HL: freepik.com
One of them is avoiding debt.
7 Februari 2024 19:45
Brilio.net - To become rich does not only depend on your income but how you manage your finances well. When you have the ability to manage (manage) money well, anyone can achieve their own financial goals. So, when you earn income, you should immediately manage it so you don't waste money at the end of the month.
Managing IDR 2 million rupiah monthly money so that it is enough to meet daily needs does have its own challenges. But it's not impossible, even with IDR 2 million you can save. One of the keys to managing Rp. 2 million rupiah in monthly money is to create a realistic budget and be disciplined in implementing it.
When managing finances, you will regulate how and what the money is spent on. For example, you make a food budget for a month. By making a budget, you can control your expenses, avoid debt, and set aside money for savings or investments.
Apart from making a budget, there are several other tips we can use to manage the monthly IDR 2 million, such as paying bills on time, dividing the money per week, recording expenses, and looking for additional sources of income. So, so that you understand better how to manage 2 million monthly money. Read this article until the end.
The following is a complete review of how to manage IDR 2 million monthly money, so you don't have to worry at the end of the month, brilio.net reported from various sources on Tuesday (6/2).
How to manage IDR 2 million monthly money .
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1. Make a budget of income and expenses every month.
Setting a monthly budget is very important, when your salary comes in, don't rush to spend it but set a budget for basic needs.
After setting a monthly budget, record every expense you incur. The goal is to make it easier to control and evaluate unnecessary expenses at the end of the month.
2. Determine the budgeting method.
Determining the appropriate salary allocation of IDR 2 million is one way to manage your finances so you don't waste money at the end of the month. For example, you can use the 60/20/20 system to allocate monthly money. This means that 60% of the monthly money is used for basic needs, such as food, transportation, bills and installments.
Furthermore, 20% of the monthly money is allocated for savings or investments, such as deposits, mutual funds or gold. The remaining 20% of your monthly money can be used for other needs or even desires, such as entertainment, shopping or alms.
3. Determine spending priorities.
Not only record budgeting but determine your financial priorities based on the most urgent things. For example, paying debt installments is a priority over buying branded goods. So, determine your financial priorities, don't just buy this or that without calculating. Focus on the financial goals you want to achieve.
4. Record the salary expenditure items of IDR 2 million.
Next, how to manage the monthly IDR 2 million by keeping detailed financial records. Make sure to record the amount of income and expenses in one month. Arrange them in a financial report to make it easier to check your financial condition. That way, it will be easier to analyze which parts have leaked so that it is easier to control your emotions when spending the money you have.
5. Look for additional sources of income that suit your abilities and interests.
Instead of complaining that your financial condition is not enough to support you, you should look for other sources of income. It's not easy but it's not impossible, if you try your best you can earn income from side jobs. For example, if you like video editing, try taking advantage of your interest by opening an editing service. Apart from that, you can also sell online, such as selling contemporary clothes, accessories and various other things that can be traded.
Mistakes that are often made in managing IDR 2 million monthly money.
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Managing finances is an important skill to have, both for personal and business purposes. By managing your finances well, you can achieve your goal of financial freedom. However, many people often make mistakes in managing their finances. This series of mistakes can have a negative impact on your financial condition. Some examples of financial management mistakes that often occur, and how to overcome them:
1. Not making a budget.
A budget is a spending plan made based on income and priority needs. Without a budget, you could spend money carelessly, without considering your financial capabilities and goals. To overcome this error, you must create a realistic budget and be disciplined in implementing it.
2. Not setting aside money for an emergency fund.
Emergency funds are an important factor in a person's life. Where money is saved to deal with emergency situations, such as job loss, illness or accident. Without an emergency fund, you may be forced to take on debt or even be forced to sacrifice savings or investments to cover urgent needs. It's best to set aside an emergency fund at the beginning of your paycheck, at least three to six months' worth of expenses.
3. Implement consumer behavior patterns.
The most fatal mistake in managing Rp. 2 million in monthly money is having a consumptive behavior pattern. Consumptive behavior patterns are the habit of spending money on things that are not important. For example, buying luxury goods, subscribing to streaming services, or even eating often at expensive restaurants.
Consumer behavior patterns can make you wasteful, unable to save, and worst of all, you can be trapped in debt. To overcome this mistake, you must change your mindset and behavior, and focus on needs, not temporary desires.
4. Not investing.
Investments are made after your financial condition begins to stabilize. This means that after all basic needs have been met, savings are safe, and various other important things have been implemented, then start investing. Investment is one way to make more money. But remember, you have to understand these investment instruments. If you don't really understand it, try looking for an investment with the lowest risk, for example a money market mutual fund investment. Remember! Don't just invest.
5. Not paying bills on time.
It's trivial but it has an impact on your life. If you have installments, no matter how small, you should pay them on time. For example, to meet your living needs you have to meet electricity, water, internet bills, car installments, and so on. If you are late in paying, you could be subject to a fine that means you have to pay twice as much. Of course, this will add an even greater financial burden to you. Therefore, you need to set a bill payment schedule, and take advantage of the autodebit payment facility so you don't forget to pay routine bills.
Disclaimer: This translation from Bahasa Indonesia to English has been generated by Artificial Intelligence.
