Introduction

Parenthood marks a significant milestone in life, and like every crucial life event, it requires careful planning and preparation, especially when considering parental leave.

You wouldn't venture into a dense forest without a map, so why embark on the journey to parenthood without a plan?

Follow our roadmap for preparing for parental leave to make your transition as easy as possible… Are you ready, get set, PARENT!

Introduction

You’ve probably not heard of Ben Pasternak, but this Australian kidpreneur, at the ripe old age of 19, lives alone in his own New York high-rise apartment.

Kidpreneurs are everyday kids with an eye for an opportunity and the entrepreneurial drive to make it happen.

Ben’s fortune grew from the tech business he set up to develop social media apps for teens. After recently selling it, he’s now turning his attention to the burgeoning plant-based food industry.

Introduction

Becoming a parent is an exciting time of adjustment and upheaval; how could such a little person create so many changes – and sleepless nights?

But lack of sleep shouldn’t be caused by financial worries and reduced household income.

When Judy a florist, and Gary an IT manager, decided to start a family, like everyone, they worried about the impact on their finances.

They tried to save as much money as they could while they still had Judy’s income, but there was so much to buy and prepare.

Introduction

Did you have a savings account when you were young? It wasn’t uncommon and those old Passbook accounts funded many a first car.

Now you’re a parent, are you thinking of opening an account for your kids? Record low interest rates have taken some of the fun out of watching bank accounts grow, but there are alternatives.

For example, have you considered a share portfolio?

Introduction

For many of us, our first experience of banking and savings was the school Savings Account Program.

But in 2019 the Australian Securities and Investments Commission (ASIC) raised concerns that these accounts had little lasting impact on children’s savings behaviour.

All parents want their children to be better-off than they were – more secure and financially independent, but the big question remains: where do you start?

Introduction

How much does it cost to raise a child? Obviously the answer is highly dependent on individual circumstances. However, as a guide, a 2013 national study  found that a typical middle income family would spend about $.....,000 on raising two children from birth to age 24. At that time child-raising costs were increasing at around 9% per annum, so it’s a reasonable estimate that these days the cost of getting two kids to the point where they’re ready to leave home (that’s not to say that they will) is closer to $..........! And that’s a middle of the road figure.

Introduction

Financial literacy is a fundamental life tool. Teaching our kids about financial management from a young age should be a high priority as this is now recognised as an important stepping stone to financial success.

Fortunately, secondary school teachers now have access to free teaching resources through not-for-profit organisations such as the Financial Basics Foundation. These resources can help students become well-equipped to make informed financial decisions and fight spending temptations; better enabling them to set and reach their financial goals.

What is the Financial Basics Foundation?

Introduction

Wireless-based technology allows children from alarmingly young ages to do everything online, usually via a mobile device. Having instant access to the world is an expectation for many youngsters nowadays. What child doesn’t know what an “app” is?