Starting a Family

There are a lot of uncertainties involved in starting a family – from choosing the right pram and cot, through to 3am negotiations as to who will get out of bed to pick up your crying baby.

Starting a family also has its own unique set of financial challenges that you’re likely to encounter for the first time. You move from two incomes and no dependents, to a single income household with two dependents. This means that your spending and saving habits will change drastically. You will have to start thinking about what type of education you want for your children, plus how you plan to save for school fees, uniforms etc. You may want to move from a unit to a house with a backyard. Plus, you now have much greater financial responsibilities to your new family’s wellbeing. These changes and new level of responsibility are a great time to seek Financial Planning services in Sydney to ensure that you and your family are financially protected in the event of illness or injury, and have a financial plan in place to secure your new family’s future.