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The Wall Street Journal. Financial Guidebook for New Parents

ebook
1 of 1 copy available
1 of 1 copy available
A practical approach to affording your kids from cradle to college.
Bringing home your bouncing baby boy or girl should be an exciting time of celebration–not cause for worry about how you’re going to pay for feeding, clothing, and caring for your new bundle of expenses. The average family will spend between $11,000 and $16,000 during a new baby’s first year, and more than $200,000 before a kid’s eighteenth birthday. Unfortunately, a second child only doubles your costs, with little economy of scale for each additional baby.
Before you start using these statistics as birth control, take a deep breath and know that you can have a family and make a comfortable future for your children while saving for your own important goals. The Wall Street Journal Financial Guidebook for New Parents shows you the way, with information on how to:
• Safeguard your child’s well-being with wills, trusts, and life insurance
• Best weigh your child-care options and decide whether to go back to work
• Save on taxes with child-friendly tax credits and deductions plus tax-advantaged benefits at work
• Manage your family’s health-care costs
• Save for long-term costs by setting up a college fund
• Spend smart and save money at every stage of your child’s development
• Continue to contribute to your own retirement savings
From maternity (and paternity) leave to flexible spending accounts to 529 college plans, The Wall Street Journal Financial Guidebook for New Parents provides all the information you need to meet your child’s expenses while also protecting your family’s financial security.
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    • Library Journal

      Starred review from June 1, 2009
      Bradford, an associate editor at SmartMoney.com, presents a relevant and witty overview of the awesome task facing new parentsaffording their kids. She covers all the major issues, including child tax credits, the Family and Medical Leave Act of 1993, flexible spending accounts, and 529 plans; even wills, trusts, and disability insurance are considered. Bradford writes from a female perspective, and humor abounds: "Along with hemorrhoids and hormonal mood swings, meager maternity benefits are just one more harsh reality that no one warns pregnant women about." Considering the enormous and long-term expense of a new bundle of joy, her money-saving tips are sure to be popular. Bradford clearly grasps the mindset of new parents and keeps information complete but concise; the chapters on health care and college savings plans are so succinct that it would be nearly impossible not to understand them. Only the chapter "Where Should You Nest?" disappoints, as it is not broad enough to serve most readers. VERDICT Bradford's book offers a more comprehensive framework than Steve and Annette Economides's "America's Cheapest Family Gets You Right on the Money". Here's one work that all new and prospective parents worried about finances should consider.Tracy Mohaidheen, M.L.I.S., West Bloomfield, MI

      Copyright 2009 Library Journal, LLC Used with permission.

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  • English

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