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We often hear the principle of “Pay yourself first” (Pay yourself first). This is an excellent prnsip for us. Families who are ready financially; a happier family. Where is a good amount to save at least 10-20%. As we know where the inflation rate of 10%, while the rise in average earnings only reach 6-8% per year.
There are several reasons you should know why it is necessary to save before you into debt in the future.
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Emergency fund is a fund that is prepared to anticipate emergencies that occur as a house fire, accident, etc. Ideally a family are required to have an emergency fund of 5-6 x earnings. For example with an income of Rp 5 million / month, a family is required to have an emergency fund amounting to 25-30 million. This means that in case of an emergency, the family has a fund that can cover for six months, these funds are special.
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The health fund shall be owned by individuals and families, we need to realize that many families are experiencing financial problems when a critically ill family member. For example, the cost of cancer to reach Rp 100 million / month, a heart operation costs reached USD 150 million. Especially for the health funds should the family have insurance, because by saving a little money, then get huge benefits.
Preparing the old days
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Too many people do not realize the importance of setting up a pension fund, retirement course, we do not make money while growing needs. Facts say many parents rely on their children when entering retirement.
Because the pension fund of a company can only cover the next 3-10 years. As an example of pension obtained from the company amounting to Rp 200 million. Regular monthly expenses of $ 4 million, the pension earned money is only sufficient for 50 months or as long as 4 years.
Children Education Fund
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Often parents tell their children that they study hard and become smarter, emphasized that children excel. Once a child enters college, parents are not able to give a lecture at its best, as a result the child will be disappointed.
The increase in children’s education fund reaches 20-30% / year, you can calculate how much it cost your children’s education fund for the next few years. You need to be aware that tuition increases above the increase in average earnings of employees, as a result, many parents are not able to follow the tuition increases.
Currently the world is growing, in which human competition in finding a job is getting tougher, more and more college graduates, the possibility of 10 years, children can reach the standard of education graduates s2. It is important to realize the parents early on.
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You may not think about it, but parents will age and need financial encouragement from her son. Getting older, so by itself, you are required to help those families.
Thus the discussion about why we have to save money, we need to realize is no matter how much your income, if you do not cultivate saving or investing early, you will experience financial problems, the effect is disharmony your partner.
Please visit the Smart Account articles that can help your finances.
Salam sound financial
Please read the article that you think is important for your family below
Importance of life insurance for the family
The importance of children’s education insurance
Importance of pension insurance for the family
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