Who doesn’t want to have financial security?
Retirement. Savings. Investments. Emergency Funds. These topics are not very appealing when you are single. Why would they think about retirement when you are more keen on finding your knight in shining armor?
Emergency funds, for what? When your gel nail extension is broken or when you run out of your face powder, that is emergency.
It feels good to splurge to your favorite clothing line like Mango and Forever21. Not only that, there’s bags and shoes too. Few pair of shoes for office, few sets for casual wear, selected pairs for special occasions, and so on.
But when you have a family, a child to raise, financial security becomes vital.
Like for my case, I started to think about our finances after I gave birth to my son, ZJ. Thoughts like – funds for his college education, what if something happens to my hubby or to me– start to bother me. Though I have been investing in mutual funds and stocks when I was single, I was not really that committed.
Nowadays I see to it that certain amount goes to our emergency fund, to mutual fund allocated for my son’s education and our retirement fund account. And there’s more – the regular SSS contributions, health insurance, life insurance and mortgage.
It is really a long list for me. I have a lengthy checklist which I go through every month to make sure I don’t forget any dues.
Anyway, I enjoy checking our investment portfolio though it’s not that much yet but somehow we are on the right track. Well, that’s what I want to believe even though the pace is a bit slow but on the right path.
But my financial journey is not always smooth as it seems. I have setbacks too. It is like there’s always a big demon inside me that I need to conquer.
The demon to resist shopping when there is 70% sale in H&M or BHS. A demon to ignore when I wish to go out and dine for a seafood buffet at Sheraton Hotel. A demon to let go convenience and comfort because it is expensive. I had to travel with Cebu Pacific and suffered of their poor customer service and long queue in the airport (I wrote about it here) because the airfare was way cheaper than flying with Etihad or Emirates Airlines.
There is also a big challenge to keep a balance (and sanity) between the present spending to also experience good things in life and the desire to save more for the future. Like, should I buy this battery operated toy car for ZJ? Or should I just purchase a regular toy car? Anyhow, he has just one childhood so why not pamper him and let him enjoy?
However, the biggest and toughest challenge for me is my hubby. We don’t share the same level of principle and outlook about preparing and securing our financial future. Though he supports my financial goals, he lacks the drive to work it out.
If I decide, I want a small house for us because it’s economical. He wants a big house.
He likes to shop new clothing. I don’t. My reason – I still have clothes to wear and I am fine with few selections. It doesn’t bother me at all that I have limited office wears.
If there’s any financial needs, it is ok. There’s a solution. We can borrow from friends or from the bank. I hate paying bank interest. I am shy to ask money from other people.
But in fairness to him, he changed already. He improved (big time!) compared to the first time we knew each other. Though I still wish we have the same focus, the same intense desire to achieve our financial dreams, it will be then much easier to work out and it is faster to achieve our financial goals.
My hubby doesn’t care about insurance. He doesn’t give a damn about it.
But I am concern.
My most concern is in fact our health care when go back home for good because by that time it happens, we are already approaching our fifties or sixties where the health care coverage is needed more than ever before. That’s why this is my top priority in allocating our monthly finances. More important than retirement and investment actually.
The health care in Philippines is not really much of a help. If you don’t have the funds, hospitals will not admit you. Doctors will not proceed with the necessary operation.
It’s simple. No money, no treatment.
But still, that doesn’t hinder me from pursuing our financial goals.
I am determined to reach our financial goals, to achieve financial freedom soon.
My family matters and so does our finances as family.