---
title: 'WATCH: Tips from the Pros: Best Money Advice for Young Parents'
description: A financial planner shares his one financial tip for young parents.
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published: '2014-06-04T06:11:29.000Z'
modified: '2020-07-07T10:29:15.000Z'
section: Personal Finance
tags:
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word_count: 104
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> **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/).

![Pile of money](https://img.money.com/2014/06/140601_money_gen_13.jpg?crop=0px%2C733px%2C4780px%2C2689px&quality=85)

*In this series of* [Tips from the Pros](https://money.com/topic/tips-from-the-pros/), *Money taps the collective wisdom of expert financial planners.*

If you are a young parent and have kids, you need to make a will. A will does not just delegate where your assets will go; it allows you to decide what will happen to your children should you die. David Mendels says that most young parents neglect to make up a will, but that they should because deciding now where their children will go in the event of their death is preferable to having a court decide for them.

Featured Advisers:

David Mendels [Creative Financial Concepts](https://www.linkedin.com/in/david-mendels-cfp-8494102)

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