With baby #2 about to arrive any day now and the holidays quickly approaching, making sure we feel financially secure as a family has been on my mind more than ever. I may not be rolling in the dough like a jackpot winner but making sure that all our daily needs are met while preparing for the future at the same time gives me financial peace of mind. We’ve done a few things to try and make sure that we achieve our financial goals including:
- Emergency Funds: We’ve made sure that we both started and continue to save in an emergency fund. You just never know what the future is going to hold and having a nest egg to pull from when unexpected expenses hit makes the situation way less stressful.
- Planning for College: We also started a college tuition fund for Jake right away and hope to for this next guy as well. We may not always get to put as much as we’d like to in it but with a lot of family wanting to send gifts for him we sometimes discreetly suggest that a little gift in the college fund, even at $25, is better served than more toys.
- Starting Young: Finally, I try and communicate to Jake about money. Sure three-year-olds don’t have the greatest understanding of fiscal responsibility. I mean Mom and Dad are just never-ending piggy banks right? But even at his young age I have no problem having him hold our shopping list and then saying something like, “We need to put that back, its not in our budget this time.” My hope is that over time these conversations will provide him with an understanding that some things we need to save for and that sadly the money tree in the backyard does not exist. And in full mommy disclosure I often have a little something in my purse to distract him once he’s had to put back the item. One chocolate kiss can go a long way in avoiding toy aisle meltdown.
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I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.