The 10 Most-Asked Financial Questions About Family Building, Answered

Starting a family, no matter what that looks like for you, costs women a lot. And not just financially. The effects on the body and mind from the process of becoming a mother are a whole other thing. Shockingly, this all gets overlooked in our society (that’s momwashing for you).

The all-women team of financial experts at Ellevest know this professionally — and those who are also moms know firsthand, too. That’s why we’re answering the 10 most-asked financial questions about family building: to help you lighten your mental load and feel more prepared when it comes to financial planning for starting a family.

Of course, the answers to these family-building questions will vary depending on your unique situation — where you live, what life stage you’re in, what your career looks like, and what your timeline looks like. But one tip that applies to anyone at any stage of the family-building process is to be as realistic as possible about the cost of having a family.

Use this Q&A to see what that means for you, so you can get a better idea of your financial options as you navigate how to best build your family.

🌈 ​​5 money convos for LGBTQIA+ couples

Financial planning can look a little different for same-sex couples. If you’re joining your life with someone else — no matter how you or they identify — we encourage having money convos early and often.

But there are a couple of conversations that are especially important for LGBTQIA+ couples. Here are five things to talk about with your partner (and your financial planner), ASAP.

💭 Links in the group chat

• 💌 MUST-READ: Gloria is the in-between media brand we’ve been missing. The newsletter for self-described “not young, but also not old” women features interesting interviews, fashion stories, and curated recommendations. They share stories about everything from sandwich caregiving to mid-career networking to why you can’t sleep at night, and we have a hunch you’ll like it. You can subscribe for free here.
• 🎯 FROM ALICES TO DINKS: Are you familiar with all the jargony acronyms that describe your demographic cohorts? Business Insider has a handy list defining them all for you — where do you fall?
• 💸 KEEPIN’ IT IN THE FRIEND GROUP: We’re obsessed with this story about how Korean “savings groups” are keeping friendships strong.
• 🎬 MELINDA FRENCH GATES’ THIRD ACT: “I feel like, Wow, I’m 60. I better surround myself with people and still travel [so that] I’m still absolutely learning, because the world is moving, the world is changing,” she says about going it alone.