|How to Manage Finances So You Can Save Every Month|
How to Manage Finances So You Can Save Every Month – For most people, saving is a very difficult thing to do. Salaries every month often run out without remaining. Though saving is important to prepare for future needs.
The savings can be used for school fees, college, marriage, buying land, building a house, giving birth, milk for children, buying a vehicle, and just in case someone suddenly gets sick.
Imagine if we have no savings at all, then suddenly need quite a lot of money, surely we will end up in debt. After being in debt, the problem is paying off debt, because you have to cut your monthly salary to pay it off. Finally dig a hole to cover the hole. Gratitude is not entangled in online loans (pinjol).
Actually there is a secret how to manage money every month. This method is difficult and easy to implement. But something that is difficult will become easy if you practice often and it becomes a habit.
How to Manage Finance
The following tips can be applied to improve our financial management every month.
1. Recording the Financial Budget
The theory of recording income and expenses every month does have its benefits. It can even pay off. But its implementation is very difficult.
Although there are many applications to help record money in and money out, but almost 90% of people stop recording it after a few weeks.
In fact, humans are indeed difficult to do that. We are often faced with feeling lazy and forgetful after spending money.
So, if you can apply this activity in your life, chances are your finances will be more organized and easier to manage.
However, if keeping track of your monthly budget is difficult, you can use the second method, which is to divide your savings.
2. Divide Savings
At least you must have two different banks. One is specifically for saving, while the other is specifically for daily needs.
Never keep your savings and daily necessities in the same place. Because this will make you always feel you still have money and want to spend it.
For example, your salary is 5 million a month, so when you get paid, immediately separate the money into two different types of banks. For example, 3 million in bank A (specifically for savings), and another 2 million in bank B (only for shopping).
Well, you must commit not to interfere with the money in bank A. All your needs every month can only be financed from money in bank B.
If you need money in bank A, never check it at all so that there is no temptation to buy things that are not important.
In this way, you become aware of the limits when spending money starts running low. So you can control the desire that is not so important to be postponed until the next payday.
What about people who have business ventures?
For those who have a business or business, you should add a special bank to rotate the business money.
So, 1 bank for savings, 1 bank for shopping needs, and 1 bank again for revolving capital.
This method is very easy to do, because there is no need to be tired of recording expenses and income, because it has been rationed from the beginning of payday.
How to deal with bank admin fees?
Many people are bothered by the bank admin fees that are drawn by the bank. Even though the amount is small, over time it eventually reduces the amount of savings as well.
There is the right solution so that our savings are not drained by admin fees, including:
1. Saving at Bank Syariah Indonesia (BSI)
It should be noted, Islamic banks have two savings contracts, the first is a Wadiah contract , and the second is a Mudharabah contract . If you don’t want admin fees, when opening a sharia account, you should choose a Wadi’ah contract.
So, every month your money will be safe from cost cutting. It’s like keeping money under the pillow. The difference is that money is safer, you have a passbook, ATM, and can use the SMS Banking, e-Banking and m-Banking features.
2. Saving at Bank Jago
Bank Jago can be an alternative to saving without being charged admin fees. Registration is easy because it can be done online. No need to come to the bank anymore.
In order not to be subject to admin fees, when registering choose a 0% interest package. After that, we have an ATM card, mobile banking, we can transfer anywhere without admin fees, and for sure the money is not drained by admin taxes from the bank (free).
3. Invest in Seeds
Instead of saving money that is not used for the long term, it is better to switch it to a mutual fund investment that has minimal risk, namely in Seeds.
The way we choose Money Market products and Bonds only. Don’t pick stocks. Because stock prices are often volatile, inconsistent, sometimes up and sometimes down too deep. Instead of profit, later even loss and excited.
Meanwhile, if we invest in Money Market and Bonds mutual funds, our money will continue to grow and earn returns. Although it is not as big as the profit in stocks, our money is safer and more profitable than saving in a regular bank.
4. Saving in a Digital Wallet
Lazy to open a savings or bank account, we can take advantage of the Digital Wallet (E-Wallet). There are many applications that we can choose from, starting from Dana, Shopeepay, Ovo, Gopay, Oy!, etc.
Just install the application, register, and fill in the balance every month. So, even without a bank we can still save. Especially for minors, you can use this method.
The way to top up the balance is very easy, you can go through Alfamart, Alfamidi, Indomaret, and even through the credit counter.
That’s how to manage money so that we can save every month, hopefully we can apply it in life, so that it can be useful for the future.
Lastly, don’t forget to donate and give charity. Because the real treasure that we have is the treasure that we give to others.