You’ve heard it before: life changes once you have kids. As the proud parent to a six month old baby boy, I can attest that the rumors are true.
Having kids brings a quite a bit of chaos to your life. And to try to get a handle on things we’ve read several of the popular contemporary baby books. In most of them the message is the same: apply a consistent routine. When your baby knows when to expect sleep time, feeding time, or play time, they gain confidence and often start to excel. In other words, routine = fewer moving parts, less chaos, and more confidence.
I think our personal finances have a lot do with this as well. When you have a kid your financial picture changes. You have different and greater obligations, and need to start thinking about college costs. The fewer “loose ends” you have with family finances, the less chaotic your family life will be and more you’ll thrive.
So to help us get a feel for the financial side of parenting, I’d like to welcome my guest Josh Brein to the blog. Josh is a Seattle financial advisor and president of Brein Wealth Management, LLC. He’s also a proud dad to his daughter Erin.
Today, Josh will share with us how your finances change once you become a parent, as well as essential financial moves new parents should make.
Welcome, Josh! Let’s get to it: