{"id":4868,"date":"2019-11-18T08:59:48","date_gmt":"2019-11-18T00:59:48","guid":{"rendered":"https:\/\/www.infinitysolutions.com\/?p=4868"},"modified":"2019-11-08T15:58:40","modified_gmt":"2019-11-08T07:58:40","slug":"having-a-child-is-a-financial-challenge","status":"publish","type":"post","link":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/having-a-child-is-a-financial-challenge\/","title":{"rendered":"Financial Challenge As A Parent"},"content":{"rendered":"

20th November 2019 is Universal Children\u2019s Day, marking the day the UN Convention on the Rights of the Child was adopted setting out children\u2019s rights including the right to life, to health, to education and to play, as well as the right to family life. This obviously lays some pretty serious obligations accompany with financial challenge on parents.<\/p>\n

The fact is that the minute you become a parent you also become someone with responsibilities. Not only the responsibility of keeping your child physically safe, well fed and emotionally balanced but also the financial responsibility of providing for their every need. That\u2019s relatively simple for most of us when they are little \u2013 food, clothes and possibly nursery fees and you\u2019re done. But as they change from cheeky-faced toddler to self-conscious teen the costs go up and up as they need a laptop to study on, a mobile phone that won\u2019t make them cringe with embarrassment, clothes that cut the mustard with their peers and handouts to support their blossoming social lives. And then there is higher education which looms on the horizon, filling parents with dread at the horrendous fees that involves. How do parents cope?<\/p>\n

The simple answer is by planning, which is actually best started before the cheeky-faced toddler stage as soon as you know a child is on the way. Here\u2019s how to do it:<\/p>\n