Financially planning to start a family: buying a family home, cash flow during parental leave & big expenses
Australian Finance Podcast
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Financial Planning for Starting a Family
The chapter delves into the importance of financial planning when preparing to start a family, covering topics like buying a family home, managing cash flow during parental leave, and dealing with significant expenses. It emphasizes the need to start planning at least two years before the child is born to ensure flexibility and options, such as building an emergency fund. The discussion includes considerations like upgrading to a larger home, assessing potential income loss during parental leave, and taking advantage of employer benefits and government entitlements.
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