New parents, new budgets<\/p>\n
Ratna Eliyawati
\nContributor
\nSurabaya<\/p>\n
Married life presents a new kind of challenge. Each partner
\nmust adapt to the other's traits and mind-set for the marriage to
\nwork. Careful budgeting is another challenge, especially with the
\narrival of the first child.<\/p>\n
Basically, there are three areas of responsibility, or
\nfunctions, that have to be taken care of by both members of this
\n\"life partnership\".<\/p>\n
First, economic well-being. Though traditionally this
\nresponsibility rests on the shoulders of the husband, in today's
\nsociety the role is reversed in quite a number of cases, as men
\nare becoming more accepting of successful wives -- career-wise,
\nthat is. With a major portion of the family's income earned by
\nthe wife, the decision maker in the family for budgets and
\nspending, as well as of lifestyle, is no longer the traditional
\nhead of the family or the husband.<\/p>\n
Second, emotional support. Here, it is the kind of love that
\nalso includes willingness to sacrifice for each other and the new
\nfamily member: the child.<\/p>\n
In the case of child support, various sacrifices have to be
\nmade to create a revised budget. Selflessness is the order of the
\nday. Raising and bringing up a child takes away a large chunk of
\nthe available money. Plans for the purchase of a new fridge,
\nwashing machine or television set probably have to be postponed,
\nas expenditure priorities will have changed. Apart from food,
\nclothes, education and health care, other items are no less
\nimportant, such as toys or all of the paraphernalia of a child's
\nworld. Everything is done to ensure that the child does not feel
\ninferior to his friends.<\/p>\n
The third area is to form a suitable family lifestyle. This is
\na fusion of each partner's previous lifestyle, experiences and
\npersonal values, which are then translated into, among other
\nthings, their choice of residential location, style of child
\nupbringing and use of spare time for the family's recreation.<\/p>\n
When these new parents are at a junior- or middle-managerial
\nlevel in their career, another problem crops up. With their
\nnatural desire to climb to a higher social level, they often
\nencounter conflicts on budget allocations: Taking a new course,
\nattending a personal improvement seminar or buying a video game
\nfor the child.<\/p>\n
Every manufacturer of products for children knows how to
\nattract these extremely young customers and uses every trick to
\nsoften the hearts of decision makers -- the parents. In many
\ncases, purchases are made to stop the child from nagging,
\nalthough the family's cash flow is already in the red.<\/p>\n
The abundant information available in the media on child
\neducation makes it easy for new parents to be more choosy about
\ndeciding on the right school, and so forth. The selection is not
\nbased only on information disseminated by the media but further
\nconfirmed by personally visiting and finding out for themselves
\nall the pluses and minuses of advertised education centers.<\/p>\n
With regard to their child's health care, young and educated
\nparents are also very critical. Apart from conventional vitamins
\nand supplements, they are also extremely cautious before deciding
\nto provide their loved one with \"intelligence-enhancing\"
\nsupplements that are currently advertised everywhere.<\/p>\n
While most new parents with a new family member -- the child
\n-- have to be extra careful with their spending, those in the \"A\"
\nor \"A-plus\" income level category (exceeding Rp 10 million in
\ndisposable income per month) have comparatively more leeway. Both
\ncategories, however, demand quality in the products or services
\nthey may buy, all the more so if they are related to their child.<\/p>\n
A recent survey carried out in several of Indonesia's major
\ncities by SWA-Pacific research agency confirmed that almost all
\nnew parents allocated a major portion of their income to their
\nchild's needs, with some of the A-plus families spending as much
\nas 30 percent.<\/p>\n
New financial management courses specializing in management of
\nfamily earnings have also emerged in some large cities, such as
\nJakarta, Surabaya and Bandung. This further indicates that money
\nmanagement for young families is one important aspect that has to
\nbe fully mastered for the long life journey of the couple, as
\nwell as that of the all-important, additional family member.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/new-parents-new-budgets-1447899208",
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"sponsor": "Okusi Associates",
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