Helping You Think and Plan Ahead

Consider using the following questions to help you look ahead and think ahead:

Topic Question: Will the wife work outside the home?

Depending on how one answers that question there are many implications as to how they ought to be living today. For example if you answer no, the wife will not work outside the home, this impacts:

1. Vehicle purchase: Pay cash for a vehicle so that car payments do not burden the family to a point that you can no longer afford to live on one income.
2. House purchase: When considering what you can and cannot afford, if the wife is currently working do not include her income. Make the purchase only on one income.
3. Emergency Fund: If you would like to make this transition but are financially leery, start living on one income now, save the difference, and then you have some funds that will help make the transition easier.
   

Topic Question: Do I want my kids to go to college?

Depending on how one answers the question there are implications for today.

For example if you want your kids to go to college this impacts other decisions such as:

1. Teaching your children to handle money: It does not matter if you plan to help your kids with the bill or not, but they need to be taught today to handle money so that whatever help they do get will be a blessing to them.
2. Encourage your child to get a part-time job: People rarely go to college for nothing. A little sacrifice now on your children's part will go a long way towards preparing them for college.
3. Open a college savings fund like a ESA. Those few dollars every month will make a big difference in the future.
   

Sit down today and think ahead. What does the future look like for you and what decisions can you make today that will start putting those ideas into action?