When we found out we were expecting our first child, although so excited, it wasn’t something we planned at that particular time so we were not exactly prepared to handle the financial aspect of an addition to our family. I had the mindset of being prepared so that I could be a stay at home Mother, not a full-time working Mother. My husband had become very ill and although we had no idea what we would be dealing with, it was something that would rock our family in many ways, financially included.
When Austin was only nine months old we found out that again we were expecting and were totally shocked! Due to the amount of time Austin and I both were in the hospital, we were still paying our hospital bills and then Hubby started chemo during my pregnancy as well. All hopes of staying at home at that point were thrown out the door. With each milestone we faced, we realized that we would need to make adjustments. Adjustments are not always easy, but totally necessary if you want to stay in control.
Finances quickly became a topic of my thoughts more often than I would like. Not only were there the day-to-day expenses and medical expenses but now with children there were also so many other financial aspects to consider. I found by looking online there were so many places that offer awesome family financial planning online.
Although I had always been one with a budget, we had always had some wiggle room as well. Times had now changed for us! Planning was even more vital than ever!
That was about four years ago and although times have been difficult, we are in a much better financial situation than we were back then. We prayed about so many things and started planning again. Planning is truly the key to making financial planning a success. We are no where close to where we hope to be but still are working towards our financial plan.
Setting Financial Goals in Small Steps is Vital! Know where you are today and where you want to be tomorrow, in three months, six months and even next year!
For 2013 we once again were surprised, on January 2nd actually to find out that we were expecting again! We will be having a little baby boy towards the end of summer. That means we need to focus on our family finances even more in 2013! By the end of summer, we are planning (praying) that all will align so that I can work exclusively from home. It will be a huge accomplishment and joy to work at home and be a stay-at-home Mom.
Our financial goals for 2013 are to pay off the remaining credit cards balance we have, have all or close to all of our medical bills for 3.0 paid by the time he arrives and save for a family trip to Disney World (that was derailed when we found out we were expecting).
What are your financial goals for 2013?
MassMutual is such an awesome source to help Moms start thinking about their attitudes toward finances and how they can take small steps forward in the process of planning for their financial future. I encourage you to take the short quiz MassMutual has created to help each Mom on the right financial road.
If you are interested in learning more about financial planning, please visit MassMutual who can help you find a financial planner near your home.
I wrote this post as participation in a blog tour for Mom Central on behalf of MassMutual and received compensation in the form of an Amazon gift code to thank me for taking the time to participate.