Any life change can be hard on a family budget, even if it is a happy event like the birth of a child. In fact, members of MMI’s Advice Team regularly receive questions about family and finances. In case you have similar questions, I wanted to share few frequently asked questions and answers.

Dear Advice Team: We recently adopted a son. We are all doing very well, but my concern is that at the end of every month we are broke! I am just buying things for our son. My husband doesn’t seem to understand how much a little baby can cost. Help! -Julie, Colorado

Julie: The not-so-good news is that you can plan on spending many thousands of dollars each year to raise your child until they reach age 18; and this doesn’t include college. If the amount seems overwhelming, you take comfort in the fact that many new parents worry about money. However, most adjust quickly and find that it is definitely worth every penny! Developing short-term and long-term goals can help you to stay focused. Make sure that your will and insurance policies are updated to meet the needs of your new family. Finally, keep the lines of communication open. Communication can be the key to a financially successful family life.

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Dear Advice Team: We just had our third daughter. On top of college costs, the idea of paying for three weddings is totally overwhelming. What is the best way to go about preparing for these upcoming costs? -Jeri, Arizona

Jeri: Cars, college, and weddings are just a few of the high-ticket items you may fund in the future. Fortunately, time is on your side. If you started saving $200 per month now in a money market account (5%), by the time your youngest child is age 18; you will have $69,840 and could avoid borrowing. Also, it is important to realize that having girls does not necessarily mean that have to shoulder the financial burden of their weddings. Today’s rules are not so hard and fast.

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Dear Advice Team: We are pregnant with our first child. My wife and I enjoy nice things. I worry that our budget will not accommodate our lifestyle and the baby’s expenses. Do you have a sample budget we can use? -Sean, North Carolina

Sean: The costs of raising a child can vary greatly based on the choices you make so this is not a case where one budget fits all. Keep in mind that becoming parents usually means changes in the lifestyles of both parents. If you think about it, people who don’t have children waste a lot of money filling time and avoiding boredom. Rest assured: you’ll have no problem filling your schedules once the baby arrives.

This is a guest post from Anna Nguyen, Marketing Specialist and soon-to-be bride.

With all of the details to mull over like what your wedding colors will be, which flowers to choose, or where you will find your dream dress, how much a wedding will cost may be the last thing on your mind as a bride-to-be. The fact is that the cost of the wedding is something you simply cannot avoid. According to theknot.com, couples are spending an average of nearly $28,000 to walk down the aisle!

To avoid a post marital financial crisis, consider the following tips while planning your big day:

Create a wedding budget (and stick to it!). Creating a reasonable wedding budget is one of the first things you need to do when you begin planning. Once you establish who will be contributing and how much you can afford, you can base your decisions on that amount. Wedding sites like theknot.com have budget calculators that can help you figure out how much to spend on each category based on the number of guests expected and your budget.

Book your vendors as early as possible. Early planning will allow you to research and compare prices of any vendors you may want to use. It will be more likely for you to be able to reserve the date you want for all vendors and avoid having to pay more or be less happy with any alternative choices. Keep in mind that a Saturday night will be the most expensive time to have your wedding.

Hunt for discounts. Great deals can be found through joining the mailing list at various wedding sites or at bridal shows where vendors offer specials to attendees. Also, bridal boutiques frequently hold sample sales where you can choose the designer dress of your dreams for a significantly reduced price. Or if it’s in your budget, a good wedding coordinator can provide references to many vendors who will be willing to give you a discount based on your relationship with the coordinator.

Do-it-yourself. When it comes to the details of your wedding, such as invitations, favors, or even flowers, consider doing it yourself. Printing your own invitations has become more acceptable and you can find all kinds of ideas online. As for favors, consider not having any or donate to a charity of your choice in honor of your guests. If you need inspiration, here are a few of my favorite sources: snippetandink.blogspot.com, swsmag.net/blog, and beautifulpaper.typepad.com.

It’s hard to not let the excitement of a wedding get the best of you, but you don’t want to spend your days as newlyweds worrying about the debt you built up to pay for your wedding. It’s also important not to forget that the purpose of a wedding is to celebrate the start of a marriage and although your wedding is in fact a very special and important event, it will only be one day in the life span of your entire relationship.