Everyone must have had a plan in his/her life. Plan itself is not gonna be real without finance. How much and where will you get the finance is an important part of planning your life. I didn't realize the detail so much until i have my own family.
Saving is a basic financial planning, the first kind of financial instrument a person knows. But, can it helps you to reach your plan?
Actually, it does not help much. It doesn't catch the inflation rate, though you still need to have a saving for urgent case that needs cash in hand.
Saving, deposits, gold, stocks, property, sukuk, insurance are several kind of financial instruments (investment). The diversion on the instruments is important on financing the plan, because each one of it has their own time to make an expected finance result.
The Government now is opening sukuk ritel for public. For your information, sukuk is not avalaible all the time and only have three years time of investment. Sukuk ritel 007 is the current one and will be closed in early March 2015. It has 8,25% profit sharing per year. The question is, what's your plan on the next three years? One of the example is education planning. Maybe your children will have to go to elementary school in the next three years. If you already have the education budget for your children, this investment will help you to catch the increase of educational cost in the next three years.
If you have another plan, it is better to know the increase rate of the finance per year. It is important point to decide your financial instrument you will use, to put your money. Does sukuk will help or not?
But, if you does not have idle money to be used in the next three years, it is wise enough not to push yourself on the investment.
So, make your plan and don't forget financing the plan to make it happen :)
