Written by Lukas Bachmann
Proper Provision for Young Families: The right protection for parents & children
Having children is the most wonderful thing – and at the same time the most challenging.
Whether you are a new parent or already navigating everyday life with school-age children: suddenly it is not just your own life that matters, but also that of your little ones. And with this new sense of responsibility come new questions:
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How can we ensure our family is protected in an emergency?
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How can we possibly save money when everything is getting more expensive?
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And what does provision actually mean for families?
That is exactly what this article is about. No jargon. No sales. Instead, three concrete tips that will help you immediately.
1. Budget: The foundation of family provision
Most young families experience it sooner or later: More expenses, less income – because of part-time work, daycare costs, or unexpected expenses.
A family budget is worthwhile – not just for control, but to create security:
- What comes in? (Salaries, child allowances, side income)
- What goes out? (Fixed costs, groceries, childcare, insurance)
- What remains – and how can you plan with it consciously?
Tip: Do not calculate "optimistically" – be honest. And plan for real everyday life – with spontaneous birthday parties, burst rain boots, and unplanned doctor visits.
Use our free budget calculator
2. Protection: When everything changes suddenly
What happens to your family if one of you suddenly cannot work? Whether due to illness, accident or death – nobody wants to experience such situations. But especially with children, you should think them through.
The problem:
State benefits (AHV, pension fund) often only cover part of the need – and apply only under certain conditions (e.g. marriage).
The solution:
- A private risk insurance policy costs little but secures your existence in an emergency. However, this should be well planned to avoid unnecessary costs!
- Even in case of disability, supplementary insurance can help cover gaps in income protection.
- Couples living in a registered partnership must take action themselves – otherwise children and partners remain unprotected.
Tip: Have your current protection reviewed by an independent party – and then obtain various suitable quotes.
3. Saving: Possible even with a family – just differently
Many families think: "We have nothing left to save." But often it is not the money that is missing – it is the system.
Here is how it still works:
- Automate saving: Standing order right when salary arrives – even CHF 50 monthly makes a difference long-term
- Do not forget your own provision: The best security for your child is financially stable parents. Save primarily for yourselves to remain flexible.
- Children's saving done right: Instead of a savings account, invest in broadly diversified ETFs to benefit from compounding long-term.
Example: Anyone investing CHF 100/month for a child in an ETF savings plan can achieve over CHF 35,000 after 18 years – without paying in more than with a classic savings account, which would yield barely CHF 22,000.
Conclusion: Family provision is not a luxury – it is common sense
You do not need to be finance professionals – but you should consciously engage with your new phase of life.
That is why we at innoVorsorge AG have developed a compact, honest guide specifically for young families – with all important topics explained clearly:
What awaits you in the guide:
- Budget checklist
- Death and disability protection
- Savings strategies for families and children
- Practical links and templates (advance directive, living will, etc.)
Would you like to discuss your individual situation with an expert independently and optimize it concretely? In our provision analysis, we holistically review your financial and provision situation and guide you step by step through the provision jungle.