5 Beginner Ways To Make Your Wishlist Come True

Seeing that our daily needs are increasing and the old items at home are no longer suitable for use, a desire drives us to shop. Finally, the wishlist items are piled up. Can we make it all happen on a budget? Of course, there is. With the right financial management tips, you can make your wish list come true! Pay close attention to the following method.

Financial Management Tips to Make All Your Wishlists Come True
If you need a strategy to make all your wish lists come true, try implementing the financial management tips below from now on:

Check Current Expenditure and Income Amounts
Checking your financial condition is the first step in developing a strategy to make your wish list come true. You can do this by comparing the income from your current salary or business with the costs you need each month for various purposes.

From here, you will find out how much money you have left after spending it or what makes your money run out quickly every month. Luckily, you don't need to track every income and expense manually because, now, most banking applications have an automatic budgeting feature! Checking the balance on your account has become even easier.

Use the 50:30:20 Budgeting Formula
If you already know how big the difference is between your monthly income and expenses, now is the time to start the budgeting process. You can try many methods, but the easiest one to apply for beginners is the 50:30:20 formula.

Simply put, you will allocate 50% of your total income for primary needs, 30% for secondary needs such as wishlist items, and the remaining 20% for emergency savings or investment funds. For example, if your monthly salary is IDR 5 million, here are the details of the budget using this formula:

• Basic necessity: 5 million * 50% = IDR 2.5 million/month;
• Self-reward: 5 million * 30% = IDR 1.5 million/month;
• Savings: 5 million * 20% = IDR 1 million/month.

Prioritize More Important Needs
Prioritize spending on primary needs first to realize your long-held desires without sacrificing important needs.
After receiving your salary, try to pay for rent, electricity, water, and internet. Apart from that, prioritize money to pay off outstanding debts (if any), food, cleaning products, and daily transportation to work. You need all these things to do your activities well. You can use the money for other things once everything is fulfilled.

Compile a Priority List for Wishlist
The budget is okay; what next? If you have more than one wishlist, fulfilling them all simultaneously with limited money may take a lot of work. You can make a priority order for each item first. Determine which wish list is most urgent to fulfill first for comfort at work or activities.

For example, if your current laptop needs to be updated and can't run important software for work as quickly as before, prioritize your funds to buy a new laptop on your wish list. After getting it, you can move on to the next item on your wish list.

Sell Items You No Longer Use
What if your monthly budget is stable but the remaining money is still insufficient to fulfill your wish list? Stay calm; you can find extra income from used goods around you. Apart from being a source of additional funds, selling used items that you have can also make your house feel more spacious.

For example, if you want to buy a new cosmetic product because the old shade doesn't match your skin tone, you can sell it as preloved on certain online platforms as long as it is still hygienic and in good condition. So, people who want these products can get them at cheaper prices.

Those are five financial management tips that you can try to make your piled-up wishlist come true! As long as you regularly budget and are disciplined within predetermined limits, this is not impossible. Apart from that, you can also consider additional sources of funds from profitable loans, such as PermataKTA from PermataBank!

Cash loans up to IDR 300 million with competitive interest starting from 0.88% flat per month, equivalent to the effective interest rate. You will immediately receive cash funds, disbursed in just 10 minutes, without going to the bank. All you need to do is apply online at PermataMobile X. So, what are you waiting for? Apply for a PermataKTA loan to achieve all your wishlists now!