If you are thinking of having children then you’ve probably looked at the costs involved. Most research suggests figures over $200,000 are needed to see a child from birth to adulthood. That’s enough to put anyone off. However, the truth is that these costs don’t need to be paid in one lump sum.

It’s not just childcare that’s expensive. Many people find that becoming parents themselves mean that their parents are getting older and need some help. That’s a further cost to be aware of.

Although this can seem daunting, especially as inflation starts to rise and costs spiral, it is possible to afford everything, providing you start planning today.

Get Professional Help

The first step in your journey should be taken straight away. It’s time to contact the experts in financial planning and get an appointment. They will guide you through what is possible with the funds you have available and how best to invest. In general, you can take more risks when you’re younger which will help your investment pot grow faster.

Clear Debts

Modern society encourages you to buy something when you want it. This is one of the main reasons people get into debt and struggle financially. You may have already created a variety of debts but it’s not too late to take care of them.

Start today, with the help of your financial planner. It’s usually best to tackle the smallest debts first as successfully paying these off will help to motivate you.

Eliminating debt will help to ensure you are in control of your finances.

Start Saving

The key to financial security, covering childcare costs, and looking after dependents is to get some savings. This can seem challenging when you have a wide variety of outgoings. But, all you have to do is save a small amount every week or month, and it quickly adds up.

It’s best to automate your saving, that way you don’t notice it and don’t miss the funds.

Consider Insurance

While you are planning for the future it is time to consider taking out insurance. As much as you don’t want something to happen to you, it is possible. If you die or suffer a permanent disability your ability to earn and provide for your family will be severely diminished.

Life insurance and disability insurance can help to protect your family from hardship, ensuring they can afford childcare and look after dependents.


Child care is expensive but the prices aren’t set in stone. You can save money by booking your place early or by paying in advance. It’s always worth asking. In addition, when dealing with childcare providers or even helping out dependents, consider if you can barter. For example, a childcare facility may need someone to cut the grass and keep things tidy. You can do this and reduce or even eliminate the fees. It’s a worthwhile sacrifice.

The same is true if you have to look after aging parents, negotiate what works best, consider your assets and your parents, and how you can create the best financial situation for everyone. Suddenly, everything is more affordable than you thought.


Andrew is a professional writer with 7+ Years of experience. His style and uniqueness inspire and educate readers throughout the world.

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