Mother’s Day 2024: 5 tips for new moms to achieve financial stability

financialexpress.com:

Happy Mother’s Day to all the amazing mothers out there! Motherhood is a wonderful feeling for all women. It is a turning point in their lives. Alongside the joy and celebration for the little one, motherhood brings a lot of responsibilities, including the financial aspect of providing for both yourself and your young one.

In a society like ours, most women even today, amidst nurturing and caring for the family, overlook financial planning for themselves as well as for their children. But a mother has an important role to play in establishing long-term financial goals. She can set objectives for her child’s education, healthcare and other essential needs. She can lead the way in making decisions that align with a clear financial vision.

In this article, we will discuss how, amidst the evolving dynamics of modern families, new moms can play a pivotal role not just in managing daily expenses but also in securing the family’s financial future.

Also Read: Mother’s Day 2024: Understanding the significance of health insurance for women

Take a look at these 5 tips shared by Joyeeta Ghosal, Director-Marketing, GoKwik, for new mothers on this Mother’s Day to help them achieve financial stability:

Having a child shoots up the monthly bills by a great margin immediately. There are several additions, such as medical and child care, establishing a support system, whether in the form of daycare or hired help at home, etc., especially if both parents are working. Despite this, it’s important to start building a corpus for your child’s major expenses in the future, such as their higher education and financial independence after retirement. This calls for a significant mindset change and managing your monthly budget in such a way that