Financial Governance after Baby Born

Jul 10 2009

Posted by admin as Finance

It is important to manage your money especially when your baby is born. Extra costs would inevitably so that a husband and a wife must have a strategy in accordance with a management of finance family.

It can’t be hide the delights to see that a baby is already present in the midst of family. Many things have been prepared including mentality, physically and in terms of financial must be ready. All the things needed must be prepared carefully.

In fact, the presence of a baby as a new member in the family must increase our spending money. We have to buy toiletries baby, diapers, immunizations, clothing, counseling and other physicians. If the budget expenditure is not properly prepared, it can disrupt the cash flow of our daily routine. Of course, this situation could make our finance family will be chaotic in the first year.

Uniting income

Certainly there are differences in financial management while not married and after marriage (especially with a baby). There are tips from financial planning expert, Dr. Adler Haymans Manurung, who is also Director of Investment Management on one of the company’s securities. According to Adler, if you have children, the amount of spending increases, so, inevitably, about 60-70% of the revenue is used for routine monthly expenses.

Adler suggested, although the amount of spending increases you would probably try as much as you can to save your money. “It was 30-40% of the revenues must be set aside for savings. This requires discipline and consistent husband and wife, “explained Adler. This applies equally to husband and wife with a single income, which is only one of the parties who received the income. “Stay consistent and disciplined financial management. Do not bother saving money, “said Adler.

Expenditure increased

When the baby comes in the midst of our life, in addition to consistent and disciplined, husband and wife must increasingly manage their finances carefully. “The presence of a baby, resulted in spending quite striking change, especially when children under the age of 1 year because it takes a lot of money for shopping, like buying milk, diapers, clothes and so forth.” Thankful when his wife could give exclusive mother’s milk on her beloved baby, so mom and dad can be ‘liberated’ from routine expenditures to buy a few cans of formula milk for babies in a month.

Quite often these young parents spent a considerable expenditure in the month to buy baby formula, “added Adler. Surely this bloated spending that can be suppressed in various ways.

Here are tips pressing routine expenses after the baby is born:

Sell affordable

“Adjust the needs of children with a parent’s financial ability. For example, parents can carefully choose the formula and affordable with the nutrients that as well as with high-priced infant formula. You must be smart sorting expenses, “said Adler.

Sure there is provision

Also Adler added that the young parents must have confidence about the provision they receive. “No needs to fear you run out of money because there is a baby. Believe that God always gives sustenance. It is depends on how you divide expenses and stay consistently with the financial management of this family, “said Adler.