10 Financial Events to Plan for in Your Children's Lives

Lots More Information


How Trusts Work

How Trusts Work

You don't need to be a teenage millionaire to have a trust fund. Learn more about trusts and how to use them at HowStuffWorks.

Author's Note: 10 Financial Events to Plan for in Your Children's Lives

Full disclosure: I don't have kids. Instead, I have a gaggle of nephews who will pick out my nursing home, so I've worked hard to be part of their lives. One thing I learned early on is that while they'd never turn down money or stuff, what we all enjoy the most is adventure. Birthday celebrations began when they were 2 as afternoons at the zoo, walks in the woods or ice cream for lunch. As the boys grew older, their birthdays became weekend adventures to nearby cities, museums and movies, each accompanied by food of their own choosing. And as they continued to grow -- they're all teenagers now -- they became more involved in what we did. Planning, making suggestions, learning how to survive the disappointment that no matter how much I loved them, I never was going to go skydiving -- or watch them do it. I'm so glad my family is willing to share its kids. It's been great for me, the kids and the parents. And I'm counting on it to pay off in the long run -- with a room at the best nursing home in town.

Related Articles


  • Bentley, Vicki. "What does it cost to homeschool?" HSLDA. 2013. (Oct. 17, 2014) http://www.hslda.org/earlyyears/Costs.asp
  • Family Education. "When Your Teen Wants a Car." (Oct. 17, 2014) http://life.familyeducation.com/teen-driving/personal-finance/47214.html
  • For Dummies. "Taking a Close Look at Disability Insurance." 2014. (Oct. 17, 2014) http://www.dummies.com/how-to/content/taking-a-close-look-at-disability-insurance.html
  • Guillot, Craig. "The Cost of Raising a Special Needs Child." Mintlife. July 23, 2013. (Oct. 17, 2014) https://www.mint.com/blog/planning/the-cost-of-raising-a-special-needs-child-0713/
  • Huntington Bancshares. "Backpack Index." July 22, 2014. (Oct. 17, 2014) http://huntington-ir.com/ne/news/hban072214.htm
  • Internal Revenue Service (IRS). "529 Plans: Questions and Answers." Sept. 23, 2014. (Oct. 18, 2014) http://www.irs.gov/uac/529-Plans:-Questions-and-Answers
  • Julien, Stacy. "When Adult Kids Move Back Home." AARP. May 25, 2012. (Oct. 18, 2014) http://www.aarp.org/money/budgeting-saving/info-05-2012/adult-kids-move-home.2.html
  • JumpStart. "How to Raise a Money-Smart Child." (Oct. 17, 2014) http://www.jumpstart.org/assets/files/MoneySmart%20Child.pdf
  • Lino, Mark. "Expenditures on Children by Families, 2013." United States Department of Agriculture. August 2014. (Oct. 11, 2014) http://www.cnpp.usda.gov/sites/default/files/expenditures_on_children_by_families/crc2013.pdf
  • National Funeral Directors Association. "Statistics." April 12, 2013. (Nov. 12, 2014) http://nfda.org/about-funeral-service-/trends-and-statistics.html
  • Private School Review. "Average Private School Tuition Cost (2014-2015)." (Oct. 17, 2014) http://www.privateschoolreview.com/tuition-stats/private-school-cost-by-state
  • TIAA-CREF. "Baby on the Way?" (Oct. 17, 2014) https://www.tiaa-cref.org/public/advice-guidance/education/financial-ed/empowering-women/how-to-financially-prepare-for-a-baby?p=1331944006928
  • The Wedding Report. "Average Wedding Cost." (Oct. 18, 2014) http://www.costofwedding.com/

More to Explore