Baby, Budgets, and Buying a House

This episode’s guests Amanda and Gavin are working professionals with their first baby on the way. The couple know how to stick to a budget, but that’s where their financial smarts come to a screeching halt.A new baby brings joy and excitement but also uncertainty and change. But Amanda and Gavin aren’t sure how to plan for new expenses like childcare costs. Can they manage three people and working from home in their two-bedroom apartment? Can they afford to buy a house or will it leave them stretched too thin?In this episode of What Should I Do With My Money?, listen in as Eric, a Financial Advisor at Morgan Stanley, offers a framework to plan for the future and helps the couple figure out what to expect – about money – when they’re expecting.For more information about this episode and the topics covered, check out our episode page https://www.morganstanley.com/ideas/planning-for-a-baby-financially-what-should-i-do-with-my-money-podcast.The conversation in this podcast is solely intended as a case study between a client/prospective client with a Financial Advisor and is not intended to serve as individualized investment or financial advice. No portion should be construed as a recommendation to employ any of the guidance contained within this podcast. Each investor has their own unique facts and circumstances and must determine what is appropriate for their own situation. Participants in this podcast are not compensated and are not affiliated with Morgan Stanley. Here's some important information about your relationship with your financial advisor and Morgan Stanley Smith Barney LLC when using a financial planning tool. When your financial advisor prepares a financial plan, they will be acting in an investment advisory capacity with respect to the delivery of your financial plan. To understand the difference between brokerage and advisory relationships, you should consult your financial advisor or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at morganstanley.com/mymoney. You have sole responsibility for making all investment decisions with respect to your implementation of a financial plan. You may implement the financial plan at Morgan Stanley Smith Barney LLC, or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it in writing to act as your investment advisor on any particular account. Morgan Stanley Smith Barney LLC, its affiliates, and Morgan Stanley financial advisors or private wealth advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.This material has been prepared for educational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Morgan Stanley Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY©2025 Morgan Stanley Smith Barney LLC. Member SIPC.    CRC 5012554                     12/2025