When I was in my early 20’s (I’m just in my mid.) I thought having a family is just an easy thing. I saw a lot of not so well-off people who get married, rent a house and live a peaceful life.
Well that was what I thought.
Starting a family is not as easy as one – two – three. Both parties have to be ready physically, mentally, emotionally and of course financially.
Let’s talk about finances since my blog is for that purpose.
Few years back, I told myself I cannot marry my long time boyfriend unless I have a quarter million pesos under my name. That was when I was still new in the in the employment world. I thought if I have that amount I can already set up my dream wedding and have enough down-payment for a house.
I was wrong. I planned without considering facts and data.
Being a financially literate person, a quarter million Pesos is not enough to start a family.
My boyfriend and I want to buy our own house first before settling down. I told him we should at least have 75% of the total cost before buying a house. The remaining 25% can be paid in instalment basis for the least period of time. Obviously, the amount stated above is not enough for this goal. Moreover, we have to prepare for the education of our children to be, our own retirement fund and of course saving for a family car.
So how much then is enough?
It depends upon your priorities. We all have different needs to attend to. For me, as long as it will not put me in deep financial mess then it’s ok.