Starting a family

Welcoming a first, second or third child may be one of the most exciting and overwhelming times of your life. With a new child comes a new budget with many changes and a whole new life stage.

Financial decisions need to be made and it certainly pays to plan well ahead for such a significant time in life-especially if there's the chance your situation means changing from two incomes to one for any length of time. The cost of child care or an income reduction will have a financial impact throughout the child's lifetime and both or one parent may continue working and, depending on what's best for your family, the cost of child care while you're at work or a reduction in income will have a financial impact. The financial costs associated with having a baby can be surprising and related costs in raising the child need to be considered also.

When preparing for the arrival of your child, you may find yourself meeting the initial costs of furnishings for the nursery while you consider the day-to-day costs of looking after a baby. Some decide to buy another car while some may think about a larger home with a bigger backyard. The time also arrives when the options and costs for a child's education need to be considered.

Your Charter adviser can ensure these expenses are planned for, that your family and all you have worked hard to gain are protected and you can give your children the best start to life - regardless of what life brings.

To speak with a Charter financial adviser today Email us or call on 1800 106 017.