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Prepare These 6 Funds Before Having a Child

2 years ago | 2 years ago | afrex

After marriage, the desire to have children must be felt by the couple. In addition to preparing to become a parent, you should not forget also to manage finances.

Prepare These 6 Funds Before Having a Child

Here are some things you need to prepare.


Create an emergency fund for children
No one knows what happened to you and your partner later, after having a child. However, you and your partner need to talk about who will take care of your child, including his finances, when something happens. Choose the right and trustworthy parent guardian - can be from your siblings - to help with all the finances you prepare.

Prepare These 6 Funds Before Having a Child

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Make a note of income with your partner
Before having children, invite your partner to both write all the income.Your partner salary, your salary, other income(which may result from small business). After that, make sure you immediately separate the savings for the child's needs later.

Prepare These 6 Funds Before Having a Child

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Create life insurance for children
In addition, you also need to create life insurance for your child. So, there is a guarantee for your child.

Prepare These 6 Funds Before Having a Child

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Prepare a health fund
Especially for you and your spouse, health fund or health insurance is very important to have. If one day anything happens to you or your spouse, you already have financial security for treatment.

Prepare These 6 Funds Before Having a Child

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Prepare funds for child care
When you and your partner are both working, of course you need to set up funds to hire a babysitter or bring it to daycare. You need to prepare a monthly fee for childcare, including household expenses. Create in detail so your budget can cover all your needs.

Prepare These 6 Funds Before Having a Child

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Prepare funds for the school
Yes, if you have children, the other thing you should think about is school fees. Every year, tuition will continue to rise. So you need to think carefully for your child's education savings.

Prepare These 6 Funds Before Having a Child

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Make sure you and your partner are always open and honest when talking about finances so that the funds you have prepared for the child can be met together. It's a team work!

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