Financial Planning for Families with Young Kids with Emily Benedetto

Today, Mary Beth is joined by Abacus advisor, Emily Benedetto to discuss financial planning for families with young kids. Emily brings a wealth of knowledge and practical advice for young parents grappling with the new financial responsibilities that come with expanding their family. Mary Beth and Emily discuss everything from managing emergency funds, life insurance, the importance of discussing money openly, to how to save for your children's future. Whether you're expecting your first child or navigating financial planning with little ones running around, this episode is packed with valuable insights. 

For additional resources, information, and a full transcript of the episode, visit our website. To access our podcast disclosure information, visit this page.

What You’ll Learn in this Episode:

• The reason having an emergency fund is a necessity, especially with young kids
• Some savings adjustments you can make to continue to focus on your financial goals and meet the needs of your littles
• Two things you should take care of within the first year child’s life
• How to manage the cost of childcare and other options to consider
• When right time is to be thinking about your kids’ college savings
• The importance of revisiting your financial plan once your child has been born
• Ways to make ends meet without breaking the bank 
• Adjustments you can make to your financial decisions, so it doesn’t feel like you’ve pushed your financial goals aside for your kid
• The importance of having open discussions with your partner about money

Resources Mentioned on the Show:

• How to Teach Your Children About Money with Gabe Brenner

Stay Connected:

• Reach out to Email at [e-mail] or on LinkedIn
• Connect with Mary Beth on Twitter, Instagram, and on LinkedIn 
• Connect with Neela on Twitter, Instagram, and on LinkedIn
• Join the Abacus community by connecting with us on Facebook, Twitter, Instagram and on LinkedIn