is not because of bad teachers. The Child Chef If you really want to get your children to eat better, and have a better understanding of healthy foods, let them help in the picking and cooking of those foods. When you go shopping, let your children pick out a fruit or vegetable to cook that week. 5 Ways To Help Your Kids Do Math Uh oh.Your kids arrive home with their school reports and it's poor marks from the math department. A Little Love, Please? Article based on a friend's experienceI just wanted to share an experience I just had with my daughters, Yee Ting and Yee Sin.Yee Ting is three years old this month while Yee Sin is only one-month old.
|
| home | site map |
| © 2011 |