Financial Planning for Growing Families

This episode’s guests Amanda and Gavin are working professionals with their first baby on the way. The couple know how to stick to a budget, but that’s where their financial smarts come to a screeching halt.

A new baby brings joy and excitement but also uncertainty and change. But Amanda and Gavin aren’t sure how to plan for new expenses like childcare costs. Can they manage three people and working from home in their two-bedroom apartment? Can they afford to buy a house or will it leave them stretched too thin?

In this episode of What Should I Do With My Money?, listen in as Eric, a Financial Advisor at Morgan Stanley, offers a framework to plan for the future and helps the couple figure out what to expect – about money – when they’re expecting.

For more information about this episode and the topics covered, check out our episode page https://www.morganstanley.com/ideas/planning-for-a-baby-financially-what-should-i-do-with-my-money-podcast.

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