Starting a Family

Ensuring good education for your children is an important aspect of family planning. Long-term saving of these funds is not necessarily an unachievable task.

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  • 25-45 years old
  • People who want to provide a bright future for their children
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People at тhis Age Often Say to Themselves:

I don’t have enough income in order to set some money aside.


The period is too long.


When the time comes I will apply for a loan.


As a parent you are responsible to take care of your children and protect them.  You shouldn’t let any possible contingencies threatening your health and work shake your family’s financial stability.

What You Must Do?

Begin Saving for the Time Following Your Retirement

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Most probably you say to yourself: “It’s a long way to go. It is too early to think about my pension.”

At this age it is hard to imagine what life would be like in 35 years’ time, however, this moment will come faster than you expect.  Considering this, do you think it is possible to live on BGN 360 per month (average pension amount in Bulgaria in 2017)? If this amount is lower than you expect, you may have to start saving to provide for your future.

  • Begin by drawing up a monthly budget and distribute the amounts reasonably, determining your priorities. First, allocate funds to cover your permanent and urgent expenses (loan installments, utility bills, food, etc.).
  • Then, set aside a portion of at least 10% of your income which will be transferred to an investment or a pension fund on a monthly basis.  Put it on your to-do list, just like the payment of your electricity and telephone bills.
  • Set up an automatic transfer from the account your monthly salary is credited into.

Provide for Your Children's Future

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Long-term saving for your children’s tuition is an important part of family planning and is not necessarily a formidable task. If you start planning realistically and early enough, you have a significantly higher chance of giving them a good start in life.

If you delay such an important decision until the last moment, you may not have so many available options. Imagine the following situation: you have to pay tuition fees abroad, and your financial situation is not good enough to be eligible for a bank loan.


Insure Your Life and Health

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If you still don’t have any savings, you and your family face the risk of experiencing serious financial trouble in case of contingencies which threaten your health.

Make sure you have taken all necessary measures to cover your credit liabilities if such a situation arises. The best solution is a life insurance under which the insurance company pays an amount for bank loan repayment in case of death or permanent disability.


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