As you know very well that during the study period We have income from parents in the form of snacks. Which may not have to allocate much money each month, when the money runs out, you can ask for an additional parent Without being tired Or difficult to find in any way But after graduating to working age Income is in the form of salary. Which the name says already that it is the money that is received once a month If not allocated money well I can assure you that you can use it for sure. Today, we have techniques for using money to save and creating a body building in the working age to leave each other as follows.
1. Know how to plan your financial expenditures
When getting money, either in form of salary or wages, divide it into sections. The part that is used for everyday life And the part that is saved for the future.
2. Make an account
Create a personal expense account Include all income figures And make a note of expenses each month That I paid for anything Predict future expenses Make a budget summary To keep track of spending That which parts can be reduced Or can be cut off.
3. Know how to save for the future or the future
Is something that is very necessary The savings account should be separated into 3 accounts: emergency expense account, savings account, and investment account. I can assure you that when you see the money in the account that you save on a monthly basis. It will make you motivated and enjoy the savings ever.
4. Let's deal with debt first
It is perfectly clear that the lack of debt is a great windfall, with debt that includes both "good debt" and "luxury debt" depending on the purpose. But for compulsory debt like debt The NBTC is considered a necessity. But do not fall into the whirlpool We have a technique for reducing debt, trying to pay as much as possible. Without affecting Necessary regular expenditures To pay off the debt with the most expensive interest first In order to be able to close the account as quickly as possible It might be a bit tiring at first, don't be discouraged because this is the time when we still have strength. When the debt is reduced until the end You will have more money to spend. Called having the freedom to spend more there.
5. Tax
One of the biggest burdens for working people is paying taxes. Saving taxes are as simple as finding a deductible, which consists of Interest, home loan, donations, life insurance, etc. Importantly, do not forget to invest in long-term mutual funds. Because in addition to the tax deduction There is also a chance that investment will grow.
6. Before the wedding
All the people at one point were ready. Would definitely think of creating a family But listen this way first Before you marry You should plan your financial future for up to 10 years and separate your funds into multiple accounts based on the purpose of each type of money being used. To build stability for yourself and your family to be able to live comfortably. And to create the readiness to support the little one.
7. Make a vehicle plan
If you plan to buy that car We have a way to plan your finances. By calculating the cost of purchasing a car should not exceed 15% of household income. In order not to cause a lack of financial liquidity. The financing plan to buy a house is to choose the project with the lowest cost. Loan to the least And pay by installments as soon as possible Because real estate interest is calculated from the principal amount. The less the principal is lower Interest is even lower.
8. For the future of children
When having children, we have to modify our money plans for the little ones. According to the survey, the average cost of childbirth And child support per month Which such expenses can be managed by collecting money starting from pregnancy And manage money carefully The calculation of the cost of education To calculate from current and future currency. By taking into account the average annual inflation rate (about 5%).
9. Prepare for retirement
The following plans cannot be overlooked any longer. For retirement plans All of this is a way to manage money that everyone can eat and spend in the future. Calculate how much money you should have in retirement by dividing 1 divided by 10 times your current age. And multiply the income for the whole year If you have less savings than calculated You should keep a larger portion of your money. Therefore will be enough to spend in the future.
10. Remember
You should set aside your money for emergency expenses. And set aside for building collateral When the two parts are divided. The remaining money can be invested. Which type of investment These range from stocks, bonds, mutual funds, and deposits, investors are advised to study the information carefully before investing. In order for investment to grow And reduce the damage in the event that the investment does not go in the expected direction.
