Oh, baby

Today, we’re talking about the finances of parenthood [ThePennyHoarder.com]( November 14th, 2018 Happy Wednesday Penny Hoarders! We’re halfway through another week and nearly halfway through another month and yikes this year sure is flying by! Today, we’re talking about another thing that flies by all too quickly: Parenthood — and what parenthood can mean for your finances. First, this news… Professional Elf Trainer| What would Santa’s resume look like? What about Homer Simpson or Dracula? A funny and well-written resume on any fictional or nonfictional character [could win you a $1,000 college scholarship from Resume Genius](. A Pro/Con List| A lot of websites say they’ll pay you for your opinion, but not every paid survey site is legitimate. To help you weed out the good from the bad, [we reviewed Survey Junkie]( and detailed the pros, the cons, and the important info you should know about how the site works and how big the payouts are. The Bird Is the Word| Remember how we said time is flying by? Thanksgiving is right around the corner, and it’s time to start thinking about that turkey. That moist, delicious, expensive turkey. Luckily, some grocery chains offer free turkeys to rewards members. [Here’s where and how to get yours](. Oh, Baby| When you’re getting ready to become a parent, you do a lot of preparation. You buy diapers, wash clothes, paint the nursery, install the car seat, sanitize the bottles, read the books, attend the classes — you prepare in just about every way you know how. But what about financially? Have you prepared your finances to handle the upcoming shift? These days, new parents are expected to spend an average of $233,610 from birth through age 17. That’s… a lot of money. Unfortunately, while most parents love to talk about the benefits of one brand of diapers or the importance of limiting screen time, not many want to reveal their biggest financial mistakes — and what you could learn from them. So, the host of Money Girl Podcast sat down with a financial expert to get the scoop on the biggest financial mistakes parents make. Here’s what the expert had to say, plus what new parents can do to avoid these pitfalls: Mistake No. 1: Not building savings. Parenthood is unpredictable. Having a financial buffer is crucial to handling those unanticipated expenses that pop up often and without notice. Mistake No. 2: Not preparing for child care costs. Child care is expensive and is one of the largest costs parents will face in the first few years. Doing a little research on the best child care option for your family can help you save big over time. Mistake No. 3: Not getting life insurance. Life insurance might not be at the forefront of your mind during such an exciting time, but if there are people that depend on your income, it’s an important investment. Wondering what else parents can do now to avoid financial mistakes in the future? [Check out the other money blunders new parents commit]( — and what you can learn from them. WORD OF THE DAY Voluntary pre-kindergarten (n): A program that allows preschool-aged children to attend a few hours of state-subsidized pre-kindergarten classes per week at little or no cost for parents. All but seven states currently have some form of voluntary pre-kindergarten (or VPK), but not all of them are universal, and acceptance to the program may be based on household income. Child care is one of the largest expenses most families will face as their children grow up. Many parents are forced to juggle opposite schedules or have one parent quit work entirely, while others are forced into debt to cover the cost of daycare. If you’re struggling with child care costs, you don’t have to go it alone; [these suggestions for child care assistance]( can help parents lower their child care expenses. The Penny Hoarder | 490 1st Ave S, Suite 800 | Saint Petersburg, Florida 33701 | United States [Unsubscribe]( from all email from The Penny Hoarder. Questions? View our [Privacy Policy](. Having trouble reading this email? You can [view it online](.