Starting a family can be one of life's great joys — the anticipation of welcoming a new family member, the bliss of holding your baby in your arms, and the ongoing journey of fun and bonding. But as any new parent will attest, starting a family can be an exciting but also a challenging journey. Like most major life changes, if you don't prepare for it, what you believe would bring more happiness might end up becoming something overwhelming and stressful.
While every individual's journey is different, most people would benefit from preparing — mentally, emotionally and financially — for this major step in their lives. Here are five tips to give yourself a good start to starting a family:
1. TEAM WORK MAKES THE DREAM WORK
The first ingredient to getting off to a good start is to see yourself as a team. Your partner should be your biggest ally, cheerleader and supporter, and any time you are undertaking a challenge, make it a team effort. Take any challenge that comes up as an opportunity to work together. The better your team work is, the more starting a family will feel like a joyful project. Consider creating a task list or even using platforms like Trello to organise the tasks between you.
2. BUILD YOUR SUPPORT SYSTEM
When starting a family, don't neglect the importance of having a solid support system. It can be far too easy to check out of the outside world and focus on what is right in front of you — but often the best solution can be the opposite. Reach out to your family or even a close friend for emotional support, to learn from, or even as a wonderful distraction when you need it most.
3. PLAN FOR THE UNEXPECTED
When it comes to parenting (and life in general), it's inevitable that the unexpected can happen (and probably will happen). So why not plan for a rainy day? It’ll help you rest a lot easier. Insurance is a big part of this. Whether it’s your children’s insurance to protect their health, or your own insurance protect your health, your home, or your income, being well-covered gives you assurance that your family will be taken care of, no matter what happens in life.
4. FIGURE OUT THE FINANCES
With long-term expenses on the horizon, handling your finances as you start a family can be a huge challenge. Speak to other young parents or do your research to get an estimate of the costs in raising a child in the short and long term. Another important way to plan is to boost your emergency savings; start setting aside a part of your salary each month so you have a cushion for unexpected expenses. Another good option is to speak to an expert. A financial advisor can help you plan and simplify your financial journey.
5. HAVE FUN
Last, but certainly not least: enjoy the journey! Appreciate the ups and downs, the inevitable missteps, the sleepless nights but also the surprises and fulfilment of nurturing a new life. It’s going to be an absolutely hectic time in your life, but it’ll be gone before you know it. So remember to savour it, laugh through some of the tough times, and soak in the good ones.
Certainly, there are many more things to consider when it comes to starting your family. Why not make planning for a family easier by speaking to an AIA Philippines Financial Advisor like myself about your needs and concerns?
If you have any thoughts, concerns, suggestions, questions or tips to share let’s talk. Fill in the form below and let's schedule a quick chat!
