The Fourth P.E.C.K. focuses on the Kids

Money is almost always a touchy topic when it comes to relationships, and it does not get easier to discuss when you get married.  It is just good common sense to know about your intended’s money language, money comprehension and money fitness. This is the fourth and last installment of our P.E.C.K. pre-wedding money conversations!  Our first installment spoke of the “P’s” – Practical.  The second installment addressed the “E’s” – Emotional.  The third covered “C’s” – Contractual.  This installment is on the “K’s” – Kids All couples want their children to thrive, though this means different things to different people.  Your idea of how to care for your children’s money needs, expectations and desires are so important to explore together.  Let’s talk about the top nine kids and money questions to ask your intended before your baby’s first cry. 1 – How do you feel about gifts and toys? Some families have birthdays and holidays that are flowing with gifts – other families believe that too many gifts make all gifts seem unimportant.    Some families feel too many toys are a distraction and others want more than enough.  It’s a good idea to know where your spouse is coming from early, to help keep a unified front.  It is simply practical to discuss this before your in-laws shock you with the opposite of what you expect. 2 – Do you want to send your kids to private school? Private schools can be a good family fit, though the cost can be prohibitive.  If you feel it is very important that your children got to private schools, it is a good idea to speak about your hopes and dreams for your children before they step foot in school and to open an educational savings plan to help manage school fees.  A qualified financial advisor can sort through the options available to you and help you choose the appropriate plan. 3 –… | Read More »