Child-Birth Frugality Program from IZYS
A child’s birth means serious costs for families in many different areas.
The first expenditures arise during maternity since the arrival of a new born is awaited with the purchase of many new products. In the beginning, expectant mothers have to alter their wardrobe since form around the middle of the pregnancy two of them have to fit under one clothing item. Az the expected day approaches, we have to decorate and furnish the baby’s room, buy, amongst many other things, the furniture, a stroller, possibly a scale and a breathing monitor. During the precnancy and then later after child-birth, we have to pay the medical bills and then we did not even mention the many little clothes, diapers, blankets and other little things we also need to buy for the baby.
And if our wallet allows it, there may be extra costs like taking out a stem cell or repainting a nursery.
In the following, for the sake of sensitivity – but without claiming completeness – we try to outline the costs incurred.
Costs before or at the time of delivery (based on market surveys, our data are characterized by an average minimum and an average maximum price when purchasing new products):
|stroller (with 3 functions)||70.000,-||200.000,-|
|medical expenses||55.000,-||150.000,- (5.000 Ft/examination)|
Contains the following categories: laundry rack, odorless diaper trash, blankets, bedding, textile diapers, diapers, baby clothes, mattresses, pacifiers, toiletries, towels, nasal vacuum cleaner, maternity pads, bra pads, breast milk containers, breast pump, sterile, belt clip – for frequent use.
|4D ultrasound||7.000,-||15.000,- (occasion)|
|Stem cell extraction||290.000,-||360.000,-|
The next cost factor that young people often forget is that one parent has to stay home with the newborn. This means at least a 30-40% decline in the family income for a shorter or longer period after delivery. Some people choose sick leave during pregnancy, and the loss of income occurs before childbirth.
A third factor is the increase in the size of the family, which in itself increases the cost of the household, as one more person has to be cared for from the same amount.
A responsible parent should not only be at the forefront of spiritual and knowledge preparation. You also need to plan financially for how you can finance the extra burden of childbirth — loss of income and one-time and ongoing cost increases.
According to the statistics, Hungarian families plan the birth of their first child on average 1.5 years in advance, so savings must be ensured within this short period
In your opinion what is the easiest way to produce the amount needed? Take it out in a larg sum from the family coffers when needeed – this isn’t always possible in every household-, or or collected from smaller amounts each month in addition to government aid?
Many poeople don’t know, are not familiar with saving options related to child-birth whereas the government supports conscious parents who are properly preparing for childbirth and planning ahead very seriously. This includes, on the one hand, the fact that the proceeds of the sums set aside for childbirth are exempt from interest tax, which in itself means a yield 20% higher than a normal bank deposit. In addition, and this is also a significant discount, it rewards planners on time with an additional 20% tax credit, regardless of income.
It is also an important aspect that the you can pruchase a pram, baby furniture and other accessories at a discounted price, or they can go to a maternity gym at a discount, and even get a discount on stem cell removal from our partners. Click here to see the list of our partners.
You can provide all of the benefits listed above by joining the IZYS Self-Help Fund.
Example: Suppose you save $ 10,000 a month at IZYS to cover the cost of childbirth for a year and a half. Then your HUF 180,000 * will be collected in the Fund. The state will increase these savings by HUF 36,000 through the tax credit, while with 8% interest, it can gain an additional HUF 10,000 through such yields in such a short time. Think about it, just from the extra that the government adds as a tax credit, you can furnish your child’s room or buy a stroller.
How can you gain acces to the savings you collected at IZYS?
The services at a self-help fund are callled aid because we aid ourselves using our previous money we put into our account. The savings will be available to you when you need them the most:
- Sick pay supplement
- Child-birth service
- CSED(previously TGYÁS)/GYED/GYES supplement
- Dental treatment
How can you gain access to these services?
You do not need to specify which service you will use when logging in. The service request form must always be sent according to the current need. The services are requested by sending the documents listed on the service request form and the request form. When assessing the service, the Fund only examines the existence of certificates / documents and the balance of the individual account, it does not perform any further consideration. If the documents are complete, you will transfer them within 1-3 days of receipt
You are able to aquire multiple services at the same time.
In the case of infant and baby care products, breast milk supplements and substitutes, only invoices confirming the purchase should be sent, no application form is necessary.
What if I am unable to have a child?
If it has not been revealed in your lifetime that you or your partner cannot have a child for genetic reasons, then according to Hungarian statistics there is only a 0.03% chance that you have an illness that may prevent you from having a child. That is, approached from the other side, you have a 99.97% chance of having a child.
Of course, the amount paid will not be lost in this case either, you will only be able to use it for another service – the following –
What type of services that do not relate to child-birth can aquire?
What do I have to do to enter the IZYS Self-help Fund?
You can enter by sending the completed entry form, which can be downloaded from the Fund’s website here, or by requesting a personal appointment from our consultants.
Call now and ask customer service for more information or personal advice.
* The costs of the Fund are not included in the calculation. The Fund credits 94.1% of the deposits to the individual account. The information is not complete, for further details please contact our customer service or get information on the website www.izys.hu/en.