Tue, 05 Feb 2013 13:45:00 GMT | By Jody Robbins, MSN Money
10 worst financial mistakes new parents make

From not investing in RESPs to buying too much baby gear, these money mistakes can quickly empty your wallet.



Enjoy the ride but don’t get carried away. (© iStock)
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Parents always make mistakes (just think of all the blunders your parents committed). With the new responsibility of child care comes new expenses, making it easy for newly minted parents to get stung. Steering clear of these costly mistakes won’t deprive your kids, and they’re sure to appreciate a larger inheritance.

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How many credit cards should one person have?

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  1. 73 %
    Just one. Credit cards should only be used for emergency situations.
    13,306 votes
  2.  
    16 %
    As many as you can. Credit cards are a great way to make purchases and get great rewards.
    2,967 votes
  3.  
    11 %
    None. You should never buy anything on credit.
    2,006 votes

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