Financial Considerations When Deciding How Many Kids to Have

When I was growing up, my mom, who was the second to the youngest in a family of nine children, was fond of two sayings when it came to the topic of having children. 

The first saying was, “All kids really need is love.”  The second saying was, “God will provide.”

When you are young, your parents influence your thoughts, and what you hear and learn from them becomes your normal.

I did truly believe that all kids really need is love.  Now, my husband and I have three kids of our own, and while we love them plenty, that isn’t enough.  Unless you have a high paying corporate or professional job, more often the decision as to how many kids to have depends on what kind of financial situation you are willing to have.

Living Expenses Grow As The Kids Grow

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Should You Buy Life Insurance for Your Child?

The very idea of buying life insurance for a child makes some people cringe.

Children, by their very nature, are energetic and full of life.

They are the face of the future.

It is impossible to imagine them not growing to adulthood, but unfortunately, sometimes children do die before reaching adulthood.

Should you buy life insurance for your child?

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Opening a Roth IRA for a Child – Help Your Child Get Ahead in Retirement

It is a little known fact that children who earn an income can open a Roth IRA.

Parents who have this knowledge can help their children learn about the power of compound interest and its near magical effect on retirement savings.

What Are the Requirements for Opening a Roth IRA for a Child?

A child can open a Roth IRA if they have verifiable income.  Their income can be verified through W-2 records, or if they were a freelancer, so to speak, mowing lawns or babysitting, they must claim their income on a tax return.

In addition, some brokers also request that a legal guardian be on the Roth IRA with the child until the child is of age.  However, not all brokers require this.

How Much Can Your Child Contribute

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5 Kids Expenses to Budget For – Apart from College

Most parents understand the need to prepare for their children’s college educations by budgeting money while the kids grow.

But there are other expenses—not on the magnitude of college—that are also worthy of budgets all there own.

If you have children who are at least in middle school, you already have an idea of at least some of them.

But if your kids are only a few years old or younger, you’ll need to start preparing for some of them right now, because the day for most or all of them is coming up fast!


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How to Save on Groceries When You Have a Food Intolerance

If you or a loved one has a food allergy or intolerance, you may be frustrated by your escalating grocery bill. 

In my own family, both my daughter and I have a dairy intolerance, and I just recently I found out I also have a soy intolerance.  When we first discovered our dairy intolerance nine months ago, we struggled with trying to keep our grocery bill low.

Now that it has been nearly a year, we have discovered some strategies to rein in our grocery expenditures.

Don’t buy substitutions.

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5 Ways Around the Student Debt Trap

We all want the best education for our children, but what if you can’t afford the perfect one? Do you saddle your aspiring college student with $50,000, $75,000–$100,000 in student loan debt upon graduation?

There are ways to avoid the student debt trap and still give your child a decent education.  True, compromises will be necessary, but with the cost of a college education spiraling out of control, there may be no other choice for many parents.
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