When you have children, you get lots of advice and tips from everyone but one area that tends to be overlooked is the financial aspect.
In the excitement of impending parenthood, or the crazy first few months – and years – you may never get around to taking some important financial steps. It’s too easy to forget this essential topic so this article is designed to be a useful guide to some of the issues you need to consider.
Multiple surveys have put the cost of raising a child at eye-watering levels over their first 18 years and expats working in the UAE have the added cost of education and medical bills to contend with.
Factor in university or college costs and the fact that many young adults may not be fully financially independent until closer to age 25, and you can see just how important it is to plan sensibly.
Let’s look at some of the financial steps you need to consider.