Financially Prepared for Children
Since we have 4 children, my wife and I can tell you that nothing makes you reevaluate your finances more than a new baby!
Being financially prepared for children takes a lot of work. I mean, just the amount of stuff you need for a tiny baby is astounding! Not to mention it’s now reported that it costs a quarter of a million dollars to raise a child!
But don’t let that scare you.
Start with a budget and spend significantly less than you make. Then save, one day at a time, especially if either spouse is changing their employment status when the baby arrives.
And of course, remember Psalm 127:3, “Children are a gift from the Lord; they are a reward from him.”
To get started on a baby-friendly budget, visit crown.org/money