Mom, I want to ask you.
You know your son very well.
So how was he with money?
Terrible.
Every single one.
They're my babies man, like really.
You've got a baby on the way Rashaun
Hi, guys.
We're having a baby.
But also trying to move in together
as well.
So we're going to need some support
with our finances.
So can you please help.
Please.
The average child costs around
£150,000 to raise
to 18 and
I've got four.
You've got four, Oh my gosh. Sorry. Sorry.
Hello
Oh, Hiya.
You alrite yeah.
The all important question.
Why do you have money on your mind?
Well, we have a baby on
the way.
Due in four months.
Oh, my gosh.
Very soon.
We're currently looking to buy our
first house as well.
So we've been saving as well so we
need some help from you guys.
Let's start with, no not you.
Dr. Nikki.
Hey, Hiya.
So we're going to look at your money
mindsets, come through.
So now we're going to play to see.
How well you know each
other.
Oh gosh we're gonna be put to the test.
Who is the biggest spender?
Pretty unanimous.
Okay.
Who earns the most?
Okay.
You both say you spend the most
and you both say you earn the most.
So what's going on
there?
At times it can be difficult.
He does spend money.
I am like, we have a
baby on the way. We need to get back
on track. But yeah, we do have a
little bickers here and there, just
about spending how
much the items cost,
how much the shoes cost.
Do you really need it?
We're actually ultra impulsive and
I'll be like, yeah, I've bought a
game today.
So do you think there's an element
of FOMO in all of this?
So fear of missing out.
Fear of missing out on the game?
I most definitely think so, because
obviously it's the thing of, my
friends will probably have the game
and, aw you getting the game like.
Yeah.
Ok, yeah.
Would you say you're a bit more
controlling person?
I would say that I more I
don't know.
I don't know.
No, ok no.
When I know that things are kind of
going sideways, I like to bring it
back.
This is where it's going to be,
isn't it? This is where you have to
make sure that you're open and
honest about all of this.
Unplanned spending can be
emotionally driven over
the next couple of weeks.
Start to identify your unplanned
spending and look at the emotions
behind that. It's really helpful
to know if boredom or excitement
or just guilt or frustration
is causing you to spend.
Once you identify that, you can
change it.
How you feeling, how you feeling?
There's so many priorities right
now. It's an overload.
We're trying to just, you know,
balance everything, all the
thoughts/ getting things done.
No that's great. That's great.
So I'm gonna give you some of my, my
top tips. You know, I've got a
couple of kids.
Well four to be precise.
I tell myself a couple to feel
better, but, yeah, that's when I
remember the other two. Listen, I
count everything in.
Nappies and wipes, so my friends
will be like, Let's go on holiday.
I'll be like, that's like a hundred
wipes and like 500
nappies. I'ma stay at home, d'you
know what I mean, they cost a lot.
So it's really important to have an
account for that, but also to start
saving for your child's future.
So you can open a junior ISA once
you get the birth certificate, and
then they can take over it when
they're 16.
But they can't start spending or
using that money till they're 18.
Having a baby is one of the most
amazing moments of your life,
so try to use the time before
Baby is born to build up a savings
pot for future costs
such as nappies, wipes,
formula, etc..
Another thing that I did was speak
to friends and family who recently
had kids and ask for any up to
date advice.
Mum and Dad are great but, it's been
a while.
So my second tip is don't buy
loads of stuff.
Listen, the temptation is there.
When I had my first kid, we just
walking around, yeah, we'll have one
of those we'll have two of those,
four of those.
Half of the stuff we did not use.
I remember I bought this big rocking
chair for the baby to go.
One. Baby hated it.
So don't feel like you have to buy
everything before the baby gets
here, and that way you make sure you
actually buy things that you're
going to actually use and actually
need.
I think tha'ts so helpful because at
the moment, at
the moment, that is what we're doing
yeah.
Making wishlists and, don't forget to get
this, and don't forget that. Yeah.
And then some of the thing I'm just like hmm.
That leads me to my third thing,
family and friends are there, use
them. Don't feel like you have to do
everything on your own.
Let people know what you're looking
for and then they'll be more than
happy to help.
Yeah, I'm looking forward to the
baby shower.
My last point. Prepare for the
unexpected. With a baby, anything
could happen, like there's not one
size fits all. You've got all lists,
got all the plans in place, and
we're all ready to go.
But as the famous boxer once said,
"everyone has a plan until they get
punched in the face".
And trust me, having a baby
can feel like you're getting punched in the face regularly.
All right. So, we need to make sure
you're working together. you're working
as a team, you're not fighting one
another, you're supporting each
other. And I promise you, everything
will be all right.
We've got this.
I think it's time to get some home
truths, and I feel like we've got
the best person to help me with
that. So bring on Mum.
Hi.
Mum. You know your son very well.
So how is he with money?
Terrible.
That's the word I'm looking for,
Terrible.
Packages keep on coming.
Do they keep...
Even today.
Today.
Look what came in the post.
Oh no.
One.
I thought, no, that can't be for
Rashaun.
Then half an hour later, two,
that's for Rashaun.
There's a lot of shoeboxes here.
Yeah. This used to be ten times
worse, so this is a condensed
version.
Wow, this is condensed.
This is condensed.
This is condensed, then my wardrobe
is sparse. Okay, and then we turn
around and we've got the games.
Look at all these games you've got.
Yeah,.
Well, obviously, when a baby comes,
gonna have to have a baby room.
Yeah.
So what do you think, selling some
of this to fund that baby room?
I do kind of use all of my shoes I
get.
Are you sure you use every single
one?
These are my babies man.
Like, really?
You go baby on the way Rashaun,.
True.
You've got to pick a baby.
That's true.
You've got to pick a baby, you do.
That is true.
They're expecting.
How you feeling about that?
I'm happy.
Happy?
Yes, but are they ready?
I don't think so.
Caroline, how are you feeling?
Yeah, I do agree with Mama,
that it can sometimes be hard,
sometimes with Rashaun
and his packages.
He has a passion for gaming, and it
does sometimes overspill
into kind of,
you know, just things that we're
sure and should prioritise in paying
for. And I think sometimes his
view is that he wants to get this
all out the way before the baby
comes.
We have had a great conversation and
I've learnt a lot from you guys and
from Mum, so thank you guys for
giving me everything.
And based on that I've got a few
tips that I think will help you
guys. So the first one I will say is
Rashaun, I don't think anyone
should ever give up what they love
and you love gaming and I think
you should keep going with that.
But the important thing is it's not
just buy when a new games out
is actually to plan for that.
Now my favourite way I talk about it
all the time is to have a fun fund,
for the things that make you happy.
And the second one is, I want you
guys to really plan
in date nights, right?
Because when the baby comes is going
to be pretty much just about the
baby. You start putting money in
throughout the month and that you
know, you're going to dip into that
pot and that pot is dedicated for
your date nights. And lastly is
about joint accounts, right?
Joint accounts are super duper
important because that way you
can put all your money in there and
see what you're spending on.
It gives you more visibility on your
outgoings. So I think that will help
you guys to really ace it and be
the amazing parents I know you guys
are going to be.
I'm super excited.
If you want to give your child
my middle name, I give you full
permission and I'm super excited
to see you guys become the amazing
parents your going to be.
As first time parents, it's equally
important to remember to work on
your relationship schedule in
monthly dates and create a fun fund
to fund those dates.
Whether that's going out, having a
picnic whatever you choose to do,
you got to put of money there to
fund that.
Guys, we got a message from Caroline
and Rashaun.
Awe, yeah.
So let's hear what they've got to say.
Hi, guys.
Hello.
Thank you so much for your
support. We really appreciate it.
I've seen some growth in us.
Yeah, I feel like the first step was
freezing the shoes.
And we really have looked into
looking at baby's accounts
and savings, you
know, we're putting in an application
and hopefully that will help us with
saving.
I feel like we've kind of slowed
down on the baby stuff as well we've
got whatever we needed that's
necessary, and now we're just making
time to save.
Yeah, and we've taken on board about
the dates and putting together a
budget there for the dates
and yeah, that's been really
helpful.
Yeah. We just want to say thank you
once again for helping us out.
And guys, I really appreciate it.
Thank you so much.
Thank you.
And we'll make sure to send you baby
pictures.
Come on.
That is amazing.
It's so great to see that we've
helped them out and they can move
into the next chapter of their lives
together.
Yeah, they're going to be an amazing
team for their little one.
And that's what I love about what we
do is just, having that little bit,
like they set up an account up for
their kids and I've played a little
part in saving the legacy for the
future, like.
Uncle Eman, Uncle Eman.
C'mon.
Guys we've done it again.
We've done it again
Come on, high fives all round.
High five.
Let's go.
Woo
Ready for the next one?