CFP: How to know if you have enough money to start a family - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 61 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

A certified financial planner shares a budget and 3 financial pillars that can help you determine if you're ready to have kids

, 31% of participants who were asked about COVID-19 said the pandemic has prompted them to postpone their plans for having kids. Of that group, 41% said that's because they're worried about their finances.

Lauren Anastasio, a certified financial planner with SoFi, said since the onset of the coronavirus pandemic she's seen individuals and couples asking questions like, "What if I lose my job? What if I lose my insurance? What if I need to start dipping into my emergency fund? Can I afford to both take a pay cut and have a baby?"

Anastasio tells clients that, in the context of planning a family, there are three "pillars" to financial stability. Before we get into those, a word of caution from Anastasio: Having kids is a highly personal decision that a financial planner can't make for you. Only you can know whether you feel ready.1. You have an emergency fundshould cover three to six months of expenses, Anastasio said. This is "more important now than ever," she added, given the current health crisis and soft labor market.include student debt.

Instead think credit-card balances, personal loans, and unsecured lines of credit. Anything with 7% interest or higher counts as high-interest.The funds coming into your bank account should comfortably cover your existing obligations, Anastasio said, while also allowing you to save for retirement.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How to start a side hustle online to make extra money from home - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Hey there, most people don’t fully understand of this method that makes it possible to pull in money online! Let me show you how. You NEED to before the free offer ends!
Source: BusinessInsider - 🏆 729. / 51 Read more »

Planet Money's Adam Davidson: 'passion economy' business is the future - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. If you want to take your website to the first page of Google contact now
Source: BusinessInsider - 🏆 729. / 51 Read more »

20 quotes from self-made billionaires that will change your outlook on money - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. TSM_Holdings 👏 I wonder why BI isn't reporting on Bidens ties to China
Source: BusinessInsider - 🏆 729. / 51 Read more »

TikTok: What we know about Oracle partnership and Trump's China fears - Business InsiderOracle, TikTok, and the Trump administration have reportedly 'tentatively' reached a deal. Here's everything we know about the partnership that could save TikTok from Trump's threats of a US ban. hope not its a big mistake for america we must ban tiktok I believe the correct position is to be against Facebook's buying Instagram on antitrust -AND- to be against Tiktok operating in USA when China blocks all our our apps. I am a democrat. Both issues have nothing to do with Trump I still hope Tiktok is banned not sold. Do you remember when China stole Alipay from Yahoo? That is ANT FINANCIAL Yahoo owned 40% of it now worth $80 billion of the $200 billion marketcap. China stole from us. Yahoo didnt get a dime from Alipay
Source: BusinessInsider - 🏆 729. / 51 Read more »

8 essential steps founders must take when writing a business plan - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. 1- I will take it all 2- I will take it all 3- I will take it all 4- I will take it all 5- I will take it all 6- I will take it all 7- I will take it all 8- I will take it all 😅😇 Or we can always leave it to the pros, with some personal input.
Source: BusinessInsider - 🏆 729. / 51 Read more »