UK's future king has finally arrived! While Prince George Alexander Louis has plenty of time before he takes the throne, William and Kate need to prepare for his future. And even though members of the royal family have millions in their accounts, there are still financial concerns that need to be handled. USAToday.com writer Hadley Malcolm pointed out that it doesn't matter whether you're part of a middle class family or someone of royal blood. Financial planning for a child is a must. The US Department of Agriculture reported that the costs of raising a child until he turns 17 totals at $235,000. Most parents only think about the bigger costs, such as college tuition and health care, and pay little attention to the costs of diapers, milk and other “small” expenses that can add up to a sizable fortune. With this in mind, parents must learn how to budget and properly allocate funds, both for everyday essentials and savings for future use, to avoid financial problems down the line.
http://usefs.com/industry-news/welcoming-the-royal-baby-nows-the-time-for-some-financial-planning/
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