Are Your Finances Prepared For A Family Extension?
Having stable finances is liberating in the sense that it
equals well-managed and organized finances. Yet, the most
enjoyable and happy occasion in a couple’s life is the
extension of the family unit. Whether this is through
pregnancy or adoption, the joy is all the same.
The trouble, however, begins when your finances are not in
a suitable position to accommodate the needs of this
new individual. A clear sign of this is debt. When your
finances are causing you stress and unhappiness, then you
know that you are not ready for the responsibility of
added financial strain.
The best thing you can do for yourself is to first get
your finances in order. That just means getting organised
finances, by either learning to budget or by purchasing
finance software that will help you meet your savings
need. This is of course the ideal situation, but we do
not live in an ideal world.
Sometimes a pregnancy can happen unexpectedly before
have time to adjust financially. Yet there is still
time. You do not need to be a millionaire or an accountant
to have organized finances.
You do, however, have to be financially smart. Be goal
orientated and decide how you want your finances to
look like in a specific time frame; and then apply that
vision to now.
By being financially smart, you can decrease stress,
which could rob you of the joys that come with
If you take nothing else away from this article, heed this:
Be realistic and take charge before you are emotionally
eroded by debt. Don’t let your finances rule you. You must
Liberate yourself from the chains of finances through better
management. Removing the burden will free you to concentrate
on more important things in life, such as the arrival
of a new family member.