Hello and welcome back to the 360 Money Matters podcast! Having a family is a big life decision and financial expense. You want to make sure your children have their needs cared for, and not just the immediate ones like diapers or food, but including things in the far future university tuition and car deposits.
For this episode, we discuss how you can determine the right facilities and vehicles for your children’s savings for the future as well as all the factors to consider when making a financial plan. Things may not always go according to plan, but with proper long-term planning that starts as early as today, you can give yourself and your family the best opportunity to offset that impact and maximise what you’ll have.
Don’t forget to listen to this episode so you can get started on creating a stable financial future for your family!
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis and Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorised representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights:
• Two main considerations when financially planning for a family.
• The importance of having a clear line of sight for future expenses.
• Decide on what goal you want to achieve first.
• How to facilitate your savings for the short-term and long-term.
• Determine your tolerance to risk.
• Once you have determined the goal, you can determine your best strategy.
