How to Manage Financial Burdens and a Family

Here at Fabulessly Frugal we are always looking for ways to save money. Lately, I have noticed many of you mother’s have expressed an interest in the rising costs of children. I know how hard it is to raise and AFFORD children. We came across an awesome company who happens to be super knowledgable on how to help parents prepare financially for children and how to help those parents who went in to debt, get out! Today we have an awesome guest post for you to show you how to put your family in a better place financially.

Freedom Debt Relief Could Help New Parents with Financial Burdens

Babies are expensive. You’ve probably heard that phrase a thousand or more times. So, even when you have your own child you recognize this. But are you really prepared for it? Do you have all of the supplies you’ll need? A crib, stroller, baby carrier, bassinet, bedding, changing table, pack-n-play…. the list goes on and on!

And are you ready to buy 2700 diapers in your child’s first year of life?

Until you have a baby, it is often hard to gauge just how much your little one is going to cost. In fact, many new parents grossly underestimate this and wind up using credit cards, taking loans, and doing other things just to make ends meet. Having a new baby is a joyful, but expensive time. Fortunately, Freedom Debt Relief could help parents who are struggling to keep up with all the bills and expenses.

If this all seems overwhelming, take a deep breath. There are some things you can do to ease the financial challenges of a new baby.

Tips to Prepare Financially for a New Baby

If you haven’t taken that step to have a baby yet, you still have time to get yourself in good financial shape before you do. And if your bundle of joy has already arrived, there are still ways that you can work on your finances.

  •  Look for ways to cut spending and save money. We all have our things that we like to spend money on but don’t really have to have. What is it for you? If you can reduce or cut it out altogether, at least for a little while, you can put aside money for your new baby.
  •  Create a baby budget. Make a list of everything that you are going to need to raise your baby. There are some things that will typically be a one-time purchase (like a bassinet or high chair), and others that are ongoing expenses (such as diapers). Include both in your budget and look for ways where you can save. For example, you could save on diapers by ordering a monthly diaper subscription.
  •  Be mindful when you shop for your baby. Babies grow fast, and at different rates. So, don’t spend a ton of money on name-brand clothes for an infant. So many of them are never worn. In fact, go visit a second-hand baby store and you will find that many of the clothes for infants and small babies still have the tags on them!
  •  Eliminate your debt. If you have time to plan ahead for your little one, paying off your credit cards before baby arrives is ideal. You won’t have the monthly payments to make, plus you will have a little cushion if you are struggling with money and must have diapers. However, if paying them off is too difficult on your own, Freedom Debt Relief could help.

New Babies = Many New Expenses

According to a recent analysis from NerdWallet, the first year of life of a new baby can cost you anywhere from $21K to $52K. Yet, almost half of new millennial parents estimate babies will cost about $5K in the first year. There is a huge gap here in what families expect to pay and what they actually end up paying. These expenses don’t just stop in the first year. They continue for the next 18 years (at least).

Take childcare for example. The average childcare costs for a family is $18,000 per year. This is a huge expense. A recent study from revealed that approximately 20 percent of parents say that they spend one-quarter of their income on childcare. If you are not prepared for these expenses, you may not have the funds available to handle them. When this happens, people often turn to credit cards to meet their needs. If your credit card debt spirals out of control, Freedom Debt Relief could help you get your life back on track.

The Freedom Debt Relief Program 

Freedom Debt Relief is a program that could help parents pay off serious debt. As the largest debt negotiator in the US, this program has resolved over $7 billion in debt for over 400,000 customers. People turn to this program for a very good reason, it is effective and it puts them back in charge of their own personal finances. This is important for parents, especially new parents who are learning for the first time just how expensive child-rearing can be.

The program is not only effective, it is really easy to use.

Simply tell us about your debt. We’ll talk through it with you to make sure that the Freedom Debt Relief program is the right solution for your situation. Next, we’ll show you just how much you could save when you partner with us. Finally, when you enroll in our program, we’ll get to work negotiating settlements until all of the debt you enrolled with us is eliminated. The process is easy and straightforward.

Our goal is to help you resolve your debt quickly and for less than what you currently owe. We are here for you every step of the way. Plus, with our client dashboard, you can easily track your progress and watch as your debt is eliminated.

Here is what some of our recent customers have said about the program:

“Everything was a very simple process… they made me feel very secure.” – Rita J.

“Best decision I’ve ever made. Only wish I’d done this sooner!!” – David C.

“If you have any doubt about doing this please put the doubts aside. This experience has been a god send and I no longer worry myself sick about how I won’t have enough money to make the bills. Everyone is wonderful and you know they are working on your behalf to get you back on track!” – Sherry

As a new parent, you have enough to contend with. Let us help you start fresh so that you can focus on the things that matter, like your new child.

Give us a call or go to our website for your free consultation.

Thank you Melanie for the guest post!

Melanie Lepow is a PR professional with an extensive background in finance and technology. She enjoys reading, healthy living, and classical music.

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