This is a part of a sponsored collaboration with Prudential and Dime Media. However, all opinions expressed are my own.

As future first-time parents financial planning has become a priority in our lives. In the past Carmen and I would only think about us two as a couple, but now with the arrival of our first born we are thinking about all the expenses that will come in this new stage of our lives. For us it has always been a priority to be physically and mentally fit, but now being financially stable it just as important to provide for our growing family.

This is where we feel fortunate to have come across our friends from Prudential who are always providing solutions to help people improve their financial wellness, but more specific with subjects related to our Hispanic community.

According to a recent publication published by Prudential for Hispanics, the disconnect with financial planning is largely rooted in lack of awareness and familiarity and Carmen and I couldn’t agree more with this statement. As we were both speaking we personally don’t have the example from our families of planning for the future and this represents a challenge. Nonetheless this can the perfect opportunity to show people that follow us that it is very important to have a budget and to educate ourselves about the different ways of how we can have a successful financial future.

Getting a helping hand from Prudential Financial Professionals has already helped us tremendously in order to be more focused when it comes to planning for the present and the future where we will be incurring a lot more expenses once our baby arrives.

Working with a budget and also saving for the future is one of the recommendations and solutions that Prudential suggests that will help to protect ourselves and our future baby. The first step for us will be to balance how much we earn vs. what we spend. Thankfully we are already on top of this first task but I love the interactive tools “Slice A Budget” that you can find in the following link that will help you to have more clarity of this important step.

Once the budget is in place the next step for us is to think about saving for our baby and I like the advice from Prudential where they recommend that the key is to assign easy-to-handle dollar figures for each of our goals and to take action steps even though they may seem impossible. This is another reason as to why we can use a trusted Financial Professional that has the financial knowledge to better guide us and who better than a Prudential Financial Professional that can become our accountability partner.

In addition, something that Carmen and I already put in place is “wants” vs. “needs” and we were glad to find more information on this from our friends at Prudential as to how they recommend to save for a rainy day and expect the unexpected. Unforeseen circumstances are unavoidable, but there are ways to work around some unexpected life struggles. As I mentioned Prudential recommends thinking about “wants” vs “needs” such as putting off spending money on large purchases and discretionary spending. To help increase that emergency fund is to set up automatic, recurring monthly transfers in there and most importantly pay down debt.   

Now more than ever because of this new and exciting chapter in our lives we understand that working with Financial Professionals Rocks. They will help us eliminate roadblocks and they will take an unbiased and holistic view of the financial picture. It’s important to note that they can help organize so that we make valuable, cost-saving decisions that affect our future.

It is an honor for Carmen and I to be named 2018 Prudential Ambassadors and we will be at Hispanicize LA from October 11-13th. Hope to see you all there to talk more about being financially fit with everyone.

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