Jakarta, CNBC Indonesia – Some of you may have the obligation to support your parents in the midst of large monthly expenses. If you are married, this one expenditure must of course be discussed by your partner in order to create transparency in household expenses.
So how is it safe to be able to allocate funds for this one expense? Here’s the review.
1. Knowing the financial condition
The first thing if you want to give rations to your parents is to check your financial condition. The conditions that are checked are cash flow, balance sheet, and others. You can check using a financial calculator/
This step is important because it provides a monthly allotment as it will increase personal expenses. So that later it can be arranged for expenses per month.
2. Ask the needs of parents
You can ask your parents how much basic necessities are needed in a month. Basic parental needs such as food, electricity, water, and others.
Then you can get a list of your parents’ expenses that you can meet and calculate the appropriate amount.
3. Calibration of financial conditions and needs
It’s a good idea to negotiate how many parents’ needs can be met. This is so that the nominal given can fit your needs and financial condition.
You can be honest about your financial condition, for example, about debt that must be paid off first or for example cash flow conditions are not healthy.
So that you can adjust again how much nominal you can give to your parents.
4. Ask the wishes of parents
If your financial condition is stable or even excessive, you can ask what your parents want besides needs.
For example, paying debts, traveling, or something else. This of course can make your parents happier.
In addition, you can register your parents for insurance. This will make parents get health protection. Likewise with your cash condition that can be protected.
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