Book Review-Money Smart Mom-Financially Fit Parenting

A Book Review of Financially Fit Parenting written by Author Sarah Deveau

As you may already know Mrs. CBB and I have no children as of yet. We are hoping to have a child one day soon and this book was an excellent guide to answer some of our questions. When we hear about children and money we automatically believe it will cost a fortune to raise a child. That may be the case but if you plan and budget your money it may not be as bad as it sounds.

Sarah doesn’t miss a beat in this book offering tips on everything from making the decision to have a child all the way to budgeting and saving for the future.  All soon-to-be or wanna be parents like us should read this book and make notes and lots of them. You will learn everything you need to know about parenting tucked into this well planned out guide.

One of the most important topics is preparing for one income and adjusting the budget to show this change. I often have mothers asking me how they can budget while on maternity leave  and I often tell them to “live it” before the baby arrives. What that means is sort out a mock budget using as many figures as you can and live from one income to see if can be done. If not then you will know ahead of time what needs to be changed. Some parents decide to stay home for good and not return to work and this helps you to make a sound decision. It’s important to understand the basics of maternity and paternity leave before you set any plans in motion.

Sarah goes on to explain that  “after running the numbers,many families find that it just makes sense for one parent to just stay home with the children”.

While you are staying at home you no longer need to spend money on items such as work clothes, lunch, coffee etc. These out-of-pocket expenses that you won’t be spending need to be taken into consideration when budgeting for a one income family.  You both need to sit down as a couple and make a list of all the important details of  your budget. Make important adjustments to see if it is a realistic expectation to stay home and still pay all the bills.

Another money crunch in the budget when having a child can be all the baby items you need to purchase. I know that Mrs. CBB and I were terrified about all the baby stuff on the market. We truly thought how are we going to afford all of this stuff. Sometimes we walk through the baby section at the shops and the prices scare us. The sheer amount of gadgets on the market can really add up in the budget.

Sarah warns that they grow up fast, remember this speedy development also means they grow out of things equally as fast.

You can easily take advantage of the vast amount of garage sales in the summer time to find anything and everything baby related. You can scour the internet or mom to mom sales for cheap baby clothes and then some. When your child grows out of  things you can turn around and sell them to another parent. You can also take advantage of using coupons to stockpile diapers,bottles,formula etc.  before your bundle of joy arrives to save money in your budget.

Since reading Financially Fit Parenting  Mrs. CBB and I feel better prepared to make the right decisions for preparing to bring a child into this world. If you have questions and you want answers Sarah has them all in Financially Fit Parenting.

WIN A Copy of Financially Fit Parenting!

Here’s How………..

If you would like to WIN a Copy of Money Smart Mom- Financially Fit Parenting You must be a Fan/Follower of Canadian Budget Binder on either Facebook,Twitter,Pinterest or a Blog Subscriber to enter.  Tweet,Pin or link to this post or Share the Facebook Post then comment on this blog post to be entered. You must complete the above to be entered along with commenting on this post. One entry per email and per person.

Contest starts Saturday July 7,2012 and ends Monday July 9,2012 at 10am EST. Canadian Residents Only. Winner will be announced Tuesday July 10,2012. Watch for the post!

You can purchase Money Smart Mom-Financially Fit Parenting on-line at Chapters Indigo and visit Sarah’s website at MoneySmartMom for more tips and ideas.

If you would like Mr.CBB to review your book or product email me today!

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Mr. CBB
I’m from the UK and now a recent permanent resident in Canada. I bought my first house at the age of 21 after University then my second at the age of 24. I’ve always been fascinated with personal finance, savings, learning to make money and watch it grow while combating debts along the way. Canadian Budget Binder is a place where I get to share my experiences with personal finance and learn about yours along the way. I hope you stick around and check me out on Twitter, Facebook and Pinterest where I am active on all social media sites. Cheers, Mr.CBB
Mr. CBB
Mr. CBB

Comments

  1. I don’t want a copy of the book, but I would like to note that the point-in-time estimate of work vs. daycare doesn’t take everything into account for the home vs work decision.

    Ignore the rant at the beginning– here’s some discussion of full pros and cons, not just the point-in-time wage analysis: http://nicoleandmaggie.wordpress.com/2011/11/21/the-wohsah-decision-finances/

  2. Angelene Ashawasega says:

    My daughter, being a new mom, needs all the help she can get. Thanks:)

  3. Great Article. Thanks for sharing. The book sounds like a good read.

  4. Joanna Cheevers says:

    Sounds like a great book. I’m sure there is quite a bit of information that could be useful for this single mom. Yes children sure can be expensive. I was fortunate as when I became an instant mom I had a lot of help from friends, family and co-workers. Didn’t have to buy my daughter any clothes until she was 3 as I had so much given to me. Will have my fingers crossed for this giveaway!

  5. I know with one child it’s not worth staying home and quitting my job but it might be with two! I would love to see the tips in this book for everything including this!

  6. JeanAnne says:

    This book sounds like a good read if you are thinking about kids. Thanks for the review. I don’t have kids yet but my fiancee and I have been talking about it and he said he would like to have two and he would like to have one before he hits 35. Financially right now we can’t afford it so any tips on how to make this more feasible would be a huge help. Thank you very much.

  7. JeanAnne says:

    Shared also thanks

  8. Cassandra Morris says:

    Would love a copy of this book, sounds like a very useful tool! I have always wanted children but currently am not in a financial position for them :( would love to change that around and soon!!

  9. Sabrina says:

    Would love to win this, it’s never too late to make a plan/budget or revisit one!

    • You are 100% right Sabrina! Good for you. If you need any budgeting tips there are loads all around canadianbudgetbinder… and I added a basic budget you can print the other day to get you started until I release my actual worksheet. Cheers and good luck .

  10. carla d says:

    Tweeted and follower on several of those places:) great review, sounds like a good read!

  11. StevenandJessica Hart says:

    I shared the post on facebook and I am definetly a fan!

  12. Lynette says:

    Shared on facebook. I’m a big fan, keep up the great work!

  13. diane sousa says:

    Followed and retweeted!!

  14. Karen H says:

    Sounds like a great resource to have :)

  15. Sherease MacCraken says:

    I would love to read this book!!!!!

  16. Barb Foster says:

    Some great tips that would and could help anyone thinking of or having a child. The point that really stuck with me is how babies/young children do not need all the extra gadgets that stores try to sell these days. Childen really do like the boxes and wrappers sometimes more than the gift inside. As long as you have the basics to keep yor children safe and happy all the extras are just money wasters. Also the stockpiling of baby basics like diapers and wipes is also a great idea (sales and coupons), but make sure not to overdo it. My daughter grew out of sz 1′s and 2′s faster then I thought and I had packages left over than became gifts for others lol

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