The arrival of a new baby always brings changes in your finances. In some cases, one parent might choose to quit working altogether to stay at home and care for the child. Or, your household income might decrease for a period of time until both parents are working outside the home again, at which point you have childcare expenses to consider. Money can help you forecast your household income to make sure you will have enough funds to cover your budgeted expenses.
1 On the
navigation bar (The strip at the top of the Money screen where you can click to go to the different areas in Money.), click
Planner.
2 Click Lifetime Planner.
3 In the left pane, click About You.
4 At the bottom of the screen, click New.
5 In the Add Person wizard, click A child I plan to have. Follow the instructions on the screen.
3 If you or your partner plans to take time off or work less, schedule it in the Career place of Lifetime Planner.
How?
1 On the
navigation bar (The strip at the top of the Money screen where you can click to go to the different areas in Money.), click
Planner.
2 Click Lifetime Planner.
3 In the left pane, click Income.
4 Click either <Your> Career if you will be taking leave, or click <Your PartnerÆs> Career if your partner will take the leave.
5 In the middle of the screen, click New.
6 In the New Career Event wizard, click either Take unpaid time off or Work fewer hours, and then click Next. Follow the instructions on the screen.
4 In the left pane, click Results to see how these goals affect your long-term forecast.
How do I use the Budget Planner to set up a budget?
How do I adjust my contribution to long-term savings?