Life as you knew it has been turned on its head. You're sleep deprived and your time is now completely devoted to your new child. Thinking about finances is likely to be the last thing on your mind, but there are a few things you can do so you don't fall behind financially in the longer term.

Try not to live beyond your means - and avoid credit card debt as much as possible.

You may be stretched financially and tempted to put super at the bottom of your 'to pay' list, but consider making some contributions becuase you may be eligible for the goverment co-contribution scheme which can assist in making up some of the contributions that aren't being made by your employer.

Your partner can also make a spouse contribution to your super and potentially be eligible for a tax rebate.

The importance of a Will

You should consider making, or updating your will. You now have additional things to consider, such as ensuring that you appoint a guardian for your child should you die whilst they are still under the age of 18.

Protect your Family

They say that the bond between a mother and her child is fierce, and never more so than when her child needs protecting. Putting in place a personal protection plan for your family means that you eliminate a set of circumstances that can threaten your childs' well being. You don't need to worry about whether there will be an income if your partner has an accident of falls ill and can't work.

Addwealth for Women have developed a number of strategies that can easily help keep you on track to achieving your financial goals.

Why wait to be wealthy? Call Addwealth for Women today on 08 9284 3144 or register online www.addwealthforwomen.com.au

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