Learn to financially prepare for a baby. While a new arrival is an exciting change, it also means some big changes for your finances. The average cost of raising a child in New Zealand is around $16,000 per year.
Teaching our children, teens and young adults how to manage their finances is an essential life skill. In this article, I talk to Luke, a 16-year-old who has just landed his first part-time job working in hospitality. Luke was given a formula by his parents that emphasised the importance of savings from his first pay check.