Starting a family is one of the most exciting chapters in life. It’s also one of the most life-changing. When two becomes three, or four (or more) there are a lot of new and far more complex financial considerations that come into the equation.
Managing that can start with something as seemingly simple as creating a new budget. However, there are other ways you can plan ahead for extra peace of mind. At Power2, we can help you with financial planning for this momentous stage of life.
How do you make a family financial plan?
There are a lot of things on your mind when it comes to starting a family. Amidst all the baby books, nursery decorating and choosing which pram is best, there’s a need to manage the financial framework that will support all this and more. Learning how to budget is a big part of this (and you may think you’re OK at it). However, when you have a baby it’s time to level up!
We can show you how to create a family budget planner. You can use this as an exercise in accounting for unplanned expenses. Lining up your plan with your actual spending can allow you to track where you are going right, or wrong. This sets you up to be more disciplined, forward-thinking and flexible enough to know where you need to be financially in order to support your family’s future lifestyle.
The role of insurance in your financial plan
Your financial plan will extend to such aspects as insurance. Obviously, this is because many medical expenses come with pregnancy, childbirth and raising a family. From prenatal to antenatal care, there is a slew of ultrasounds, check-ups, procedures and vaccinations that will need to be taken care of. You’ll need to factor in the cost of medical cover and out-of-pocket expenses even if/when you have the right coverage established.
While it can feel like a bit of a dent in your finances, taking out insurance (particularly life insurance) has its silver linings. It’s the assurance in knowing your family will be taken care of should something untoward happen to you/your partner. You can lay the groundwork for such things as pre-funding your children’s education and maintaining a mortgage on the family home. We can help you to decide on an insurance policy that suits your circumstances and your budget.
Power 2 Brisbane are fantastic! Extremely helpful and prompt. Recommended from a friend and I am very happy with their service. Thank you!
00:01 05 Aug 21
I've had the pleasure of working with Power 2 Accounting and Financial Brisbane for many years now. Sue is always a pleasure to meet with during tax time. I've recently taken on some financial services with Power 2 Accounting & Financial Brisbane. The results have been well above the initial projections provided by Sarah, and well above my own expectations.
02:44 17 Jul 21
Used these guys for the first time this year and from the beginning to end our experience was great. Sheryl booked us in and she was lovely. Gary done our tax returns and he was awesome. Would highly recommend these guys to anyone 👍🏼 Will definitely continue to use Power2 for all our taxes from now on.
06:07 02 Jul 21
Love working with Power 2! I say Power 2 because everyone there is awesome. I don't feel like "just another client". It's personal and I know they have my best interest at the core of everything they do! Cheers Gary, Sue and Michelle
00:25 02 Jul 21
the team at power2 are fantastic ive been going there for years and many more, love their docusign option so easy, thanks team, rgds Rod
08:48 28 Jun 21
As executor of an estate, I had tax issues to tidy up. I found Power 2 - accounting approachable, reliable and efficient. Was happy with the service and the value for money.
04:31 25 May 21
If you are looking for an accountant I cant recommend Gary Parsons enough. Since taking my business to Power2 Gary has been a huge help to the growth of my business. His knowledge and commitment to helping me manage my business along the way has been invaluable.
02:09 17 May 21
a Canadian Permanent Resident.I’m also an Australian Citizen with Real Estate rentals in Australia.Gary Parsons and the power2 team have been invaluable, helping me to manage my financial affairs from overseas with a down to earth, professional, personal and friendly service.
06:17 06 Apr 21
I appreciate the outstanding service from Gary Parsons at Power2 Brisbane in completing the preparation and submission of several tax returns within a short timeframe as well as providing good quality tax planning advice.
03:37 24 Mar 21
I have been dealing with Gary Parsons for many years now at Power2Brisbane and processing my Tax with Gary is a breeze. Gary is always available when I have a question about my business and is always happy to help. I would certainly recommend Gary & Power2Brisbane to anyone out there looking for Accounting Services.
23:44 10 Mar 21
Gary is a wonderful accountant. His communication & diligence is second to none. I would recommend him to anyone with a small business.
Josh Purcell (Purce)
06:48 28 Jan 21
Been going to Power2 accounting for a few years now, been seeing Gary each time always happy with my return.
00:45 03 Jan 21
Dan had been exceptional in providing me with ongoing tax advice relevant to my unique tax circumstances. I have phoned him with a number of questions throughout the year and he is always available to help out. Definitely would recommend!
01:33 19 Oct 20
I have been going to Gary for about 4 years now. I have always been provided with a friendly and great service and good advice. He always has time for questions and thoroughly explains information back to me. I would recommend him to anyone looking for a great down to earth accountant.
03:24 15 Oct 20
Gary has been doing our tax returns for many years now and i highly recommend him due to his professionalism, knowledge and his affable and friendly nature is just an additional bonus. Thoroughly recommended
07:06 13 Oct 20
My Wife and myself have been using Power2Brisbane for several years for both our personal and small business accounting and tax needs. We have found their service to be friendly, timely, accurate and provided at exactly the right level (i.e. they provide the advice we need). I have personally really enjoyed working with Gary and the other staff there. I would definitely recommend Power2Brisbane.
00:51 29 Sep 20
I have used Power2 for many years now and have never been disapointed with their services. Great business with great people working there. Highly recommend!
08:35 23 Sep 20
I have been using Power2 for nearly more than a year now. Services from Power2 are outstanding. Definitely recommend people to use Power2 service. Thank you
22:28 18 Sep 20
I have been using Power2 for around 5 years now, with both Gary and Dan taking care of me. While I only see them once a year, it is always a friendly experience. Gary is a complete professional and very knowledgeable - but always able to explain things to me in a clear and simple way. They make tax time a painless experience for me which is exactly what I want. Highly recommend Power2.
07:13 17 Sep 20
We had our first ever company and trust tax returns completed by Gary and the whole process was fantastic - we couldn't recommend Gary and the team at Power2 more highly! Thanks for the great work!!
09:02 14 Sep 20
Gary has proven to be an exceptional and knowledgeable accountant. His attitude and professionalism throughout the entire process of Tax-Time is invaluable. Would highly recommend his services.
06:30 03 Sep 20
I recently had my tax done at this office and on my visit all the staff and Gary that divided the service to me lost to the highest standards I have been going to this company for very long time more than 20 years and I would recommend this company to anyone the service that they provide is outstanding and I always make you feel comfortable and I'm more than happy to say I will see them again next year thank you by Kenneth Parry
23:51 31 Aug 20
Gary is qualified and experienced accountant. I've experienced over 10 years of quality client services from Gary and the team and I fully endorse Power2Brisbane.
06:04 16 Jul 20
Extremely friendly team. I’ve done my tax returns here for the past three years and with Gary specifically for the past two years. Gary is extremely knowledgeable about what he is doing and always helpful sorting all my documents. The new office space is also very clean and spacious with an amazing receptionist who always makes you feel welcome.
05:29 14 Jul 20
Friendly, professional, taxation experts a pleasure to do business with. Great job guys!
23:08 06 Nov 19
對於語言不通的客戶 也是耐心幫忙 很棒的服務 值得推薦信賴👍
05:16 06 Nov 19
We've been working with Gary, Daniel and their team for our corporate accounting for a number of years now. Their knowledge and attention to detail is second to none. We highly recommend any business looking for accounting advice to speak with Power2.
01:45 19 Feb 19
Power2 are always there to help, no matter what the request. Over the past few years they have provided us with advice and services that we can understand and in a timely manner. I would strongly recommend Power2 Brisbane.
08:50 18 Feb 19
I have dealt with Power2 for a number of years now and find the staff excellent and only too happy to assist. Will be dealing with them for a number of years yet.
02:54 14 Oct 15
I'm a Certified Financial Planner and have now been 20 years in the financial planning industry, the last 3 of these at Power2 Brisbane.I take great pride and pleasure in the work we do, working with our clients to manage their tax obligations and plan for their futures. For me, there is no greater satisfaction than to see the positive impact we have in helping clients to achieve their goals and obtain financial security for themselves and their families.
02:39 14 Oct 15
Very happy with my experience, staff was very friendly. Will go back again
Sarah Davies is our financial planning expert. Sarah is a CERTIFIED FINANCIAL PLANNER® and a professional member of the Financial Planning Association of Australia. She is registered with the Tax Practitioners Board as a Tax (Financial) Adviser No. 24792478. If you are after financial planning services, give us a call and ask for Sarah.