For some new parents, it might not be easy to entrust a precious newborn to another person, be it a family member, baby-sitter or infant care centre.

That’s why some mums prefer to stay at home during the initial years, to care for and bond with their newborn, and experience all the joyful moments and milestones in the child’s life.

However, before you hang up your office-wear to commit to full-time childcare, there are practical considerations that need to be discussed with your spouse.

Apelles Poh, certified financial planner and senior branch manager of Professional Investment Advisory Services, observes: “Fortunately, very few would take this plunge without first considering whether they can afford it. New parents understand the need to balance the responsibilities of looking after a baby and meeting the financial needs of a family.”

He proposes the following areas for discussion before taking the leap:

• Have a heart-to-heart talk with your partner.
• Do some calculations.
• Clear your debts first.
• Consider future employability.

An extract from: Are You Financially Ready To Be A Stay At Home Mum?

For some new parents, it might not be easy to entrust a precious newborn to another person, be it a family member, baby-sitter or infant care centre.

That’s why some mums prefer to stay at home during the initial years, to care for and bond with their newborn, and experience all the joyful moments and milestones in the child’s life.

However, before you hang up your office-wear to commit to full-time childcare, there are practical considerations that need to be discussed with your spouse.

Apelles Poh, certified financial planner and senior branch manager of Professional Investment Advisory Services, observes: “Fortunately, very few would take this plunge without first considering whether they can afford it. New parents understand the need to balance the responsibilities of looking after a baby and meeting the financial needs of a family.”

He proposes the following areas for discussion before taking the leap:

• Have a heart-to-heart talk with your partner.
• Do some calculations.
• Clear your debts first.
• Consider future employability.

An extract from: Are You Financially Ready To Be A Stay At Home Mum?