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Baby Proof Your Wallet: The Ultimate Guide to Preparing Financially for A Baby

The Personal Finance Podcast

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The Importance of a Wealth Protection Plan

If you do not have an emergency fund and you are about to have children, that is financially irresponsible. You absolutely need an emergency fund in cash in a high yield savings account so that you can protect your family long term. How much do you need? Well, the traditional advice is three to six months of expenses. When you have kids, bump that up to six months. Life gets a lot messier when you have kids in a good way and sometimes in a bad way.

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