Anna, a mother of four, and Tiana, who’s expecting her first child, have been friends for over a decade. In that time, they’ve talked about anything and everything, with one notable exception: money. As Tiana’s due date rapidly approaches, she realizes it’s better late than never to tap into her friend’s vast experience and knowledge about the financial realities of parenthood.
This episode’s expert is Carly Leahy, Cofounder of Modern Fertility, a women’s health company designed to make fertility information more accessible for women. Carly discusses the biggest financial hurdles for would-be parents and the parallels between being proactive about fertility and finances.
In Modern Fertility’s recent survey, Modern State of Fertility 2020, 75% of people said they view childcare costs as the biggest financial burden. Before growing your family, consider how you will adjust your financial plan to care for a child while still keeping up with your household finances.
77% or survey respondents dipped into their savings accounts or 401(k) to cover fertility costs. To avoid competing priorities, create a financial plan that secures your family for all of life’s stages.
Financial issues don’t have to be a big secret. Find a trusted friend that you feel comfortable discussing money matters with.
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