How to Manage Young Family Finance
The baby is still the desire of majority married couples. The presence of the child, in fact, is considered a marker of the perfection of a household. Unfortunately, young families often forget that the presence of children means more financial responsibility to be prepared, from the fulfillment of primary needs to future educational needs.
If young families do not have financial awareness, it is not impossible precisely the needs of children become neglected. You certainly do not want this to happen to the baby is not it? Therefore, when the first child begins to attend a young family, they must view the balance sheet.
Financial planners from Taatadana Consulting Felicia Imansyah say, the beginning of marriage is an important period of development of the foundation of family finances for the future. Because, the longer the family needs will be more complex with the increase of children, age, and the necessities of life. "Therefore, young families should be frugal and careful since the beginning of the family," said the woman who is usually called Lici.
Financial planner from Fin-Ally Financial Planning and Consulting Pandji Harsanto corrects the bad habits that young families make when they get their first child, which is buying the need for the baby excessively. Call it, buy clothes and baby supplies to accumulate. In fact, the growth period is quite rapid at the age of under five years (toddlers) causing clothing will not be used in a long time.
Suggestion Banner, should the family buy baby needs just enough. "If you can loan stroller from brother for example, no need to be ashamed to wear it. Or, can rent just baby equipment, "said Pandji. The mistake made by the young family is common because it is so happy to get a baby.
Important posts
Instead of wasting money for temporary purposes, financial planners advise families to immediately equip outposts related to the child's interests. Well, here are some posts that should be immediately allocated:
Added emergency funds
Before widening the wings by purchasing protection or investing, families are required to have emergency funds. This emergency fund is intended for cash reserves if at any time the source of income is disrupted.
Financial planners say when young families have no children, emergency funds can be reserved three to six times the total monthly spending. So, such as monthly expenditure of Rp 7 million, the emergency fund must be collected Rp 21 million - Rp 42 million.
However, when the baby begins to supplement your family's life, the emergency fund must be injected into six to nine more times. Still with the same example, the monthly expenditure of Rp 7 million, then the emergency fund to be met is Rp 42 million - Rp 63 million.
Banners understand the fulfillment of an emergency fund of nine times will not be easy for all young families. His solution, at the beginning can be collected 30% of the nine times the emergency fund first. Or, if he continues his example over, the emergency fund must be met at the beginning of Rp 18.9 million.
Well, while walking, young families can meet the recommended portion. With a 30% capital of emergency funds already met, young families can step on the next post, which is buying life insurance.
Note Lici, the emergency fund should be liquid aka easy to disburse. Therefore, he suggested the funds placed in savings, deposits, precious metals, or money market mutual funds.
If young families do not have financial awareness, it is not impossible precisely the needs of children become neglected. You certainly do not want this to happen to the baby is not it? Therefore, when the first child begins to attend a young family, they must view the balance sheet.
Financial planners from Taatadana Consulting Felicia Imansyah say, the beginning of marriage is an important period of development of the foundation of family finances for the future. Because, the longer the family needs will be more complex with the increase of children, age, and the necessities of life. "Therefore, young families should be frugal and careful since the beginning of the family," said the woman who is usually called Lici.
Financial planner from Fin-Ally Financial Planning and Consulting Pandji Harsanto corrects the bad habits that young families make when they get their first child, which is buying the need for the baby excessively. Call it, buy clothes and baby supplies to accumulate. In fact, the growth period is quite rapid at the age of under five years (toddlers) causing clothing will not be used in a long time.
Suggestion Banner, should the family buy baby needs just enough. "If you can loan stroller from brother for example, no need to be ashamed to wear it. Or, can rent just baby equipment, "said Pandji. The mistake made by the young family is common because it is so happy to get a baby.
Important posts
Instead of wasting money for temporary purposes, financial planners advise families to immediately equip outposts related to the child's interests. Well, here are some posts that should be immediately allocated:
Added emergency funds
Before widening the wings by purchasing protection or investing, families are required to have emergency funds. This emergency fund is intended for cash reserves if at any time the source of income is disrupted.
Financial planners say when young families have no children, emergency funds can be reserved three to six times the total monthly spending. So, such as monthly expenditure of Rp 7 million, the emergency fund must be collected Rp 21 million - Rp 42 million.
However, when the baby begins to supplement your family's life, the emergency fund must be injected into six to nine more times. Still with the same example, the monthly expenditure of Rp 7 million, then the emergency fund to be met is Rp 42 million - Rp 63 million.
Banners understand the fulfillment of an emergency fund of nine times will not be easy for all young families. His solution, at the beginning can be collected 30% of the nine times the emergency fund first. Or, if he continues his example over, the emergency fund must be met at the beginning of Rp 18.9 million.
Well, while walking, young families can meet the recommended portion. With a 30% capital of emergency funds already met, young families can step on the next post, which is buying life insurance.
Note Lici, the emergency fund should be liquid aka easy to disburse. Therefore, he suggested the funds placed in savings, deposits, precious metals, or money market mutual funds.
