10 Biggest Financial Mistakes First Time Parents Make
3. Pre-Schooling
In most of the Indian families, sending a kid to school after the age of four has become a sort of tradition. The parents assume the post four years to be the ideal period for their kids to learn and by the time, the kid attends four years, they prefer saving for the kid’s education.
However, this theory holds no good in real life. By the time, the kid starts attending school, the parents might come up with a small saving, but this will hardly bring any good to the kid. Rather than coming up with such a thin savings, it is better to send the kid to pre-schools or kindergarten classes. This might keep the parents away from a certain amount of savings, but will surely help the kid, learning some of the basic lessons.
4. New House
After the member in the family increases, most of the parents plan to shift to a better and spacious house. Space for the youngest member becomes one of the major concerns for the parents.
While shifting to the new house, the parents should be extremely careful as it becomes a financial concern for the family.
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