5 Ways to protect the future you’ve built for your family

 

Always remember to protect the future of your family,because you are the back born to them. The moment you don't lay a good foundation for your family, either for term life insurance plan then prepare for the worst predicament for your family.

The future comprises the small, everyday that shape the kind of life you’ve envisioned for the people you love. Are you starting a family? Scrimp and save to build your dream home. Are you arriving to educate your children,unable to pay for their school fees? Struggling to pay other bills like water,hospital bills, traveling bills and even emergencies.

Just work hard for your family to have a good future for children, grandchildren even your great great grandchildren.

Put aside emergency fund. 

Setting or putting money for an emergency, it helps and protects your family from unnecessary troubles.

For example emergencies like sicknesses, accidents and other emerging issues, they don't necessarily knock at your door for preparations. Be always have the mind of setting a side small coins to Carter for emergencies.

Pay your debts. 

Avoid debt at all costs! But if you have to have debt, prioritize paying them. If you know you are fond of borrowing and you don't have any source of returning back, please avoid debt in all manners.

If you really necessary you have to borrow,just commit yourself to return back. This would help you in time of needy, an emergency or an accident. Surely ,If you borrow money or something from me and you don't return back, do you expect an assistant from me? A big No.

Paying back it gives the creditors a morale of giving to you next round.

Preserve what you built.

Don’t let uncertainties take away the things you worked hard for. For example if you had built an house or bought a car for a loan which you took either from a bank or a sacco ,make sure you protect them.

Ensure you are well protected and sorrounded by insurance companies. Because if you safeguard yourself with an insurance,it helps you to cater for what you have lost.

This term life insurance plan has three affordable variants: Short Term Cover for your loans and financial obligations; Income Protector for your family’s living expenses and your children’s education; and for smooth transfer of wealth to your heirs. 

Always be optimistic to take insurance that can be your saviour in time of difficulties.

Develop new skills.

Always try to shape your future and that of your family, by ensuring that you yearn to learn new skills of development. This can be done by volunteering, to manage a project ,to finding a mentor and attending seminars, developing new skills add value to your career and is crucial for your growth (and promotions)!

Don’t be afraid to swerve from your sweet comfort zone. Turning on and upgrading hobbies like branding,singing, baking, photography, blogging, et cetera. could mean new streams of income for you and your family. The possibilities are endless when you don’t stop learning!

 

Diversify your investments

Remember the saying “Don’t put all your eggs in one basket”? That’s investment diversification in a nutshell. Diversification is investing in different funds from different companies and industries so you don’t run the risk of losing all your money when one of your investments suffers. That way, the money you intend to grow for your family’s future needs is secure.

 Putting your money in various sectors of investment,can help you if one sector fails the other one gives a back up.

Safeguard your health. 

Health is wealth. You live in a world where, more often than not, your income directly affects your health. With money, you can opt for healthier options, and you can afford medicine or hospital expenses. You can take medical cover insurance, physical, and financial wealth. Its advisable toato have Nhif,and other health-related medical covers ,to cover for any sickness,an emergency or chronic diseases. Ensure you adhere to Covid19-related confinement.    

Securing your finances is an important aspect of your total wellbeing. Along with mental and emotional , social, and physical, managing your finances well allows you to live the joy of wellbeing. When all aspects of your finances are covered,