Essentials in Life

Before I became a stay at home mom, I was working full time as an IT professional. Money was never my problem because I had a stable income. Even the medical insurance was provided for by the company I worked for. I had money to buy the latest gadgets. Money never was an issue.

But after I left my full time work to become a stay at home mom, I realized that I know move in a different world wherein I don't have the luxury of having a stable income. I needed to learn to budget the income we have so that we would be able to have enough money for our needs. We needed to categorize our expenses and prioritize the necessities and let go of those which are merely wants.

Here are some of the important expenses which we often neglect. They actually become good investments since the benefits outweigh the expenses for the family. In the area of physical health, it is important to have some form of medical and health insurance. Medicare supplements and insurance is important to our family since medicines and doctor fees are really expensive. Emergencies happen when you least expect it and having a medical insurance on hand does not compromise the health and safety of the family members.

We also wanted to have our own place. So instead of renting an apartment, we looked for a house that suited our needs and budget. Once we found it, we used VA Home Loan to help us finance and pay off the seller of the house. Acquiring a home loan is essential if you want to be able to get a place for yourself and not just be renters until your old age.

Retirement plans is something we often overlook as well. While young, retirement is far off the mind but once you reached the mid-30s, it is important to check sites like AARP.org which has retirement plans and benefits so that when old age comes, we will be ready.

It is truly important to be good in handling our finances, so while young, it is best to invest wisely.