Life for young families can be particularly challenging. When children come along, expenses typically go up while your household income most often falls. With this in mind, think about your lifestyle now and what you could lose if something unexpected to the main household income earner, for example:
Save for a home deposit
Keep up with rent and mortgage repayments
Your child’s education
Day-to-day expenses and household bills
The reality is that many Australian households remain seriously underprepared to cope with a financial emergency and yet it doesn’t have to be this way. At Orbit Financial Services, we help young families to manage their income and expenses through a comprehensive analysis of household finances and provide subsequent recommendations to improve the way you’re managing your money. We also provide realistic guidance in terms of the types of insurance cover you’ll need to ensure your family is protected in the event of an unexpected crisis.
We often find that forecasting a family’s position in the event of an unforeseen illness or injury that prevents one or both parents from working is a sobering experience. With the right strategies in place, the financial impact of these types of events can be eliminated.
When you’re thinking about your family’s financial future, it’s never too soon to start planning, but it is possible to leave it too late.
The best time to make decisions about keeping your family financially secure is right now while you’re still young, fit and healthy. To find out how, please contact us.