In this episode of Empowering Postpartum I sat down to talk with financial expert Alli Williams Founder and CEO of FinanciALLI Focused. We discussed the important and often overwhelming idea of preparing for the financial aspects of having a baby. Alli touched on how to plan ahead for expected and unexpected costs, the importance of proactive financial planning, and creative ways to budget for a new (adorable) addition to your growing family. If you are wanting to enter into your parenthood without the burden of your finances hanging over your head, you need to watch this value-packed episode!
About Our Guest:
Alli is the founder and CEO of FinanciALLI Focused, a financial literacy company helping people create a flexible financial plan they can actually stick to (no deprivation here). She has helped hundreds of people pay off debt, build savings, spend on what they value, invest, and feel confident with their finances. Alli’s work has been featured on Business Insider, Nerdwallet, Channel 7 News, and more. Alli has her MBA in Finance and lives in South Carolina with her husband and 2 sons. She spends her time at football games (Go Gamecocks!) and with a Starbucks latte in her hand.
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*Postpartum Planning and Prep Course now available!*
Show Notes:
Introduction (01:32)
Special guest Alli Williams, founder and CEO of FinanciALLI Focused
Importance of preparing financially for a baby (02:12)
Setting up sinking funds and savings accounts
Balancing debt payoff with spending and investing
Expected costs to consider (04:06)
Review maternity/paternity benefits and leave policies
Estimate loss of income during leave
Research medical costs and hospital fees (04:42)
Tip: Call the hospital for estimates on different birth scenarios
Unexpected costs after birth (17:46)
Postpartum purchases (e.g., breastfeeding supplies)
Increased food expenses (takeout, meal delivery)
Childcare planning and costs
Budgeting strategies (26:48)
Budget per paycheck rather than monthly (30:31)
Aim for 15-minute weekly check-ins
Balance expenses throughout the month
Financial accounts for children (35:11)
High-yield savings account
Custodial account (UGMA/UTMA)
529 college savings plan
Teaching kids about money (40:33)
Explain costs and delayed gratification
Encourage saving and budgeting skills
Discuss credit cards and compound interest
Connect with Alli (47:44)