The biggest financial decision you will make as a parent

Deciding what clothes to wear and movies to watch may happen at the individual level, but deciding on financial matters must surely occur at the household and intrahousehold levels.

The people in your household — your spouse, children or even the extended family members who live with you — influence your financial decisions. With all the arguments and decision-making inside your home, you must assume a captain’s role in leading them to the path that hopefully avoids the storms in life.