How Do I Balance Supporting My Children With Saving for My Future?

On this episode of the Money Confidential podcast, host Stefanie O’Connell Rodriguez turns to three past expert guests for advice on balancing financial responsibilities for yourself and your kids.

future money on balance
Photo: Olivia Barr

Every Monday on the Money Confidential podcast, host Stefanie O'Connell Rodriguez, a nationally recognized money expert, delves into your (confidential) money problems and delivers smart, practical, and completely doable solutions that will help you work toward your ultimate financial goals. This is the place to come for real talk about money—and real solutions that actually work.

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On This Episode

Raising kids can bring a lot of joy and love into your life—and cost you quite a bit of money, too. So how do you balance out your financial responsibilities to yourself, with those to your kids? In this episode, host Stefanie O'Connell Rodriguez brings together the best advice from three past expert guests to help you sort it out.

Meet Host Stefanie O'Connell Rodriguez

Money confidential podcast - host, Stefanie O'Connell Rodriguez
Caroline White Photography

Stefanie is a nationally recognized personal finance expert ready to talk work, worth, and money with unapologetically ambitious women. Her work has been featured in The Wall Street Journal, The New York Times, USA Today, Cosmopolitan, Glamour, and Oprah Magazine, and Stefanie has appeared on ABC World News, CBSN, Fox & Friends, Fox Business, Bloomberg, The Dr. Oz Show, The Doctors, and more to share her smart, practical solutions to any money problem.

Meet Our Expert, Alyssa Davies

alyssa davies headshot
Courtesy of Alyssa Davies

Alyssa is the founder of, two-time award-winning Canadian Personal Finance Blog of the Year. She has been featured in many notable publications, including The Globe and Mail, FLARE, Global News, and more. She is also the author of The 100 Day Financial Goal Journal.

Meet Our Expert, Bridget Casey

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Courtesy of Bridget Casey

Bridget Casey is the founder and content creator of Money After Graduation. From paying off debt to investing in the stock market, Bridget provides clear, actionable advice to transform your finances. Bridget holds a Bachelor of Sciences from the University of Alberta, and an MBA in Finance from the University of Calgary. She is regularly featured as a millennial finance expert as a guest on BNN and CBC, and was recognized as one of Alberta's Top Young Innovators in 2016.

Meet Our Expert, Ron Lieber

ron lieber headshot
Courtesy of Ron Lieber

Ron Lieber is the author of The Price You Pay for College, and The Opposite of Spoiled. He is the "Your Money" columnist for The New York Times. Two of his books have been New York Times bestsellers, and he is a three-time winner of the Gerald Loeb award, business journalism's highest honor.

Advice From the Episode

Alyssa Davies

"[There's that] feeling of like, 'I should be doing everything all at once,' but if you can't do it all at once, you're not the only one. I don't think anyone's doing it all at once. So don't feel like you're alone in that world."

—Alyssa Davies
  • Save for goals before they've happened. "Maybe one day, 10 years from now, you decide you want to actually have a kid. At least you have the choice because you have some financial means already put aside for that." — Alyssa

Bridget Casey

"You have to take care of yourself and your long-term financial security first before your child's—and this is very hard for parents when you tell them to save in their own accounts before their kid's college fund. But your long-term financial security is the financial security of the family."

—Bridget Casey
  • If you can afford to do so, it's worth it to pay for childcare so that you can go to work, therapy, or even just award yourself some down time. "Childcare is an investment in your career, even if it looks like an expense on your budget right now." — Bridget

Ron Lieber

"We are in the adult-making business as parents. We are not in the business of manufacturing college students, where success is only measured by whether your kid gets to go to a place that only accepts a single digit percentage of students. That's not what this is about."

—Ron Lieber
  • Start talking to your kids about finances and college early on. "Kids should be ready to go into high school with a head of steam, if they're going to need to, in effect, earn their way into the schools they want to go to through academic scholarships. Don't just spring this on them junior year." — Lieber

Links and Resources

Download the transcript for this episode.

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