There’s an old saying that goes, “If you don’t have a plan, then you plan to fail.”
I had a very interesting conversation with two gentlemen recently on the subject of savings, and how paying child support has literally made that impossible for them.
When you meet someone and fall in love, the last thing on your mind is that the relationship won’t last. The reality, however, is that in many cases it may not.
If things do, in fact, fizzle out, you might be put in a position where you are paying a third of your take-home pay to child support. In that situation, saving and investing will be challenging, to say the least.
Depending on your income and other expenses, it could indeed be, as these two men have found, impossible to do so.
Guys: you need to put money away, and invest it, long before that baby comes.
Afterwards may be too late.
Click the image of the book at left to be taken to its Amazon page. (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)