Highlights of today's show:
- How much does it cost to raise children?
- What my wife and I have learned in year one of raising a baby
- You can spend a lot of money very quickly on babies if you aren't careful
- Babies do change your budget but don't have to cost an arm and a leg
- The all new JWFinancialCoaching.com blog to debut August 1
I posted last Friday on a USDA annual report that found it will cost about $300,000 to raise a child born in 2011 from birth to the age of 18. While I am a little skeptical about that number, today I share what my wife and I have learned about the financial costs of having a newborn.
We have learned a lot in our year about what to buy in terms of clothes, food, diapers and other necessities, both in the quantity needed and also where to get the best deals. Babies do add to the budget, but they don't have to cost an arm and a leg either. As long as you know where your money is going each month and have a plan, the transition should not be painful.
Finally, just a reminder that if you purchase The Major Components of a Healthy Financial Plan eBook in July you are eligible to receive $50 off any coaching package that I offer.
You can subscribe to future Podcasts through Feedburner, Stitcher SmartRadio, or iTunes. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page. In addition, if you have enjoyed the show for a while now, please leave a review of the podcast on iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes. Big thanks to my friend Glen Steinson for helping me create the video.
If you have any comments, questions, or ideas for future shows you can send them to me and I will integrate them into a future show. Email me at JWFinancialcoaching@gmail.com - Please put “podcast” in the subject line and keep your questions brief so they are readable on air.