Stuff EBP Like – Working at a young age can sometimes be a fun phase for some people’s career journey. This is because at the age of 20-30 years, millennial generation workers have a relatively lower burden of needs than when they were married. That way, they can be more likely to enjoy income than workers who already have more dependents. Even so, on the other hand, this phase is a phase that can quite determine the career path in the next stage. Unfortunately, some millennial workers are complacent about enjoying these times too much. Financial planning stage often overlooked because they are already carried away in this atmosphere that is often considered pleasant.
For that, it is also necessary to think about a more mature financial planning pattern to make it easier for millennial workers to enter a more advanced phase of life. At least try to avoid the 5 bad habits below to manage income more wisely.
1. Not making a priority scale
Millennial workers often have an obsession to get certain things when they get a salary every month. Sometimes some of these desires seem less essential and are classified as tertiary needs or just for personal satisfaction. If these needs are always fulfilled, then it can eat a portion of the more important aspects, for example in the aspects of primary and secondary needs. Sometimes even plans to save for the future are missed.
2. Not having a clear and measurable future plan
One of the motivations for people to set a clear financial plan is when the person sets a future plan that they want to work on. Some millennial workers sometimes neglect to define this plan and then prepare all their needs, including financially. Or there are those who have already set a plan, but lack the enthusiasm to make it happen because they are too comfortable in the current conditions.
3. Not wise in determining expenses
Complaining at the end of the month may be a habit that we often encounter among workers, including those who are still young and not even many dependents. Actually, this is not only due to the nominal salary received, but also related to the unorganized habit of managing expenses. Some workers sometimes spend less wisely, especially right after the payday date.
4. Lazy to save
Young workers who have just earned their own personal income may also sink into the euphoria of enjoying the salary they earn. If it is too much, this worker used to spend most of his income without setting aside a part of it for future needs. Poor financial planning can also result in no residual monthly salary and no allocation for savings.
5. Not wise in taking credit
In certain situations, some people may feel they need credit to buy an item they feel is needed. Sometimes, some millennial workers can be less wise when they get the opportunity to borrow money, for example taking credit to fulfill a lifestyle that is too consumptive. Some of them even took various loan products from various parties to fulfill them.
The financial planning aspect is quite important for all groups, including millennial workers. In fact, these young workers need to think about income management in a more orderly manner to plan for the needs that will arise in the future.