Tag: parents

Mom and Dad Money | Financial Advice for New Parents

It’s hard to balance all the new financial responsibilities that come with starting a family. From handling new expenses, to building savings, buying insurance, paying off debt, and investing for the future, it’s a lot to take on and there’s a lot of pressure to get it right.

I know from experience. Even with my background as a Certified Financial Plannertm, I struggled to make the right decisions when my wife and I were starting our family. I honestly didn’t feel confident in my ability to handle it.

Maybe you’re feeling overwhelmed too and you’re not sure where to start. Or maybe you’ve already made a lot of the “right” financial moves, but you’re still not sure whether you’re on the right track for what YOU want out of life.

No matter what, I know that you want to feel confident about your financial decisions

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Student finance guide for parents and partners

You might need to give Student Finance England information about your income if your child or partner has applied for student finance that’s based on your household income.

You’ll be asked for financial details for the last full tax year previous to the start of the academic year. For example, if the student is applying for the 2019/20 academic year, the tax year will be 2017/18. Student Finance England will ask for details of the previous tax year because this is the most recent full tax year at the time applications open.

Your information will be used to work out if your child or partner can get extra Maintenance Loan on top of the Tuition Fee Loan and basic Maintenance Loan.

If your income in the current tax year is likely to be at least 15% lower than the previous tax year, Student Finance England can assess your household income

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