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Buy life insurance - There are various reasons why you should plan your future finances from now on. The higher the need for life, such as the cost of children's education, the need for old age, to leave a legacy of property when you die someday. All the financial needs in the future can be overcome if you have been able to manage finances well from now on.
Confused to Manage Finance Buy Only Life Insurance

In managing family finances, you can use the financial planning formula. ÊAccording to Prita H. Ghozie, family finance planner of Zap Finance, you should set up expenditure items from the monthly salary as follows:

- Zakat, infak, alms = 5%
- Emergency fund and insurance premium = 10%
- Monthly routine fee = 50%
- Savings for needs within a year = 10%
- Investment for medium and long term needs = 15%
- Cost of entertainment and lifestyle = 10%

According to Prita, if you intend to take mortgage or vehicle installments, the budget should be used no more than 30% of your salary. For this, you are forced to reduce the budget for entertainment, lifestyle, or short-term savings.

1. Manage with Life Insurance
Allocating around 10% of the monthly salary to pay insurance premiums is a very appropriate step. Purchasing health insurance means you've shifted healthcare costs that could have suddenly swelled. If you have insurance, payment of healthcare costs can be lighter.

While life insurance can be used as a financial budget allocation in the future. Maybe not you who enjoy but your children and grandchild who will get many benefits.

Therefore there are various reasons why by buying life insurance you can manage the finances in the future.

2. Discipline Manage Money
When purchasing life insurance, you have an obligation to provide funds in accordance with the agreed premium agreement. Premiums must be paid monthly or annually. With this obligation, you inevitably have to set aside a part of the monthly income to pay the premium.Ê

This condition should make you more disciplined. Because if the premium is not paid, you may not be able to receive maximum benefits from life insurance.

3. Plan for the Future
Children and families are the ones who will most benefit from the life insurance you have. Because in principle, life insurance is a financial protection from the insured (the policyholder) for the recipient or the family left behind when the insured dies or a total disability that can no longer make a living for his family.

The regular premium you pay every month or every year, will eventually be used to continue your child's education or to meet the family's needs when you leave.

With these various reasons, managing the finances will be easier especially if you are not the type of person who likes to save or invest.

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