What is the best way for a single mother to manage money?
: Financial management
The divorce rate data released by the Civil Affairs Bureau shows that in 2004, the divorce rate was 1.28‰, and in 2010 it exceeded 2‰. By 2013, this number has soared to 2.6 miles. Single mothers are increasingly becoming a large group under high divorce rates. For single mothers, not only need to re-enter the workplace after divorce, but also shoulder the burden of raising children. Then, can single mothers restructure their assets through reasonable financial management, and make money and wealth, thus solving many material problems of themselves and their children? We will explain the financial management of single mothers with examples. Ms. Wang’s wealth status: Ms. Wang, who lives, 34, divorced last year, and began to live again with her 4 daughter. Ms. Wang is currently renting a house in her two-bedroom apartment with her mother and daughter. Due to the busy daily work, Ms. Wang does not have the extra time to take care of her wealth, and she is also a safe and trouble-free financial management route. Ms. Wang’s financial goals: 1. Buy a house of his own; 2. Plan for the future of her daughter. Ms. Wang's wealth situation analysis: Ms. Wang is good. It is easy to cope with family expenses. The monthly balance is nearly 20,000. Although the annual expenditure is negative, the existing wealth management products and monthly balances can easily meet the additional expenses, and the pressure is small. Financial advice: 1. First improve your own security. Financial experts believe that for the current family, Ms. Wang is the backbone of the entire family. However, looking at Ms. Wang’s wealth ratio, she found that she did not provide perfect protection for herself. Therefore, Ms. Wang must first consider avoiding possible risk events and preventing the impact on her daughter’s and parents’ lives. It is recommended that Ms. Wang can insure some commercial insurance. Life insurance and accident insurance can be considered. The insurance amount should not be less than 500,000. Considering that the beneficiary is a daughter, once the custody is transferred to the ex-husband, the insurance premium is equal to The ex-husband dominated, so it is recommended that Ms. Wang designate the beneficiary as a parent. 2. Continue to insist on financial management From the above-mentioned debts of Ms. Wang, we can see that Ms. Wang is partial to financial management. On this point, experts believe that Ms. Wang can continue to insist on it. After a long time, she will surely get good returns. However, Ms. Wang’s current and cash reserves are slightly more. It may be possible to transfer 150,000 of them to wealth management products or purchase funds, and the remaining 50,000 will be more than enough for temporary large-scale turnover. 3. After considering the purchase, consider the high housing prices. If you buy a house now, it may cause some pressure on Ms. Wang’s economy. We can calculate that a small apartment with a good location needs at least 2 million. If you consider your daughter to choose a school district, then the price will be better. 30% down payment plus decoration and other expenses need at least 700,000, basically emptying Ms. Wang's savings at one time. Based on this, the experts suggested that Ms. Wang should continue to rent the house first, and then choose the house when the property accumulates more. At present, Ms. Wang has a balance of 200,000 a year. I believe that this day will come soon.