By the time you start a family, then you certainly want to start everything planned and with clear objectives as well, including in financial matters.
For the newly married couple and have not had children, it will be easier to prepare a wide variety of financial plans which will be conducted in the family’s newly built.
It is intended to maximize the income of both partners on some investments that are expected to ensure the family’s financial future.
A young age and do not have a dependent child can certainly make as the right moment to put some funds into different investment instruments and the partner of your choice.
If you do this from the beginning, it will be easier to cope with a wide range of financial problems that might be hit families in the future.
You certainly do not want your family to experience a number of complex financial problems just because you do not wise in investing since the early days of marriage.
This will bring the risk of prolonged financial problems and affect the quality of life for you and your family in the future.
Basically how to manage your finances is not only limited to the problem or how to allocate money, income or expenses only.
But the most important thing you can do is how you can invest the money well.
In this case the investment is not just the activity of saving and save money, but investing is a way to do the calculation and allocation of funds that have a value of more profitable in the future.
There are many types of investments that can be selected, for example: investment in property, gold investments, money market investment products, investment insurance and various other types of investments.
Here are four easy ways that you can use to start investing:
1. Consider Personal Financial Condition
Find out the readiness and ability of your family to make an investment. If you already have the financial capacity to invest, then you should do so on the types of investments that have a low risk.
There are many types of investments that you can make a choice, such as gold and mutual fund products that you can customize in a variety of options, among others: Money Market Mutual Funds, Fixed Income Fund, Balanced Fund, and Mutual Fund Shares.
Especially for the mutual fund, you are strongly advised to do so at a securities company or bank that is reliable and has a good credibility.
Types of investments above have low risk and quite practical. This becomes an important point for you, because there are many cases where a few couples allocated a large amount of their income in a risky investment instruments.
It would be very risky and you can imagine what if an investment when you do not run smoothly and deviated from the initial prediction is not it?
2. Identify the Family Financial Condition
It is important to make sure your family has had a number of positive cash flow each month. If it turns out that there is no, then you should immediately evaluate and find the cause.
There are many factors that can cause this to happen, where the lifestyle you and your partner may have the most influence in this regard.
Perform a series of austerity measures and try to improve the cash flow in your household.
3. Calculate the amount of debt
Record and perform calculations on all the debt you have as a couple, it includes all sorts of regular installments that must be paid each month, such as: mortgage, car payments or motorcycle, credit card repayments, and others.
After conducting data collection and calculation, then you can see the amount of debt you have and automatically you can judge whether the number is still within the safe limits.
A safe amount of their installments for finance is 35 percent of monthly income. If you find that the amount of mortgage you have exceeded this amount, then do all sorts of ways to reduce the amount of your mortgage.
4. Know the investment instruments
Avoid rush in determining the type of investment that you will use, it is very risky to make a number of financial damages that you have.
Find Out More
Find complete information on investment instruments and recognized one by one with the good, until you have confidence in the type of investment that you will use. You can ask those who are experts and have some knowledge in this regard.