If you have a partner, being on the same page with parenthood values before you become a parent is probably just as important as choosing your baby’s name.
Your values often translate into where you spend money.
For example, “what is important about money to you?” demonstrates one person’s core values and beliefs, particularly if followed up with a “why?”.
Grab the conversation guide, sit down over dinner and reflect on your own responses and your partner’s.
Sources: MoneySmart, Pineapple Project, Canstar
1. What is important about money to you? Followed up with why?
Shows core values around money
2. If you won Tattslotto, what would you do with the money?
3. How would you describe your money habits?
E.g. are you a spender, saver, conservative, risk adverse vs. risk taking, OK with debt or
not OK with debt
4. Who or what was the biggest influence over your money habits & attitudes ? Why?
5. What are the “must haves” when it comes to spending?
If you need to re-evaluate spending post-baby, what are the must haves, what are the nice
to haves? Do you agree as a partnership?
6. If you experience difficulties in becoming conceiving, are you open to investing in
assisted technologies (e.g. IVF), would adoption or surrogacy be an option?
Important to know where stand and can save for
7. In preparing for becoming a parent, is there any ‘upgrading’ you need to consider? E.g.
Are you planning any ‘big’ spending in the near term? How financially prepared are you for
8. When you become a parent, will either partner time off work? Who and how long?
Some areas to consider – access to parental leave benefits (yes/no and how much),
eligibility for government assistance payments
9. What will you do afterwards by way of childcare?
10. If one of you takes time off work, will the other contribute to superannuation?
11. How many kids do you want to have?
12. Private or public schooling? Any other big spending requirements?
If private, how will you financially achieve this (and for how long?)? Are regular family
holidays a non-negotiatiable?
13. How do you feel about pocket money for our kids? How do you plan to teach kids the
value of money?
How do you plan to teach kids about money