Drug testing

Honey I Can?t Afford The Kids

Sex has a lot to answer for ? babies usually ? which then with time and much financial investment grow up to be beautiful mutations of their parents. Yet as the family absorbs more money as it grows, the need for financial planning and protection becomes more important. So, where do you start and how do you move your finances forward?

First of all there are "The Considerations":

* If surplus funds become available, could these be invested? If so, will you choose a medium or long term investment?

* Will you need an emergency fund?

* Will you need to save for short-term events such as Christmas, holidays and birthdays?

* Are you ready to save for a pension? Do you need to include your partner in a pension plan?

* How much financial planning do you want to do your children? For example, is private education an option or priority and do you want to start saving for university fees?

* How much borrowing will you need to do for buying a home and is it worth considering a mortgage payment protection plan?

* Is life insurance or life assurance worth considering as security for your partner and family?

* Do you need income protection insurance?

* Are all of your belongings and possessions adequately covered by household insurance?

Then there are "The Resources":

* Have you taken advantage of all the family finance government initiatives involved? These include Child Benefit, Child Tax Credits, Child Trust Funds (CTFs) and the Educational Maintenance Allowance (EMA) scheme. Directgov is an excellent resource for information on public services (http://www.direct.gov.uk/Homepage/fs/en )

* Do you have the best possible deal on your finances? This includes your credit card, any secured or unsecured loans, your mortgage, remortgage and insurance. If you're not sure, it's not difficult to do some investigative homework. Moneyfacts ( http://www.moneyfacts.co.uk ) and Moneynet ( http://www.moneynet.co.uk ) are two popular sites for consumer research on financial products. If you live in the US, the website Lowermybills may prove helpful (http://www.lowermybills.com/ ).

And that's just when the kids are still young. Once they're well established at school, you may wish to still evaluate the emergency fund, medical insurance and protecting your income against illness. The risks may change as the family develops so don't think that financial planning is a one-off event. Keep these issues in mind as your funds change.

As you get older you may wish to consider writing your will and inheritance planning, planning for long-term care, protecting your capital, continuing your income should anything happen to your partner and even indulging your grandchildren. There are a variety of publications from companies such as Which? that can help you tackle what may seem like impossibly complicated tasks.

If you're aware that one of the above issues needs to be tackled, don't neglect the gut feeling. Ask around for financial advice, but be aware that you need to be the decision maker, so gather as much information as you can and then make an informed decision. If the advice is conflicting, accept that financial success may always be based a little on luck and risk, though nothing excuses thorough research and planning. Read the papers, surf the web and ask around: the information is accessible!

Resources:

http://www.direct.gov.uk/Homepage/fs/en (Direct Gov)
http://www.moneynet.co.uk/ (Moneynet)

About Rachel:

Rachel writes for the personal finance blog Cashzilla:

Cashzilla is a personalfinanosaurus.

"Rachel" means sheep in Hebrew: "little lamb" or "one with purity".

Cashzilla means financially savvy with great fiery ferocity.

* * * * * * * * * * * *

Contact details:

Rachel Lane
http://www.cashzilla.co.uk
rachel@positiveinterest.com
0131 561 2251

In The News:

A unique 2,000-year-old stone inscription unearthed in Israel has thrilled archaeologists.
A fire and rescue squad in California said they’re trying to find the owner of a tortoise that was discovered by paramedics Thursday taking a slow-and-steady stroll in El Cajon.
One of the most prized possessions of Brazil's National Museum has been found amid debris after a massive fire on Sept. 2 sent the building up in flames.
A 12-pound meteorite that blasted from the moon was sold at a Boston auction for the out-of-this-world price of $612,500 on Friday.
California residents were stunned to watch a fireball of space junk shoot across the sky and fall onto a nearby ranch last week.
Golfers in St. Petersburg, Florida, were shocked when they saw a massive rattlesnake slithering across the course.
New Jersey workers were cleaning up the Pequannock River in Bloomingdale's Sloan Park to prepare for a flood mitigation project Thursday when they spotted a stone with an unusual marking.
An extremely rare menu from Titanic’s doomed maiden voyage to New York is up for auction in the U.K. this weekend.
An invasive insect species native to China, India, and Vietnam is posing a problem in at least two states in the northeastern and southeastern part of the country.

Whos Teaching Your Child About Money?

Managing money is one of the most critical skills we... Read More

Single Parents: Give Yourselves Credit

Single parents are not often thought of as good parents.I... Read More

Parents Rights Violated By Public School Compulsory Attendence Laws

Compulsory attendance laws are school authorities' first assault on parental... Read More

COMMITMENT: Teaching Children the Lessons of a Lifetime

It's been said, time and again, that for a child... Read More

Its OK to Say No

In the last 20 years we've all been introduced to... Read More

Childrens Friendships Made Easy

Most research into children's friendships shows that those children who... Read More

The 5 Babysitter Commandments

Having a babysitter take care of your kids is sometimes... Read More

Friends Are A Gift You Give Yourself

My oldest boy is fifteen and was a real jerk... Read More

Alias: Aptitude

Be aware. You may become totally overwhelmed when you get... Read More

Water Hazards For Young Children

Unfortunately each year many young children drown in swimming pools,... Read More

Parents of Toddlers and Pre-Schoolers: 7 Universal Laws

1. The Law of the BeastAs parents we need to... Read More

Meningitis and Septicaemia

Meningitis is an inflammation of the membranes around the brain... Read More

Busy Moms, Dont Forget to Take Time Out for You!

As mothers, we play so many different roles and most... Read More

Mothers Day Tribute

As Mother's Day approaches I would like to give a... Read More

Empty Nest Syndrome

Paula's last child had just gone off to college and... Read More

ADHD: A Dialogue With a Non-Believer, part three

Dear Sir, It was with some interest that I read... Read More

Eco-Parenting

Arabella Greatorex, owner of The Natural Nursery, reports on the... Read More

?Gimme? Proof Your Kids: How To Keep Your Child?s Materialism In Check

It's the first day of the summer holiday. Five year-old... Read More

Parenting Your Teenager: Driving and Having a Car is a Privilege, Not a Right

Q. My teenage son is turning 16 early next year... Read More

Now, They?re Bullying My Daughter in Our Home: Welcome to Cyber-bullying

Last night Tom's daughter, Sue, came out of her room... Read More

Choosing a Daycare or Pre-School ? Top Ten Safety Tips

When it's time to put your child into a daycare... Read More

Consistent Boundaries Makes Discipline Easier

Homes should be run by parents, not children. So many... Read More

Two Means Trouble

You have two kids who are 14 months apart. How... Read More

Is Your Child Learning Nothing?

You send your child to school and the teachers teach... Read More

The Worlds Greatest Dad

You are in the final round of your favorite game... Read More

street light music induction lighting versus led Pete's produce ..