Being diagnosed with HIV doesn't mean a death sentence. It is still possible for people to live a full life. The opportunity to protect and provide for your family is still possible once you know the options that are available to you.
While there may be a few changes to how you live, there are some safety nets that you can start building that can benefit you and your loved ones.
Seek financial planning while you can
A common mistake that people make is waiting until they have accumulated large assets or funds to start financially planning their way to a secure lifestyle. However, you can start today with what you have and work your way towards reaching your financial goals. For anyone who is looking for honest insight into their finances and finding practical ways in which they can grow their finances and make it work for them, will need to speak to a financial advisor. A financial advisor will reveal the weak spots that are causing you to lose money, where you can cut back and maximise your money to its full potential, which can be beneficial in the long run.
Start planning for your child’s future
In an ideal world, sorting your finances as soon as you hear that you are pregnant to help prepare for your child's future is vital. However, there are many reasons why this could be delayed. The second-best time is now. Look into setting up a reliable education plan, medical insurance and an emergency fund for those unexpected moments that come with being a parent.
Protect yourself
Paying yourself first should be top priority when it comes to creating financial safety nets. What this means is having policies & investments in place that are created to protect you should you fall critically ill, become disabled or even die. Not only will this ease the financial pressure on your loved ones and your child, but it also means that you have peace of mind knowing that you are covered no matter what life throws at you. Investing in basic policies such as funeral cover, life cover, disability cover and a retirement fund can be a start. Gradually grow your financial portfolio the more your income increases to make sure that you and your baby are financially secure.
Start setting financial goals
There are big goals and then there are small goals that we set to make achieving the bigger ones easier. As much as we all dream of financial goals that will have us living easy, it is crucial to break these down into small practical goals that we can achieve. One of the main reasons why people tend to give up on their financial goals is because of not being specific enough on how they can go about achieving this. Speaking to a financial advisor or planner can help you take out the guess work and put practical steps to make your goals possible.
