Recommended
More Related Content
Similar to 5 Biggest Financial Mistakes Young Parents Make.pdf
Similar to 5 Biggest Financial Mistakes Young Parents Make.pdf (18)
More from Rohan671301
More from Rohan671301 (20)
Recently uploaded
Recently uploaded (20)
5 Biggest Financial Mistakes Young Parents Make.pdf
- 1. 5 Biggest Financial Mistakes Young Parents Make Blog / By Imperial Money / September 9, 2022 / 5 Biggest Financial Mistakes, Mistakes Young Parents Make., money mistakes Parents Make. Avoid Making These Financial Mistakes If you’re a New Parent:- Having a child changes your reality in an interesting way. You’ll most likely notice that within a couple of years after becoming a parent, your needs will have changed dramatically, and your primary focus in life will be ensuring a bright future for your child. When you become a parent, your financial situation is also likely to change. There are numerous essential costs, ranging from clothing to food to possibly purchasing a larger home for your growing family. Archives September 2022 August 2022 July 2022 June 2022 May 2022 April 2022 March 2022 February 2022 December 2021 November 2021 October 2021 September 2021 July 2021 June 2021 May 2021 April 2021 February 2021 November 2020 October 2020 September 2020 August 2020 Search … CLIENT LOGIN Home About Us Services MF Tools Research Blog Contact Us
- 2. Get an Expert’s Solution for Your Child’s Education at – https://www.imperialfin.com/education- calculator/ As a result, you must budget properly as well as plan for what is going to come. The list below is a list of the most common financial mistakes that are made by inexperienced parents. Parents Must Avoid Financial Mistakes:- 1. Parents Avoid Their Financial Condition Whenever you have a child, you’re committed to them. Even though every parent wishes to fulfill all of their children’s demands, financial restrictions make this difficult. In reality, spending money on expensive items for your children can sometimes pay off. However, think about the fact that as your family grows, so will the expenses. Then there will be emergency situations that will occur in your life for which you must be prepared. Therefore, as an outcome, planning is necessary for a stable financial future. Once you set up a budget, you are more likely to establish a support system for your life. After all, you shouldn’t be taking any chances when you already have a baby dependent on you. 2. Not Planning Your Child’s Education Budget Not saving for a child’s school and the university has been one of the most common mistakes that parents make. It is indeed costly to attend college, and the cost increases annually. Your child might need to borrow money for college if you don’t start saving for this now. Student debt can be extremely taxing. They might make it hard to purchase a property or anything you need. They may also make it challenging to save money for the future. 3. Meeting All Of Your Child’s Demands July 2020 June 2020 March 2020 February 2020 January 2020 December 2019 October 2019 September 2019 November 2018 July 2018 Recent Posts 5 Biggest Financial Mistakes Young Parents Make 5 Bad Habits You Need To Change To Improve Your Finances. Power of Compounding in Mutual Fund 10 Investing Mistakes That May Damage Your Wealth How to Handle Bear Market in Retirement?
- 3. Every parent wants to give their kids everything they need to succeed in childhood. They buy all of the things they lacked as children. Please stop if you are doing this because you are totally unreliable. As the child gets older, the costs rise. It’s easy to give in to the pressure to always buy the newest brand-name gadgets, games, and clothing. Not practicing restraint is being done. If you give in to all of their requests, they might develop unrealistic expectations that will last the rest of their lives. 4. Not Saving For Your Child’s Future Generally speaking, it is better to save money for your child’s future instead of purchasing expensive accessories and extra clothing. They’ll be grateful to you in the coming years for helping to support their education, pay for hobbies, or even give them a stable upbringing. 5. Not Asking for Professional Help Many parents in India believe that hiring a financial distributor is a waste of money. They believe they can handle things themselves. But this is incorrect. Numerous financial experts are available to assist us all with our finances. An investment management company can assist you with budgeting, retirement solution, and making investments for the future of your kids. Contact Us: 9595889988 Email Us: wecare@imperialfin.com Follow Us: https://www.facebook.com/imperialfin/ Follow US: https://in.linkedin.com/company/imperialmoney Download App: https://play.google.com/store/apps/details?id=com.iw.imperialmoney Subscribe to YouTube Channel: https://www.youtube.com/c/IMPERIALMONEY ← Previous Post
- 4. A company with high customer satisfaction rate since mid 2011, Imperial Money had engaged in providing comprehensive Financial distribution services to individuals. We help you to make smart investment choices with your money to get optimum returns. Quick Links Client Login MF Tools Downloads Blog Market Updates Financial Calculators Our Services Tax Savings Mutual Funds Insurance Equity Investment Get In Touch 302, Royal Vista, Opp. Dhantoli Garden Main Gate, Dhantoli, Nagpur - 440012 (+91) 9595 8899 88 (0712) 2454477 wecare@imperialfin.com Imperial Money Pvt. Ltd. makes no warranties or representations, express or implied, on products offered through the platform. It accepts no liability for any damages or losses, however caused, in connection with the use of, or on the reliance of its product or related services. Unless otherwise specified, all returns, expense ratio, NAV, etc are historical and for illustrative purposes only. Future will vary greatly and depends on personal and market circumstances. The information provided by our blog is educational only and is not investment or tax advice. Mutual fund investments are subject to market risks. Please read all scheme related documents carefully before investing. Past performance of the schemes is neither an indicator nor a guarantee of future performance. Terms and conditions of the website/app are applicable. Privacy policy of the website is applicable. Copyright 2021 IMPERIAL MONEY Disclaimer | Disclosure | Privacy Policy | T & C.