029 Tammy Symons- Kids are Expensive!

Listen to this episode

In this episode, KT and Tammy Symons discuss:

      • Financial changes to consider when you start a family
      • How to care for that child when both parents are working
      • Keeping insurance in mind
      • Planning for your child’s education

Key Takeaways:

      • Create a new budget – because your grocery bill, clothing bill and much more is going to change
      • If the parent leaving the workforce has the health insurance under his/her group policy, that needs to be addressed
      • It’s important to start saving for college as early as possible
      • If you started saving $100/month when your child is first born, you could end up with about $38,000 when your child attends college… if you wait until he/she is 4, you’ll end up with $26,000… If you wait until he/she is 10, you’ll end up with about $12,000

“The US Department of Agriculture came out with a study based on 2015 numbers, saying that the average kid from cradle to college costs between $175,000 – $375,000.” KT Thomas

Connect with Tammy Symons, CFP:

Website: www.newdaysolutions.com

Email: tammy@newdailysolutions.com

Phone: 800-834-2101

 

Click here to reach KT 

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT’s book- The Hardworking Woman’s Guide to Money 

 

Show Notes by Show Producer: Anna Nygren

Audio production by Turnkey Podcast Productions. You’re the expert. Let us help you prove it.

About the author, Kathleen

Kathleen Thomas, who often goes by KT, has over 25 years of experience in the financial services industry and understands the need for women to take control of their financial lives.

A Certified Investment Management Analyst, Chartered Life Underwriter, and Certified Financial Planner™ practitioner, Thomas earned her degrees in Finance and Political Science from Salem College.

Prior to founding NewDay Solutions, an independent Registered Advisor Firm, Thomas spent 20 years as a private wealth advisor for Ameriprise Financial Services. Many of her earliest clients continue to work with her.

Thomas is an avid long-distance runner and triathlon participant. She has completed the Boston Marathon seven times and the Ironman Distance Triathlon three times. She has volunteered as coach and mentor for Girls on the Run New Hampshire and Team in Training.

Raised in Newton, Massachusetts, Thomas now lives in Seabrook, New Hampshire, with her husband, John. They have one daughter.

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