You have to be smart in distinguishing between needs and wants.
28 Februari 2024 17:40
Brilio.net - Pocket money for young people has become part of the main priority. Apart from primary needs, snacks are part of daily expenses that need to be managed accordingly. The limited amount of pocket money and the difficulty of managing pocket money are the obstacles. The influence of lifestyle is a determining factor in how high a person's expenses will be. Economical ways of spending pocket money are the main key in managing personal finances.
The most frightening specter if we are careless in spending our pocket money is that our savings run out at the end of the month. There is no more money left, even though other needs are still urgent. Therefore, as young people we need to emulate the boarding house children. Boarding house children are able to survive with all their limitations because of measured management. Apart from that, in managing finances, boarding school children also take several important steps to save their pocket money.
There are several ways you can try to save money on pocket money. Reported by brilio.net from various sources, Tuesday (27/2), there are at least 7 economical ways to spend your pocket money that you can practice in managing your daily finances.
1. Create a measurable budget .
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You can arrange a financial budget according to your needs, either monthly, weekly or daily. What you need to note in your financial budget, such as how much income you earn each month? What are your primary needs (food, shelter, etc.)? How much money do you want to set aside for groceries, vehicles, transportation? How much money do you set aside for savings or an emergency fund?
So, from these points you can see your financial capabilities in a complex way. This is very important so that you can know how to save money when spending your pocket money.
2. Cook your own side dishes.
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One interesting tip that you can try next, to save pocket money, is to cook your own side dishes. If we always buy side dishes at food stalls or places to eat, the budget we spend will really drain our wallets. It would be better if we bought the ingredients we need to eat ourselves, then we cook them ourselves. Apart from saving money, cooking is a life skill that will be very useful in the future. You can take advantage of promotions or discounts at shopping centers, so that your budget for buying cooking needs is more economical.
3. Use public transportation and other facilities.
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The next economical way to spend your pocket money is to use public transportation or other supporting infrastructure. One of the expenses that takes up quite a large budget is vehicles, from fuel, maintenance, etc. Public transportation that you can try is buses, trains or online motorbike taxis. Apart from the cost factor, the benefit we get by using public transportation is better security. You can also use voucher codes at certain events organized by transportation business providers, to get more affordable prices.
4. Take the opportunity when there is a discount or promo offer.
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Boarding house children are most interested in things called discounts or promotions. This can happen because the discounts given can save their daily expenses. You can find discount offers or promos at shopping stores during certain festive days. For example, when the Eid holiday is approaching, or end of year flash sale promos. Apart from shopping centers, there are many discounts or promos offered by marketplaces at certain events. For example, the 3/3 promo on the 3rd of March, or on the marketplace's anniversary. The more voucher codes you get, the more your monthly expenses will be minimized.
5. Avoid buying items that are not very useful.
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The most important way to save money on pocket money is to avoid buying things that are not very useful. Often we want to buy things that look cute, attractive, trendy. But from a functional perspective, these items are less useful in the long term. If we no longer find an item interesting, we usually put it aside until it eventually piles up unused. Therefore, when buying goods, you must ensure that the goods have a functional side that is greater than the aesthetic factor.
6. Set aside money for savings or investment.
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Saving or investing are some other ways to help with future finances. Of all the money you spend, please set aside some of the money for savings. As the saying goes, "a little at a time, over time it becomes a hill", from just a few rupiah, in the future you can use it to meet urgent needs in the future. Apart from being a provision for the future, the savings can be your emergency fund when you suddenly need additional funds.
7. Avoid buying goods because of FOMO.
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FOMO is an abbreviation of Fear of Missing Out, aka the fear experienced because of missing a moment. Usually this phenomenon occurs when a trend regarding something appears in our daily environment. Where at that time, almost everyone around us bought or used these items. The tendency to want to follow most people often leads to being complacent and instead following in their footsteps. Moreover, these goods or needs are not included in the draft financial budget. If this happens then the victims are other needs whose budgets must be cut. In the end, because of the influence of FOMO, the items we buy are not very useful for our daily needs.
Those are 7 economical ways to spend pocket money like boarding school children. The key to thrift is the ability to resist various temptations. Of course, there will always be new desires to get something. But like a mirage, if we follow our desires and a high lifestyle, the victim is ourselves. To increase your income, you can also try several ideas to increase additional income. Hopefully this information is useful!
Intern: Zidan Muhammad Fajri
Disclaimer: This translation from Bahasa Indonesia to English has been generated by Artificial Intelligence.
