7 Tips for Maintaining Financial Security for Women Who Are No Longer Working

  A woman's responsibilities change drastically after marriage and having children. In addition to taking care of herself, she also has to take care of her husband, children, and the whole house to be neatly arranged. Doing it is certainly more difficult when working, that's why some women decide to focus on being housewives.

From a financial point of view, this decision clearly reduces the amount of family income. However, this can be anticipated by doing a number of tips for preparing financially before marriage. Some of them are as follows.

7 Tips to Maintain Financial Security When Not Working

1. Recalculate Income

Considering that your family income will decrease when you are not working, you should recalculate it. Calculate the salary that the husband gets, and then imagine what needs to be financed for one month to ensure that the salary is enough. Otherwise, the process of meeting the needs of the family becomes disrupted.

Luckily, the husband's salary is sufficient. If it's mediocre or lacking, you should find a job that can be done from home to increase income.

While working, it can be while taking care of children, husbands, and houses as well. In essence, it must be flexible because the responsibilities carried out today are heavier than when they were single in the past.

2. Create a New Budget

If in point number one you only imagine expenses, now is the time to write down these expenses. Start from routine costs that will definitely occur in one month, such as electricity, internet, water, insurance, meals, to installments if there are any.

Make a detailed budget, but don't be mediocre. In a sense, allocate larger funds in anticipation of higher costs than the previous month.

This budget is intended as a guideline when shopping, so the name overbudget can be minimized. The budget also helps you calculate the remaining salary, so that the rest know where to go. Is it savings, investments, or both?

3. Salary Tube During Maternity Leave

For women who are about to give birth, you are entitled to three months of leave and be paid in full. We recommend that the income tube during maternity leave is for financial preparation. Because in the next month, you are no longer working and get income anymore.

You only expect income from the husband. So, try to wisely allocate leave salaries for financial good.

If possible, try to allocate 100% of the salary to a savings or emergency fund account. Calculate for the initial capital to open a deposit, right?

4. Invest Money for Additional Income

In order to remain financially stable even though it is no longer working, start investing money since you are single. It doesn't need much, just 20% to 30% of the total salary per month. If it is done regularly, then the total investment may be mountainous in a few years later.

Apart from being a provision to welcome the future, there are a number of advantages when investing. Profits can be used as an additional source of income every month and can be taken if urgent.

Some investment products that can be tried are deposits and mutual funds. Both are known for their low risk.

5. Prepare an Emergency Fund

In reality, many things often happen unexpectedly. Starting from families who fell ill, suddenly affected by disasters, and others that actually cost money. To anticipate the costs, you should prepare an emergency fund with a percentage of 10% to 15% of salary every month.

Let's assume that the salary received is IDR 6 million per month and 10% is allocated to an emergency fund. For only 5 years, the emergency fund collected has been not bad, namely IDR 36 million.

When you stop working, then these funds can no longer be allocated. It is better to collect from now as a financial provision in the next few years.

6. Avoid Impulsive Shopping

For those who like to shop impulsively, as much as possible reduce or eliminate this habit from within you. Because, the situation and conditions are already different. you are no longer a single who can casually buy anything without thinking.

Automatic income is zero when deciding not to work after childbirth. Relying on the husband's money is certainly not good if the purpose is to spend impulsively. It's different if you shop for family needs, especially children.

Try to comply with the budget that has been made before. Thus, the family's financial condition remains safely under control even though you are no longer working.

7. Prepare a Children's Education Fund

While the children are still young, you should prepare the education funds from now on. Equip the child with education insurance from a trust insurance company.

This is important given the ever-increasing cost of education every year. Do not because you are not aware, the child becomes out of school or drops out of school later.

The preparation of education funds definitely reduces the financial burden when children grow up. At least you and your husband just need to prepare for the lack of cost, not prepare it from scratch.