The desire to have children is not just an emotional matter. Parents also have a financial duty to care for their offspring. Long-term financial planning should therefore fit in with family planning.
The goal for financial security
Parents or couples who want to have children should formulate goals for financial planning together, adapted to their financial possibilities. This way, they will not jeopardize financial independence through impulse purchases or expensive wishes.
As a goal of long-term financial planning, parents can easily pay the monthly costs for their children and their education from their current income. Parents should only have to fall back on reserves for larger purchases such as new furniture or the children’s stay abroad.