Q&A Thursday for April 12th

Here it is! Q&A Thursday! I really like this new section of the blog because it allows me to understand exactly what your concerns are and how I can address them, either short form here or long form in a full blog.

On to the Q’s!

Q1. I’m getting close to my due date and still need some things for the baby. What is a good resource for baby gear?

A. Baby showers. Just kidding! First, ask friends who have just had kids if you can get their hand me downs. Kids don’t stay the same size for very long and using old clothes is a great way to avoid having to pay a ton for clothes that will only fit for a few months. Craigslist is a good source, but I’ve had my own weird experiences with Craigslist so I sort of avoid it unless I can guarantee the quality of something. Also check out Thred Up for gently used kids clothes, Book Mooch for kids books, and Zwaggle for used gear like swings, changing tables, strollers and more. The consensus across the board seems to be that you should buy your own mattress for your baby. Consider one of those nifty beds that starts as a crib, converts to a toddler bed and eventually into a full size bed like this one for $200.

Q2. Should I get life insurance?

A. Well that’s a question that is very particular to you. In general if you have people who are dependent on your income you should have some kind of life insurance. This can be kids, adult parents, or spouses. There are 3 types of life insurance: term, whole, and universal and there are infinitely more opinions about each kind. Some people love term and hate whole and others love universal and thing term is a big scam.

There are some very specific instances where life insurance is a good idea besides just protecting your dependents’ financial future. If you have a mortgage or a large loan having life insurance in that amount allows your heirs to pay off that loan without having to liquidate your remaining assets. It all depends on your situation and a financial planner can definitely help you figure that out in addition to how much you should have.

Q3. I spend a ton of money eating out, how can I change that?

A. Instead of going out for full meals try just coffee or do walks with friends to catch up instead of drinks and dinner. I’m also a fan of Happy Hours and you can find them very easily through a Google search. In Seattle, The Stranger has an extensive list of Seattle Restaurants that you can narrow down to a local Happy Hour. This is mostly about establishing boundaries and re-training friends to find cheaper ways of hanging out with you than just finding cheaper places to eat.

If you have cheap ideas for hanging out with friends, post them below!

Q4. How was your Easter?

A. I worked. But I colored eggs the next day and had a fun dinner with friends. I’m now eating leftover ham and will make egg salad with the hard-boiled eggs later in the week. I LOVE Easter leftovers. This year also includes a cake!

If you have questions, submit them here and they’ll be answered in the next Q&A Thursday!

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