12 Tips To Help New Parents Avoid Money Mistakes
“Don’t raise kids to have more than you had. Raise them to be more than you were.”
Parents should increase their efforts to save and invest, spend within their means, take a fresh look at workplace benefits, and utilize tax credits to prevent financial blunders.
By creating your estate plan, you will have control over your asset distribution to your loved ones during your lifetime.
There are several other tax credits that you can use if you have a child. Check with your tax professional for possible changes associated with the 2017 Tax Law.
Several Tax Benefits For Your Children
If the family’s primary earner passes, your life insurance should cover your fixed living costs as college tuition and other child care needs depending on their ages.
Life Insurance Is Essential For Growing Families
Your account earns interest, and if you leave the job, you may take the account with you.
Health Savings Account (HSA)
This account allows employees to contribute a portion of their pre-tax earnings to pay for qualified expenses.
Flexible Spending Account (FSA)
Your Employee Benefits Need
A Fresh Look
What may not have jumped out when you first started working there may be more important for your growing family now.
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