7.16.2020

Future Thinking And How You Can Invest In Your Life'

Life can get pretty expensive at times. The moment you decide you want to fly the nest from the comfort of your family home where, perhaps, your parents may have made all of the difficult decisions for you, is one big step to take. Let’s not forget the moment that you may then decide to start a family of your own. It is much more common for children to stay in the parental home much longer. Life in general can be expensive and many of the costs include clothes, food and even toys for the kids, and it includes general expenses for you such as mortgages, life choices like what to do with your life and taking care of your wellbeing. What about when the children are older, could you then have to think about financing university? That could cause your cost of living factors to rise even higher. Of course, there are so many things to consider when it comes to the general life costs, sometimes they are obvious, and sometimes you need to be reminded about what is really important. Some things in life we simply cannot afford to scrimp on, not just in terms of financial thinking but in terms of lives. With that in mind, here are some of them. 


Life Insurance

Should you be thinking about life insurance? The answer is yes. A cost that you may think is perhaps unnecessary can do a lot for your family after you are gone. Life insurance, in theory is taken out, when you decide to own a property. As there is such a huge cost involved to buy a home, some of which is probably mortgaged, you will have a long term debt that could be taken out for a span of 25 years or even more in some cases. However, if you were to suddenly leave this world, what would happen to that debt? Your home would perhaps need to be sold, one that has become your family residence, or it may pass to your partner to handle moving forward, and would it even be affordable on just one income? Life insurance gets rid of that worry for you, and in general, the little cost each month far outweighs the bigger issues in terms of what could happen if you don’t have it. 

Property ownership, now and for future funding 

One of the biggest costs we have is our homes, and we have just been discussing what would happen to it if you don’t protect your assets in some way. However, buying a property isn’t just for now, it is also about funding your future in some way, or creating your estate for your family after you have gone. Buying the one property that you live in is great, and one thing that the majority of people aim for in their lives, but you could do so much more that could potentially help to fund your future retirement or even add as an additional income. Obtaining a mortgage loan for properties abroad in different countries is easier than it once was, and not only getting the benefit of the long term investment and holidays, you could also get some short term rewards by having it as a holiday let. This could be a villa, bungalow, a penthouse or a new home construction. Staying closer to home and buying an additional property to rent out for a long term lease could also be very rewarding, and with managers handling every step of the process, it could be a no brainer. If you have the funds, investing them wisely could really benefit you and your family in the future, and it is certainly something not to scrimp on, that is for sure. 


Healthy Foods

Let’s talk about something other than your finances for a minute. Your health. Which in the grand scheme of things if you don’t have, then you can’t essentially live your life to the fullest of your potential. Sometimes you can’t help the situation you find yourself in with your health, and you may have problems that are ongoing and you make the best of them. But, what is in your control in terms of your health is your diet. Making the choice not to scrimp on what you eat is actually an essential part of living a fulfilling life. Your health is important and so making better choices in terms of the foods you eat, the snacks you snack on, and the ingredients you put together for your meals can make a huge difference. In terms of cost, you may find that some of these choices cost more, but that doesn’t essnetially mean that the investment isn’t worth it. Investing in your health could be seen as a given, but it is also extremely worthwhile. 

Annual Leave

Working is just one of those things we have to do, and many of us are either slaving away in full or part time positions and this is when holidays can be difficult to take. But family life and children especially can take over. In some terms, you and your family will remember those times when you are altogether enjoying eachothers company and having some amazing experiences. If you can, book you annual leave in advance, that way you can plan ahead and ensure that you get to have those experiences. 

Exercise

While making exercise a priority and being active the best advice would be to lead by example. Whether that is for yourself, your partner or even your children. If they see you heading to the gym or waking when the weather isn’t so great then they will pick up good habits for life too. Even on the days where you feel tired or you are busy, exercising can make you feel fabulous. Fresh air and being more active can be essential elements for maintaining your health and fitness. 

We’re all looking to save on the costs of life these days. But there are some things you really can’t scrimp on. Take care of your family and yourself.


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