Have you ever heard someone complain about a passing salary? Or have you ever experienced it yourself? Maybe it's because you don't know how to manage your finances carefully.
Managing finances is undoubtedly a crucial thing to fulfill all your daily needs and realize your dreams in the future.
The reason is, no matter how much income you get every month, if you don't know and apply careful financial management, you may always feel lacking.
Not only that, the various goals that you want to achieve in the future may be chaotic and don't go according to plan if you have poor financial management.
Financial management tips for a bright future
So, to realize all your goals and plans in the future, there are several financial management tips that you can start implementing from now on. Here are some of them.
1. Make financial records
Keeping a record of financial income and expenditure is arguably essential, but unfortunately, most people often forget it.
The reason is that by making financial records, this can be used as personal evaluation material to do financial planning for the next month.
Making financial records like this doesn't need to be complicated because the most important thing is to understand them.
If you don't understand how to make financial records manually, currently, there are lots of financial management applications that you can use to record and manage finances.
With an expense record, you can have a guide for managing money. You will understand what your needs are and how much it will cost.
You can also see what expenses are unnecessary and can be reduced in the following month.
2. Make a financial plan
In addition to records of income and expenses, doing financial planning is also, of course, no less critical for you to do every month or even week.
You need to make clear and detailed financial posts in this planning process. Because that way you can manage your money more wisely.
These financial posts will show the priority scale, ranging from very important to not very important. You can allocate money according to the priority scale.
Suppose a financial plan has been made, and you carry it out in a disciplined manner. In that case, the opportunity to achieve financial goals within a certain period will be even more excellent and more measurable.
3. Adjust your lifestyle to your abilities
The size of a person's salary sometimes cannot be a benchmark of whether that person can achieve the financial goals that have been targeted. The reason is, everyone generally has a different standard of living.
Even though their salaries are relatively small, some people can collect large amounts of money because they have a simple lifestyle. On the other hand, some people find it difficult to save because of their high lifestyle, even though their salaries are relatively large.
Worse yet, nowadays, there are few people who, even though their income is arguably standard, have a very high lifestyle because they are influenced by the social environment of the people around them.
Some people force themselves to have a high lifestyle to maintain a reputation on social media.
This condition will certainly make spending more wasteful and make it difficult for you to save for a bright future. Therefore, you should adjust your lifestyle according to your abilities and financial conditions.
4. Get used to saving
Since childhood, you have often been taught to save. However, have you applied it well in your daily life?
Unfortunately, some people admit that it is difficult to save because they feel their income is not too high for them to set aside money.
But, making a financial plan and recording all your expenses every day can help you to determine which is a priority and not.
In addition, make it a habit to save immediately after getting a salary, not waiting for the rest of the salary. Because often, most people will take half of their savings at the end of the month instead of setting aside money for savings.
5. Start investing
If you want your saved money to give you a return in the future, maybe it's time for you to try to switch it to an investment instrument.
Yes, investment is considered one way to keep the money saved from being eroded by inflation. Because, by investing, you have the opportunity to profit from the price difference when buying investment instruments and the price at the time of reselling them.
However, entering the investment world must also be equipped with sufficient knowledge and understanding to minimize the risk of loss.
You also have to be careful in choosing the type of investment instrument that is most suitable for your risk profile and investment objectives.
For beginners, investment instruments such as money market mutual funds or precious metals may be the best choice because both investment instruments are known to have the lowest risk of loss and only offer a small return.
Also Read: 5 Types of Profitable Investments For Families, Can Be For Beginners!
6. Financial management by turning money into the business sector
The last financial management tip is to start thinking about turning money into the business sector to have other sources of income, not just relying on salary.
Here, you don't need to open a direct and big business because you can start small first. Because if you are tenacious and work hard, a small business can grow into a big one in the future.
So, so that the process of starting a business runs smoothly, you should choose a business sector that does have promising prospects not only for the next one or two years but for the long term.
One of them that might be considered is a business in the education sector. Why is that? Because, until now, education is still one of the basic needs of many people, and this will continue to happen at any time.
In addition, the education sector is also fully supported by various government programs such as the BOS Fund, which education units can use to fulfill the procurement of goods and services in schools through the SIPLah platform.
Also Read: What is SIPlah, Goals, and Benefits for Educational Schools and SMEs!
Unfortunately, some business people involved in this sector are sometimes unable to develop their business to be more advanced because they are constrained by limited capital. This problem can be solved if you entrust Pintek as a solution to your business funding problem.
Pintek, as a fintech company for education, has a mission to encourage the transformation of education in Indonesia. This means that for those of you who run a business in the education sector, you can apply for financing at Pintek so that your business can continue to run and develop optimally.
Through the PO/Invoice Funding product, businesses in the education sector can get funding of up to billions of rupiah with a tenor of up to 24 months. In addition, the interest charged is also competitive, starting from 0.9% to 2.5% depending on the credit scoring.
To get funding at Pintek through PO/Invoice products, education vendors only need to guarantee an invoice or an ongoing bill. These funds can be used to fulfill school orders such as the procurement of laptops, books, and others.