Everyone has finances, but many of us aren’t sure where to begin with planning them. Now is the time to let go of any fear of numbers and start preparing for the future.
In this episode of Momcozy Village: Together We Grow, host Lalaina Rabary sits down with Adrianna Adams, Head of Financial Planning at Domain Money.
Together, they discuss the key steps moms should take now to secure their future and plan their finances effectively. The first and most critical step is to audit your finances in full. That means ingoings and outgoings, savings - everything needs to be accounted for, and you need a clear and honest picture of your finances before you can thoroughly plan.
Secondly, what are your long-term and short-term goals? These may involve adding another child to your family or moving to a bigger place, but the main thing is to know what you're dealing with.
Many moms also overlook estate planning, including drafting a will and appointing a power of attorney. This matters because parents want to make sure their children are cared for if anything happens to them.
A common question parents have is: How much does it take to raise a baby? The answer isn’t simple because it depends on your personal situation. Adrianna says that understanding your finances and planning ahead are the best ways to figure out what you can afford when starting or growing your family.
Overall, Adrianna believes it’s important to look at the big picture. Thinking about your ideal situation and planning backwards can help you feel more at ease and clear about your finances.
Episode Highlights
00:42 – What should expectant moms consider when looking at their finances?
04:46 – What are some steps or considerations that moms overlook?
06:45 –What is an estate plan?
09:15 – How much does it actually cost to have a child?
12:01 – It’s easy to be afraid of your finances if you don’t look at them.
13:44 – It's important to realign your financial goals when you decide to have a family.
15:25 – Having open and honest conversations about finances and work expectations is critical in any partnership.
17:02 – Having a financial planner on board can help you a lot.
18:58 – How far ahead should people start planning their finances?
21:31 – There are lots of things moms can do to help reduce the amount of time they spend on their finances.
24:19 – The three key steps moms can take away to help them control of their finances.
About the Guest: Adrianna Adams
Cleveland native Adrianna has spent her entire career empowering individuals through financial planning. Before joining Domain Money in 2023, she honed her expertise at NCA Financial Planners and Morgan Stanley.
She is passionate about translating complex financial concepts into goal-oriented, personalized solutions. Adrianna received her Bachelor's degree in Financial Planning from the University of Akron.
About the Podcast: Momcozy Village – Together We Grow
Momcozy Village: Together We Grow is a podcast where moms gather to learn, share, and support each other. Hosted by Lalaina Rabary, each episode features inspiring conversations on motherhood: from career transitions to mental health and beyond.
Backed by Momcozy, makers of innovative wearable breast pumps and cozy nursing bras, the podcast is part of a movement to empower moms through every phase of early motherhood.
Enjoying the Show? Please subscribe so you never miss an episode. If you’re enjoying the conversations, consider leaving us a 5-star review—it helps us grow the village and support more moms.
Narrated by Abbe Opher
Music by Sokratis Seirlis
What is Momcozy Village - Together We Grow?
Welcome to the Momcozy Village - Together We Grow. Dive into candid conversations with host Lalaina Rabary, a devoted mom to a lively two-year-old daughter from Momcozy Team, alongside maternity experts and remarkable moms. Together, we'll explore the highs and lows of motherhood and uncover new possibilities for personal growth.
In each episode, you'll have the opportunity to hear practical parenting tips tailored to your needs, inspiring mom stories, and receive essential tips on self-care and personal development. Discover how to thrive while nurturing both your baby and yourself in our community.
Raise a child, nurture yourself. Embark on this journey of support, connection, joy, and self-discovery with us!