Stuff EBP Like – You don’t feel it, your struggle in pursuing your career has finally paid off. Maybe, you just got a job promotion? Or have you been entrusted with a side hustle that is quite profitable? Either way, your salary is getting bigger, right?
Instantly, the list of needs and daily necessities to personal desires was easy to realize. But, gradually, you are confused, where did the large amount of money go? Why are there no assets or funds left?
If you question this, you are clearly making financial mistakes in managing finances. Roughly, any mistake yes, what have you done?
1. Consumptive shopping habits
You must be familiar with the proverb that says ” bigger than a stake than a stake.” Ironically, this proverb actually describes the application of finance that often occurs in someone’s life when they get more income.
When the amount of salary increases, expenses also increase. Not solely because of primary necessities of life, but unnecessary consumer spending. As a result, the percentage of spending also increases without leaving any money for savings.
Create a budgeting system that sorts out the priority scale of spending in percentage terms. Then, make sure the amount of money to be saved is transferred directly to deposits, gold, or stock savings. New deh, spend money for shopping!
2. Financial security is neglected
Who is not excited when they get a sizable income? At least two to three times the UMR, it immediately makes you enthusiastic, right? However, this enthusiasm can make a person fall asleep to a lavish life.
As a result, when an incident or chronic illness afflicts oneself or a family member, the financial budget is threatened. The reason is, there is no financial security that maintains financial condition. As a term goes, money comes and goes.
Make sure you set aside money for registration and monthly insurance deposits or BPJS. Do you know? The amount of money you deposit will be useful at a later date. Not only for yourself but also for your entire family.
3. There is no emergency fund
As explained in point 2, financial security is very important for those of you who have received a large enough salary. However, financial security does not only focus on insurance, but rather the emergency fund budget .
Launching from Finansialku, an expert in financial planning named Melvin M. believes that savings for emergency funds should reach 6-12 x expenses, or 9-12 x special expenses for the sandwhich generation that supports the family.
In the budgeting process , make sure you go ahead of the process of setting aside money for emergency fund savings. If you are not used to saving, start small and gradually. But make sure you do it consistently for your future.
4. Delaying investment
As the saying goes, the neighboring grass looks much greener. It’s not strange, you are wondering, why can they buy assets ranging from cars to houses? Why do I, who have earned a large salary, still haven’t produced any assets?
That means, you are still in place. You only focus on the fun of the day, such as shopping consumptively. There hasn’t been the slightest act of paying attention to long-term happiness, like investing. Whether it’s lazy or afraid to try , huh?
After getting used to the budgeting system and making sure your finances are safe, make a capital gain investment , which is investing a certain amount of money to get more profit. But, make sure you learn the rules of the investment game first. For example, investing in the form of savings stocks or gold.
How about it? Ready to start managing your finances?