Financial problems are the most common cause of stress. Usually, these problems occur due to an unstable financial situation. Financial management is not easy to do. Therefore, here are 6 self-reflections on your financial state, perfect to help you manage your day-to-day finances more easily, for a secure future.
Life is not All About Following Trends
When we see our friend buying the newest smartphone or branded bag worth millions of rupiahs, we begin to feel envious. If you’re overpowered by this feeling, you will begin to follow the thirst of buying unnecessary things. Surely this failure will become a huge hole in your financial state.
It’s time to reevaluate your habits. Have you suppressed this extravagant desire? Don’t let trends become the standard of your daily expenses because trends will come and go just as fast as fire.
Save Your Money
Suppressing the carnal desire to spend money also means that you have to be ready in setting a healthy budget. One way to do it is by routinely saving your money. There are still lots of people who follow their desire and only deposit the remaining money into their savings at the end of the month. More often than not, they have run out of money before the end of the month.
To avoid this, you can set aside 10%-30% of your income to your savings as soon as you receive your salary. Next, if you receive a raise or THR, save 50% of the money. It’s important to remember that if your income increases, you will have to increase your savings as well.
Start a Side Job
Ever feel like your monthly income is simply not enough? Don’t make any rash decisions. As humans, we need a down time to relax and reevaluate the things that we have worked on. Has it suited our best ability? Have we maximized our potential?
This can also be a great self-reflection for you to decide what kind of job that you want to do in the future. Perhaps you want to change a company, get a promotion, or start a new side job. Whatever the choice may be, it’s completely in your hands. Just make sure that you are ready with all the consequences.
Make a Monthly Budget
A healthy financial state cannot be separated from a well-adjusted monthly budget. If you still don’t have a monthly budget, the process can begin now. Yes, life is not just all about the good times; it requires careful planning to make sure that our present is as secure as our future. Check your routine expenses in the previous months to help you set your monthly budget.
As a reference, you can portion 50% of your income for primary needs, 20% for tertiary needs, and 30% for savings and investments.
Start an Investment As Early As Possible
Amati lalanguan condemns humans to waste their money on extravagant and unnecessary things. This means that the money you receive must be well managed to secure your future. Apart from savings, protect your financial state from now on with investments.
Even though investments have bigger risks than conventional savings, the return that you can get is far better. There are many types of investments, from short-term investments like the lower-risk mutual funds and obligations to stocks for long-term investments with the highest return.
Evolve Yourself and Do Charity
It’s time for your body and soul to rest and reflect on your achievements during the past year. Are they as good as you have hoped for? If the answer is no, then it’s a sign that you need to evolve into becoming a better version of yourself. Make time to start a charity. It can be in many forms, from adapting a green lifestyle to donating money.
Whatever it is your financial state needs, do these 6 self-reflections as directed above. For your daily financial activities, from savings, paying bills, to investments, you can use PermataMobile X, a trusted mobile banking app. Download now at Google Play or App Store and enjoy the many banking facilities available whenever and wherever you need it. Click here to know more about PermataMobile X.
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