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Money and Finances
Reply to "We are adding a child to our family unexpectedly…how to budget"
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[quote=Anonymous]How old is the nephew, and how old are your kids? I think I'd take money from savings to jump-start the nephew's 529 to about the level it "should" be based on where your kids are and their ages, and then replenish the EF going forward. I don't think I'd skip the vacation -- having a cheap/free vacation rental is worth a lot to a family of 5, too. I think you're making good choices, but don't do anything too drastic. Probably not worth it to go after the assets of the guy in prison -- what is he likely to have that would be worth the strife (especially as it would put nephew potentially in the middle between new "parents" and dad). And don't forget you'll get an additional deduction to offset some of the expenses.[/quote]
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