What It Takes to Financially Prepare for a Child
Newly released figures put the cost of raising a child at more than $300,000. This week, Julien and Kiersten Saunders share the pre- and post-baby costs you need to factor into your family-planning budget, what products and maternity items you can skip buying, and their No. 1 tip when it comes to spending.
Prices vary when it comes to having a child—from medical emergencies to formula costs to schooling—but no matter the case, there are still a plethora of expenses every future parent should prepare to absorb. It’s not just necessary to save money; it’s also important to plan the best and most efficient ways to spend it. Julien and Kiersten discuss the importance of setting up a health-specific savings account, what necessary budget adjustments to consider and ways to save money on baby supplies.
Julien and Kiersten Saunders, Money Editors for SUCCESS magazine, are the couple behind the award-winning blog and forthcoming book, rich & REGULAR. They are producers and hosts of the original series, Money on the Table, which blends their passion for food with thoughtful conversations about money
Julien and Kiersten Saunders, Money Editors for SUCCESS magazine, are the couple behind the award-winning blog and forthcoming book, rich & REGULAR. They are producers and hosts of the original series, Money on the Table, which blends their passion for food with thoughtful conversations about money