Give an example of a decision that might not be considered a financial decision but will have a major impact on your financial situation

What will be an ideal response?

Answer: The decision to have a child will have a major impact on your financial situation. Although finances aren't considered the primary factor determining when to have children, the timing certainly has enormous financial implications, causing significant changes in housing, child care, and education costs. Considering that childrearing can cost $9,683 to $22,210 per child per year, saving to finance that child's college education might pose as a real challenge.