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Need to plan for your growing family?

Tackle the financial side of parenthood with ease
and confidence

You’ve decided to start thinking seriously about having kids, adopting, or maybe you’re already expecting a baby on the way; this can be a daunting time financially for many people.  

As you consider how being a parent will change your life, I’m sure you have spent time considering how adding children to your family will affect your finances.  At this time of life, there are often a new set of financial challenges to consider.

But starting a family doesn’t have to be a financial negative. With our clients, we work hard to to ensure their children get the best out of life, while their parents enjoy your own life without financial stress.  With the right kind of financial advice, balancing a family and your unique financial needs can feel more simple and straightforward that you might expect.

Just a few of the everyday families we continue to help include:

  • Young couples having their first child or adding another child to their family
  • Stepparents or those who are combining their existing families
  • Single parents who want to know how to do more with a single income
  • Same-sex couples who may be seeking alternative methods to grow their family
  • Unmarried partners or those wanting to protect both themselves and their children

No matter what your family looks like, a financial roadmap for your current challenges and beyond can get you set up for a great future.

What a clear financial plan can provide

Review budget & cashflow

Review budget & cashflow

Review and adjust your budget to plan for any new additions to your family, or plan and manage on a reduced income during parental leave. Understand your cashflow challenges with additional expenses, and ensure that money is still going towards future goals and needs.

Set new financial goals

Set new financial goals

Set and stick to clear financial goals that consider your growing family, including long-term planning for education, extracurricular activities such as sports, or family home changes.

Plan for unexpected costs

Plan for unexpected costs

Ensure you have financial planning in place to cover unforeseen events, whether that is injury, disability, travel, or children’s achievements.

Protect your family from risk

Protect your family from risk

Protect your assets and income with the right insurance and risk management strategies, helping safeguard your wealth and provide stability for your family.

Manage changing housing needs

Manage changing housing needs

As your family grows, you may need to plan for changing needs in regards to housing. This might include upsizing your house, increasing your housing expenses (whether renting or through a mortgage), and renovation costs.

Estate planning and long term legacy

Estate planning and long term legacy

Update your estate planning and legacy strategies, ensuring your loved ones are provided for. This can include updating your will, creating binding death benefit nominations, and setting up an ongoing investment strategy for your children.

Keep your own finances on track

Keep your own finances on track

We help you understand how children will affect your personal finances on every step of your journey, and ensure that your current and future wealth will continue to progress, including funds for retirement.

Review budget & cashflow

Review and adjust your budget to plan for any new additions to your family, or plan and manage on a reduced income during parental leave. Understand your cashflow challenges with additional expenses, and ensure that money is still going towards future goals and needs.

Set new financial goals

Set and stick to clear financial goals that consider your growing family, including long-term planning for education, extracurricular activities such as sports, or family home changes.

Plan for unexpected costs

Ensure you have financial planning in place to cover unforeseen events, whether that is injury, disability, travel, or children’s achievements.

Protect your family from risk

Protect your assets and income with the right insurance and risk management strategies, helping safeguard your wealth and provide stability for your family.

Manage changing housing needs

As your family grows, you may need to plan for changing needs in regards to housing. This might include upsizing your house, increasing your housing expenses (whether renting or through a mortgage), and renovation costs.

Estate planning and long term legacy

Update your estate planning and legacy strategies, ensuring your loved ones are provided for. This can include updating your will, creating binding death benefit nominations, and setting up an ongoing investment strategy for your children.

Keep your own finances on track

We help you understand how children will affect your personal finances on every step of your journey, and ensure that your current and future wealth will continue to progress, including funds for retirement.

Girl uses tablet in kitchen with mum, other mum holding baby

Don’t face the financial challenges alone

When you first think about starting a family, it can be easy to get caught up in the excitement of this new chapter in your life. But planning for parenthood also comes with a whole new set of financial challenges to navigate.

When you have a family, it’s often the busiest and most expensive time in your life. Many people forget about planning adequately for the future because of the pressures of right now.  Working with a financial adviser means that you won’t have any gaps in your financial situation.

These financial challenges can include:

  • Effectively managing a budget with children to consider
  • Maternity or paternity leave, or stopping work for a period of time
  • Understanding the pros and cons of childcare versus stay-at-home parenting
  • Affording large expenses, such as school fees and extracurricular activities
  • Balancing your future financial goals with the needs of your growing family
  • Considering whether or not to find a bigger home

When it comes to the financial aspect of growing your family, we’ve got you covered.

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