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Cody Hill

About Cody Hill

Cody Hill enjoys being outdoors, and loves watching baseball. Can’t find him online? Chances are he’s probably exploring the wilderness, or cheering on his favorite team (Go Cubs)! Follow him on Twitter @Cody_Hill777.

The True Cost of Children: How to Budget for Having Kids

June 3, 2017 By Cody Hill Leave a Comment

If you’re thinking about starting a family or already have a baby on the way, you’re more than likely preparing yourself for months of sleep deprivation, filthy diapers and lots of kid shows.

You’ll also probably flinch every time someone tells you how much a baby will change your life. Well, they’re right. It will. Preparing for Parenthood isn’t just about tiny clothes and breathtaking ultrasound pictures; in fact, it involves a lot of financial preparation as well.

The average cost of raising a child from birth until 18 in the U.S. is approximately $245,340 (or $304,480, depending on inflation). This includes the cost of clothes, food, healthcare, housing, transportation, toys and other entertainment.

Prices will, of course, vary depending on the location, and some costs – such as housing and/or transportation – are things that are usually already paid for before the child even arrives. That being said, there’s little doubt your biggest expense will be child care (assuming both parents continue working) and that can run close to $1,000 a month in bigger cities like Los Angeles.

The bottom line: There are many other costs that can arise, and that’s why it’s difficult for parents to put a price on parenthood. Creating a plan, however, can help you manage new expenses and responsibilities.

Take advantage of this time before the baby arrives to help get things in order. If you and your spouse discuss and agree on certain expectations, goals, and strategies now, you can avoid financial problems later on down the road. After all, you don’t want your child to feel like they’re a burden in your life.

  • Make Room for Your Baby in Your Budget

The startup cost of having a child might be really steep, but don’t overlook the extra day-to-day costs your little bundle of joy will bring: Babysitters, clothes, diapers, food, health insurance, and of course, utility bills since you’ll spend more time at home.

As a rule of thumb, you should plan on spending at least an extra $200 a month for total expenses. If you find that you need to pay more for child care, a bigger home or a new vehicle, then you’ll need to budget more. It’s a good idea to examine your budget to help identify certain areas you can cut back on to make room for extra expenses.

  • Pay Off Debt

If you pay off your debt before the baby arrives, then the money you were spending on monthly payments can now be used for taking care your baby – not to mention that you’ll also be creating a stable financial environment. For instance, let’s pretend that you have a $3,000 balance on your credit card. That’s about 18 percent interest. If you’re paying the bare minimum ($60 a month), then it’ll take you about 36 years to pay it off and cost you close to $8,000 in high-interest rates. If you’re able to pay $300 a month, however, you’d have that debt paid off within a year and only pay about $275 in interest.

It’s also a good idea to see where else you’re spending your money and make getting out of debt your top priority. If you’re unable to pay off all your debt before the baby arrives, try to pay them down as much as possible. The sooner you start working on this, the easier things will be later on down the road. Once is the baby is born, continue to make smaller payments until your budget is stable enough for you to get back on your feet.

  • Let Your Boss Know

It makes sense for most parents to hold off on telling their bosses about their big announcement until after the first trimester when the risk of miscarriage goes down. However, you don’t want to wait until you’re showing to let your colleagues know.

Different circumstances, of course, may dictate a different strategy. For example, some women might experience different illnesses during their pregnancies stages, making it practically impossible to drive to work. Fortunately, if you have a supportive boss, they should be able to understand.

If for some reason you’re worried that your employer might not welcome the news, consider holding off your announcement until after a salary performance review. That way you can make sure that the news doesn’t influence how you’re treated. You can also make the announcement after completing a big project at work to show your boss and colleagues just how valuable you really are to the organization.

  • Start Shopping Around for Life Insurance

You probably didn’t feel the need for life insurance when you were single, or even as a couple; but now that you’re going to be a parent and have a family that relies on you for financial support, it’s a must.

When do you need life insurance?

Well, it all depends on the financial needs of you and your family. When evaluating your options take into consideration your financial obligations.

Generally speaking, you should buy enough coverage to equal anywhere from 8 to 12 times your income. If you’re the family’s main provider, stick to the higher end life insurance plan. The low figure might be only enough if both spouses are working full-time jobs. Even stay-at-home parents need their own budget plan for child care in case of an unexpected death in the family.

Even if you’re budgeting wisely and taking advantage of different savings plans, you’ve got a lot to plan for when it comes to your money and your kids. Don’t worry: being pregnant won’t influence the rates since the risk of dying in childbirth is much lower than it was a hundred years ago.

Most parents have no idea what they’re getting themselves into financially when they have children. If a baby arrived with a bill, you’d be worried too. Yes, the process is daunting; and yes, being a parent requires a lot of love, nurturing, and of course, money. If it’s done right, however, the experience can be the most rewarding thing you’ll ever face.

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Thank you for reading the article. What are some other ways parents can plan their budget accordingly when expecting a child? Don’t hesitate, leave a comment below.

Survival Guide: Tips to Make Traveling With Kids Easier

March 28, 2017 By Cody Hill 2 Comments

Traveling can be hard, especially if kids are involved. Any parent knows that traveling with kids can be tricky, challenging, and fun all at the same time. As a matter of fact, the process might seem like an endless amount of things to do, all for a short time. Like in almost every aspect of life, however, with tons of preparation and patience, anyone (including you) can plan a family trip that’s trouble free. This article will focus on how you can make traveling with kids easy, exciting, and yes, even relaxing.

Family Travel Tips

Keep track of flight details: It can be stressful (and even impossible) to schedule your kids’ bedtimes during long trips. Let’s say, for example, you’re traveling across the globe, from the United States to somewhere in Asia. One way in particular to get around this, according to Meraki Lane, is to book a morning flight. That way, parents can just put their kids to bed a little earlier than usual the night before, ensuring that they’ll be well rested for the long journey ahead.

Traveling with the right type of luggage: When traveling, having a strong, durable, and reliable piece of luggage is an absolute must for kids. Children should be able to transport all their necessities in a bag that’s easy for them to carry and sized correctly for their height and age. Bright colors and patterns are not only fun for kids, but they also allow them to easily spot their belongings. The majority of bags nowadays have special features like luggage- backpack convertibility, and even ride-ability. Fortunately, there are a lot of great options for kids when it comes to luggage.

Awesome Kids’ Luggage Options for Parents:

  • Olympia Luggage Rolling Duffel Bag
  • Rockland 20 Inch Polycarbonate Carry On
  • Melissa & Doug Trunki
  • Travel Tots Luggage with Backpack (2 Piece Set)
  • Skip Hop Zoo Kids Rolling Luggage

If you’re a parent traveling by car, using a child safety seat (car seat) is the best protection you can give your child while traveling. These seats are designed to reduce the risk of neck injury in case of an accident. Every state in the United States requires that infants and small children be restrained – and with good reason. As parents, once you select a seat for your child, be sure to try it out.

Pack snacks and cool gadgets: Before leaving your home, make sure to bring ample snacks for the entire family. Homemade trail mix (nuts, seeds, dried fruit, and popcorn), granola bars, applesauce squeezers, and fruit leathers are just a few snacks parents can pack for the journey. Also bring an empty bottle of water or sippy cup so that after you board the plane, you can simply just ask the flight attendant for a drink to refill the bottle or cup.

Lastly, aside from including your child’s favorite snacks, be sure to remember their favorite handheld gadgets inside your carry-ons. You might also want to throw in small earphones or headphones. It’ll be helpful if they want to enjoy movies and/or television shows during the ride.

Role play inside the airport: This is where children mimic behaviors and verbal expressions of someone or something they’re pretending to be.

I think it’s safe to say we all know how the airport security measures and lineups are taken seriously. That being said, it can be quite nerve-wracking for some kids to go through all the personnel, inspections, and long lines. As a solution, inform and educate them in advance on what’s expected of them at the airport and discuss the environment if they’re old enough to understand. You can practice by role-playing beforehand so they won’t get overwhelmed with all the procedures and pre-boarding requirements. Organize their personal belongings ahead of time and make sure they aren’t wearing any belts and don’t have other metal objects with them that might attract TSA’s attention. Whatever the case may be, try to make the entire process fun.

Consider a hotel at the airport: Most of the time, airports are viewed as a wicked place; that we must go through in order to make it to our flight on time. Staying nearby, however, at a hotel that’s just steps away from the terminal can be rewarding for families traveling with young children.

Another option for parents, especially if you’ve arranged an early morning or late night flight would be to stay at an airport hotel before you head out. For instance, if you’re flying from one major city to the next, as a traveler, know that, aside from the road congestion, there are a handful of accommodation options nearby.

5 Kid-Friendly Airports:

  • San Francisco International Airport (SFO)
  • Boston Logan International (BOS)
  • Portland International Airport (PDX)
  • Orlando International Airport (MCO)
  • Philadelphia International Airport (PHL)

With spring break and summer vacation soon approaching, the pressure might be on to plan a family vacation. In fact, if all doesn’t go according to plan, make another plan. For example, if plane tickets are too expensive, look into renting a vehicle and driving your family to your destination. The only problem, however, is that children of all ages get restless no matter what. Meaning that parents might spend more time managing their child’s emotions than enjoying the drive.

We’ve all been guilty of letting travel obstacles give us the blues, but that shouldn’t change anything. It’s best to have a few backup options in your back pocket just in case someone needs a nap, or you just aren’t in the mood to do what you planned, you can switch gears without throwing everyone’s day off.

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I would like to thank you for reading the article. What are some other ways parents can make traveling with children easier? Don’t hesitate to leave comments below.

Five Things to Consider Before Buying A Car For Your Child

December 8, 2016 By Cody Hill Leave a Comment

It seems like only yesterday that your son or daughter was taking his or her first steps and now they’re ready to operate a motor vehicle. It’s not uncommon for a certain trepidation to overcome parents whose children are eager to gain their independence.

Furthermore, while your teenager tries to and anticipate getting their first car, you have to come to the realization of finding the safest, most reliable, and cost efficient vehicle to put them in.

This is no easy task since teen drivers are more likely to get into a car accident. Which is why insurance companies have no problem jacking up the rates to cover young drivers.

The first thing parents should address is whether or not their child needs a car. Just because your child has passed driver’s ed and got their license, or even if all their friends have a car, that doesn’t necessarily mean they need one at the age of 16.

Consider your family’s circumstance before adding another vehicle to the household.

If you live in an urban area, it might be cheaper for your child to continue relying on public transportation, or if your child needs a car only on occasion, ensuring them to drive the family vehicle might be a better option.

You can also ask your teen to contribute a certain amount to the ongoing costs of maintaining a car. This will help them appreciate the financial trade since they too will be forced to cut back on their spending habits.

This in itself can also be a useful lesson in managing money.

To help you out, here are some things parents should consider when narrowing down their list of potential cars for their child.

Read Below the Sticker Price

Finance. A rule of thumb to keep in mind: if you’re taking out a loan to pay for your child’s car, the payment shouldn’t be more than 20 percent of your take-home pay. If that means giving up going out for dinner once a week or getting coffee from the office instead of Starbucks, that’s fine as long as you know that it’s a concrete step you’re willing to make in order for your child to have a car. If for some reason you’re on a strict budget, you might want to spend even less. Used vehicles, in particular, will always need a little extra attention: new tires, tune ups, and other maintenance issues alike. Then there are expenses that shoppers don’t account for like gas, and insurance.

As a final point, when buying a used vehicle, make sure you set aside a little extra for the warranty. It might be a good idea to set aside a “just-in-case” fund to cover any unexpected repairs on the car. When it comes to a vehicle protecting your child, spending the extra thousand just might save their life should they ever get into a car wreck.

Inspect the vehicle for your child. Before buying a vehicle for your child, there are a few basic things you can check, even if you know nothing about the car. You can run a basic visual check and frame inspection on your own. Looking for dents, knocks, and other damages around the car. But even if the car doesn’t seem like anything is wrong with it, you will still need a mechanic to take a look under the hood and run some basic test.

Even if the seller guarantees no mechanical defects or major issues with the car, you should verify that the car is in good shape with a thorough inspection. After all, the seller is getting rid of the vehicle for a reason.

Odor check: When you first open the door and begin looking around, do a quick sniff test. This might sound funny at first, but if it smells like mold, must, or mildew that could indicate a water leak or worse, a flood damage from possibly taking resident in states prone to high water levels.

Take your child’s car for a test drive. It doesn’t matter if you consider yourself the safest person on the road, perhaps the most important thing for any buyer to do before agreeing to buy a used car – is seeing how the car actually drives. It’s always a good idea to try and test the vehicle in different situations. For instance, try driving it on a highway, up against a hill, or down a hill, and on flat land. On local roads, in particular, you can get a better feel for the vehicle’s transmission system by listening to the gears shift while at the same time, seeing how the car responds to sharp turns. With a trip on the highway, you can note if the engine runs smoothly or not.

You’ll also get a good feel of the brakes by conducting a stop-and-go motion. In other words, you’ll have a better understanding of the car’s brake performance when approaching a “Stop” sign, or red lights. If anything seems off or makes you feel uneasy, don’t be afraid to walk away. Remember, while on a test drive, keeps your eyes and ears open. Pay attention to unusual noises, and take note of any electrical problems that your child might not recognize.

Don’t rely on your child to conduct research. When a child knows their parents are searching for a vehicle for them, the world is endless. They’ll find the most extravagant, expensive, and at times, outright most jaw-dropping vehicles you could purchase. The reality is, the child only sees the vehicle and focus more on their image. To emphasize, children never consider the precautions.

Never, ever walk into a dealership “just to look around.” To a dealer, this is like a sheep walking into a crowd of hungry wolves – they don’t even see the person; all they see is a sale. Most small and midsize dealerships will have online inventories for potential buyers. Check those sites out in advance and start looking up the models you’re interested in. Once you’ve found the one that catches your attention, read up on it. To put it another way, go through car sites, click on the forums posted by owners, get the specs and find out what users thought of the vehicle as a whole.

If you were back in school, you’d do the same amount of research for a William Shakespeare book report anyway. Right? That being said, you can do the same legwork for a multi-thousand dollar purchase you’re going to entrust your child’s life in every time they leave the house to go to school, work, or when making a quick run to the grocery store for you. Whatever you do, the point is to come in with a mental list; do not let the dealers steer you outside of that list of vehicles you’re not familiar with.

Key things to keep in mind:

  • Safety
  • Reliability
  • Features you need vs. you want.
  • Depreciation rate, insurance, average miles per gallon.

Reduce technological distractions. If you have a teenager, you know the importance of his or her phone. It’s always in their hands, and they’re almost always texting someone. But things get even more frightening once your teen starts driving. As the parent, that’s when you want the phone as far away from them as possible. Making that happen, however, can prove to be a challenge.

It’s not easy to give your teen advice about this, especially when they think the world is against them. Whatever the case maybe, put aside your differences and talk to them. These tips will help you start the discussion and make sure the advice sticks.

Using Parental Controls on Your Kids Devices

  • Set rules with consequences
  • Know the laws in your state and make sure your child knows them too.
  • Get an app that prevents them from using their phone when near the vehicle.
  • Be a role model
  • Try scaring them
  • Watch when you call or text them

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Thanks for the read. Did I miss anything? What are some other things potential buyers should consider before purchasing a car? I’ll be checking for comments, so feel free to express your opinion.

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