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Home ownership and a baby: Can you afford both?
Jun 19, 2024
Certified financial planner Shannon Tatlock joins the discussion on young parents managing finances while starting a family. Topics include saving for a downpayment, budgeting for maternity leave, living with in-laws for financial savings, and the challenges of owning a home versus having children.
25:37
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Quick takeaways
- Balancing homeownership and having a baby requires strategic financial planning.
- Some parents prioritize immediate family needs over long-term savings to adjust to unexpected life events.
Deep dives
Challenges of Upsizing Living Space After Having a Baby
Having a child often necessitates more living space, leading to financial challenges for many new parents. With housing costs rising, the dream of owning a home alongside starting a family seems daunting. The podcast discusses how some parents face the dilemma of needing to upsize from their current living arrangements to accommodate their growing family, highlighting the financial strain associated with renting or purchasing larger homes.
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