Mommy Finance Made Easy! 🤰🏻🐶🤑
Hey y’all!!
How’ve you all been? I hope your week wasn’t as dramatic as Bombay’s summer rains that last for a whole of three minutes only to make the weather muggier. Okay sorry for sneaking in a little rant there but I just wanted to ask you,
Since I did not want to add to the noise around mothers’ day I thought I would share my two cents on managing the financial responsibility that comes with motherhood now, so read on to know more!
What I was up to: This week’s been busy, Niyati is on a personal trip so I’ve been hustling to get things done. We’ve been having our internal huddles to align a lot of backend work for many exciting things that are underway and my team would practically murder me if I tell you anymore. So the best I can say is “Stay tuned gaaaais!” 🐄🐄
Market ka haal: 📈 The Sensex and Nifty 50 surged by nearly one percent each, reclaiming lost ground after recent setbacks. Bulls seem poised for a comeback as the index surpasses critical moving averages, hinting at a bullish market in the days ahead.
Riding high, Asian markets witnessed a surge alongside the US stock market, which hit record highs overnight. The US Federal Reserve's potential interest rate cuts gained traction after a modest rise in US consumer inflation. Meanwhile, European stocks remained near record levels, reflecting increased confidence in Fed rate adjustments fueled by US inflation data. 🌍
So, overall, jollygood times ahead yay!🚀
Also, we now have our very own WhatsApp channel to serve freshly cooked finance content directly to your DMs and get you to be amazing at managing your money 💰 Click here to join!
Humara Gyaan: Motherhood is like the sweetest, happiest, scariest and the most challenging position all wrapped up into a little child, and as many say and I do agree as Simbaa’s full-time dog mom it’s a blessing… mostly! The following tips could come in handy for expecting mothers, new mothers and pet parents too to be honest because they ain’t cheap no more :3
1. Bump Up Your Emergency Fund: As you embark on the journey of motherhood, consider increasing your emergency fund at least by to 50%. This fund will act as a safety net, specifically to handle unexpected medical expenses during conception, pregnancy, childbirth, and postpartum.
2. Stash Away Money for Child Care: Create a dedicated savings account for child care expenses. Start contributing to this fund regularly, whether it's on a weekly or monthly basis. Ideally, begin this practice as soon as you begin thinking about bringing in a new addition to your family. However, even if you're late to start, remember that every contribution counts. Building a buffer for child care costs allows you to adjust to the new financial responsibilities seamlessly. It also provides a cushion for upfront expenses such as healthcare, deposits, daycare fees, and other essentials.
3. Get Insurance for Your Baby: Prioritize securing health insurance for your newborn. Many health insurance providers offer a grace period of 30 days post-delivery to add your baby to your policy. Take proactive steps to include your child in your corporate insurance plan, your top-up coverage and/or your private plan. Consult with your insurance provider or agent and ensure that your baby receives comprehensive coverage right from the start!
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Proactive planning today ensures a secure and prosperous future for you and your bundle of joy so divert a portion of your nesting instincts towards nurturing your finaces, too!💰
Have a lovely week ahead, let’s talk soon!
Sayali❤️
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