This column was written by Edward Jones for use by local financial advisers. Its appearance in The Boyne City Gazette is sponsored by Ruth Skop at(231) 582-3416.
When you add a child to your family, either through birth or adoption, it’s obviously an exciting and joyful time in your life — and it’s also a busy one, as you deal with all the challenges and commitments faced by all parents. However, hectic as your life may be, you’ll still need to think about making some key financial arrangements to accommodate your new child.
Here are some suggestions to consider:
Of course, you don’t have to take care of all these items at once. But by methodically working your way through this list, you will eventually adjust your overall financial strategy to include your new child — which means you’ll be helping your growing family make progress toward its important goals.