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My Peace On Money

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Enlightened Finance for Couples

4 Tuesdays starting 10/21 at 6:30pm. 
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Tips for Small Business Owners

Christine speaks about Money and Memory on Across the Fence


Monday Money Talk
October 13th, on The 30
WCAX Channel 3 Burlington

Attend this Special Event!

5 Things Every Couple Needs to Know about Money

5 Things Every Couple Needs to Know about Money

Tuesday, 10/14, 6-8pm, Shelburne Vineyards
$25/couple, $15/individual
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October 2014 Edition
Volume 11 Issue #9
Happy Fall Friend

I hope the season has brought lots of love and fall fun your way. In Vermont, the colors have been spectacular. Bike rides, company and long walks have assured my viewing and experiencing nature's abundance.

In the midst of this autumn splendor, I have been preparing for a one time evening couples event in Shelburne. On Tuesday October 14th, I am excited to present “Financial Intimacy: Five Financial Things Every Couple Needs to Know.”  This live talk is an opportunity for couples to learn together, enjoy the Shelburne Vineyard and have some fun. Keeping it simple, fun and light are my goals for the evening. If you are local, think about coming out for a couple of hours and joining us. I would love to meet you in person.

Peace and Prosperity,


Birthing Classes. Pre-Natal Check ups. Sonograms. Baby books and morning sickness are all well known. Expecting mothers attend to the medical needs of the new child and herself by regularly receiving medical check ups. Prospective parents plan for the physical needs of the child by setting up space for the new crib and some clothes and even books and toys. Others join in the fun with baby showers and gifts for both the new mother and the baby. But what about the money side?

Less anticipated and planned for are the financial decisions that a couple needs to make. Several financial planning check-ups are needed as much as the routine medical tests during the months of pregnancy. Why? Because if the financial needs of the parents and the child are not met before the baby arrives, the full impact of lack of sleep and fast moving priorities may sideline needed financial planning basics.  

Suggesting financial steps to do before having the blessing of a child to care for everyday may not be as cute as a onesie or as fun as Jack in the Box.  If you have a new child arriving or if you know someone who has, the perfect gift is the gift of information. Here are some tips for you or to share:

1. Plan financially for the cash flow:

Think ahead. Who is going to work? Even if it maternity leave is only for a couple of months, how are bills going to be paid? If it is time off and maternity leave is not covered, do you have savings for that time period? Will you receive partial salary during that time? How will that affect your regular bill pay and cash flow? Ongoing: Will daycare costs affect your other spending? And did you take into account what the cost of diapers and other additional on-going child costs will do to your monthly spending? Is there anything that you need to change in your spending now to plan ahead for these baby costs? Discuss the future financial changes and tweak your spending to build your savings and avoid the cash flow shift. 

2. Create a Will and a Health Care Directive, and a Power of Attorney:

This is an estate planning package and provides if you are unable to for your child. This sends a message of love to your dependents and loved ones about what matters most with respect to your child. Why? These documents would direct who the guardian for your child would be, if you are not able. Although this is an emotional subject, the chances of this happening are slim- less than 2%. However, you are saving the child and those left behind a lot of heartache if such decisions are made ahead of time. Through a will you can also prevent your child from inheriting your money at an inappropriate young age by appointing someone to guide financial matters. The money will managed and distributed according to need until he or she reaches the proper age that you predetermine. 

3. Life Insurance: Get some.

If you already have some, you will probably need more. And both members of a couple need life insurance in virtually equal amounts. The income loss of the main breadwinner is comparable to the financial replacement of attending to the needs of a growing child. The cost of raising a child with food, shelter, and education adds up fast. Find out the cost of purchasing additional life insurance through work. A good place to start is for the best rate on term insurance. And remember that in the life insurance business, buying in bulk is the name of the game and lowers your cost. So do not hold on to that $25,000 policy your parents gave you at college graduation and buy another $75,000. Once you know you are insurable, you are better off getting one policy for $100,000 or more.  You will get more value for your premium.  

4. Health Insurance:

Many parents do think of this as they do their prenatal check-ups. Find out what kind of coverage is available through work and how much it would cost. Many states, like Vermont, have free or low cost medical coverage available for children. Explore your options. Read the details of what is covered and work the premium cost into your future spending plan.

Having a child is a beautiful and momentous experience. Plan ahead to lower the stress financially before the baby arrives. You will be taking care of yourselves and your child. And thinking ahead will mean one less thing to worry about and more time and energy to enjoy your child.
C. D. Moriarty is a financial speaker, writer, and coach dedicated to empowering others around their money. Her financial wisdom and information is at:
(888) 449-8081
PO Box 293, Bristol, VT 05443
Money Peace
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