Cradling the baby is still a desire of the majority of the couple are married. The presence of a child, in fact, considered a marker of a household perfection. Unfortunately, young families often forget that the presence of children means no more financial responsibility to be prepared, ranging from primary to the fulfillment of educational needs in the future.
If young families do not have the financial awareness, not just the needs of the child may not be neglected. You certainly do not want this to impinge on the baby instead? Therefore, when a child first began to attend in young families, they must consider the balance sheet.
Consulting a financial planner from Taatadana Imansyah Felicia said, early marriage is an important period of development of the family's financial foundation for the future. Therefore, the longer the family's needs will become more complex with increasing child, age, and the necessities of life. "Therefore, should a young family and frugal family since the beginning," said the woman who is usually called Lici this.
Financial planners from Fin-Ally Financial Planning and Consulting banner Harsanto correcting bad habits that young families do when getting the first child, the purchase requirement for the baby excessively. Call it, buy clothes and baby gear to accumulate. In fact, a fairly rapid period of growth in under five years of age (toddlers) will not cause the clothing worn in a long time.
Advice banner, the family should buy for the baby moderation. "If the stroller of your loan can be for example, do not be ashamed to wear it. Or, it could just rent baby equipment, "says the banner. Errors were committed by young families are common due to excitement to get a baby.
Key posts
Instead of wasting money for temporary purposes, financial planners recommend that families complete the immediate needs of the posts related to the interests of the child. Well, here are some posts that should be allocated:
Adding emergency fund
Prior to expand or invest by buying protection, families are required to have an emergency fund. This emergency fund aims to cash reserves at any time if the source of income is interrupted.
Financial planners say when young families have not had children, emergency funds can be reserved three to six times the total monthly expenditure. Thus, monthly expenses such as Rp 7 million emergency fund should be raised USD 21 million - USD 42 million.
However, when the baby started to complement your family life, an emergency fund should be injected more into six to nine times. Still with the same example, the monthly expenditure of Rp 7 million, then the emergency funds that must be met is USD 42 million - USD 63 million.
Excuse compliance banner nine times of emergency funds will not be easy for all the young families. Solutions him, at the outset can be collected 30% of the nine-time emergency fund first. Or, if he continue the example above, an emergency fund should be met at the beginning of Rp 18.9 million.
Well, as you go along, young families can meet the recommended servings. With a capital of 30% of the emergency fund has been fulfilled only, young families can step on the next post, which buy life insurance.
Note Lici, an emergency fund should be liquid, liquid alias. Therefore, how to set family finances suggest the funds placed in savings, deposits, precious metals, or money market mutual funds.
Buying life insurance
When it began to have children, the family should buy life insurance. Life insurance is intended to protect the financial risk of the breadwinner in the family. With hope, if anything happens that causes earner income sources jams, no insurance can replace that function.
Insurance money could be used to meet the needs of the child's life into adulthood. Advice Lici, families must calculate the correct projected needs of children to adults. The amount of the sum assured (UP) the desired affect how much premium should be allocated. Therefore, large-small, this premium would erode the family monthly income.
If the husband and wife working condition, if necessary each purchase life insurance? Financial planners of Fahima Advisory Arsiyanti Fauziah said, depending on the functions of each salary. When the husband and wife salary be the principal source of fulfilling the needs of the family, each is required to purchase life insurance. Conversely, if one does not support the salary of the family income significantly, owners salary should not buy life insurance.
Banner add, even could be, both husband and wife, do not buy life insurance. With notes, "During the economic wheels turning, there is passive income from asset holdings are much larger than the monthly salary," said the banner.
In addition to life insurance, other insurance that must be added is health insurance for the baby. Average insurance companies require a minimum age of participation is 30 days of health insurance. Instead, since the age of the child to buy health insurance. Advice financial planners, families can buy a collection of health insurance. By doing so, the premiums paid can be a mini.
investment education
Not just child's clothing or food that suck huge funds, but also educational. Financial planners suggest, since the child is present in your life, should be contrived post education fund. Lici say, investment in education can be divided based on levels of education, such as the level of play group, kindergarten, elementary, junior high, high school, and college.
The selection of the investment basket can be adjusted to the level of education. The further education course that will be addressed basket of investment choices can be more aggressive with the hope of greater returns. Choice of investment products, such as precious metals for the short-term, medium-term mutual funds for the mixture, and mutual fund shares for long term investment.
If a young family it difficult to meet all levels of educational investment at the same time, the family can repay the investment of education furthest first post. For example, from investing for college education and then continuing up to the nearest education. "For funds investing in education is precisely the smallest farthest," said the banner.
Tightening the belt
The addition of the three expenditure items are to be reserved will certainly swell the family expenses. If you are still a source of income, meaning that there must be a strategy that must be done. With the goal, all post basic needs are met but not interrupted.
Banner offers three solutions. First, to reduce spending. For example, when no children, you and your spouse have dinner at a restaurant hobby or recreation, this habit can be reduced. Look back expenses, such as phone usage postpaid or entertainment needs, such as pay-TV subscription.
Second, lowering the consumption class. Put the word, you and your spouse originally everywhere almost always drive cars, but motorcycles have also. Well, what's wrong with the habit of replacing more often riding a motorcycle alone?
Third, eliminating the need. If both ways previously not also suppresses effectual, it looks like you and your partner must be willing to eliminate some of the need. For example, you originally hobby of collecting something that is draining money, now, it can be removed. This decision requires sincerity. Like the saying goes, Berakit-raft upstream, swim to shore. Concerned in advance, prosper and then
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