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How To Determine Your Insurance Premium

A study at HARVARD says 78% of people in the world are falling poor, because of health costs / hospital costs are HIGH. Protect yourself and your family for a better future !!.

There is no standard count in determining the insurance premium of a prospective customer, the following way you may already know from the insurance agent who came to you the last 1 week. However, it never hurts to share with you.

Ideally, your family's insurance premium is between 15-20% of your income and wife (if both work). To facilitate you, sy give the following example:

Husband's insurance (5 jt / month salary)

If in a year then 5 jt x 12 bln = 60 jt then the premium min. 15% is 9 jt / yr or 750 rb / bln and max. 20% 12 jt / yr or 1 jt / month.

Wife insurance (salary 3 jt / month)

3 jt x 12 bln = 36 jt, then premium min. 15% of 5.4 jt / yr or 450 rb / bln, and max. 20% 7.2 jt / yr or 600 rb / month.

So if in join, your family's ideal insurance needs are between 1.2 jt - 1.6 jt per month.

How easy is not it?

Saving With The Right Way
Hearing the word "saving", many people automatically associate it with a frugal lifestyle. Lately even the word save and save even sometimes negative connotations because it tends to seem stingy against everything. But saving is not just a life saver.

It's so much more than just spending less money. So let's try a new perspective: saving is the way we 'pay ourselves' in the future by setting aside some of our income today. Saving is no longer a piggy bank that is only filled with money from the remnants of spending or accounts with a balance up and down because there is an ATM that allows us to withdraw funds at any time.

Ideally, saving becomes the main focus. Do not wait for the rest of the income to be put in, because in the future we will definitely need the funds we set aside today.

In fact, it's often easier to say than done. There are so many saving challenges, including determining how much we have to save, whether the right product to use, and how to ensure the money we have set aside we do not sabotage in the future.

So, how is the right way to start setting up realistic financial goals and optimizing the money we have? Here are the steps:
1. Sort your debts
How much of your monthly income is used to pay the debt? It can make you realize that paying off debt is the simplest way you can save more. In some people, the ratio of debt to income is inversely proportional to the ratio of saving to income. In short, the bigger the debt repayments, the less money saved for later needs.

So write down all your debts and separate productive debt such as mortgages, KPM, KPA, and accounts payable, with non-earning debt such as credit card installments. As far as possible, pay off your credit card debt. Realize that you are learning to save for the future and you can save more if you do not have to pay off various debt installments and interest.

2. Build an emergency fund
The only reason you can postpone your debt repayment is to build your emergency fund. The amount of this fund ranges between 4 - 12 times your expenses per month. Calculate your needs and start saving to achieve them. Building an emergency fund can be your initial exercise to get used to saving with discipline.


3. "What's your purpose?"
... is the question that trademark Ligwina Hananto, CEO of QM Financial, to illustrate that saving needs goals. In addition to helping you determine the appropriate product, it is this purpose that will limit yourself when you are tempted to sabotage the funds you have saved.

If you sabotage the pension fund, then you will not be able to maintain your lifestyle now when it is retired later. If you sabotage a vacation fund, then you can only bite your fingers when your friends are busy updating their holiday photos on Facebook. If you sabotage the cash advance, then you will stay with your parents or in-laws, and so on.

Then determine your financial goals and do not forget to determine the realistic time period needed to achieve that goal so you focus and get the spirit to achieve it.

For short term goals, this is easy to do because you only need to look for the numbers and save regularly to achieve them. For long-term goals such as pension funds or college tuition, you need to take into account the inflation factor into your calculations. It's a good idea to learn about investment products so that your managed funds can be managed optimally.

4. A journey of a thousand miles begins with a single step
Now is always a good time to start saving. If you do not start immediately, pensions, vacation funds, education funds, and funds for other financial purposes will not accumulate by itself. Realize that to achieve the financial freedom you've been dreaming for, there's a long process to go through.


Do not be too stressed think if you fail to save this month. Just mean that you will be better on your next payday.

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