Managing personal finances is very important for employees, especially in the 23-30 age group. The reason is that at this age you usually have no family other than yourself. This makes managing finances easier because you don’t have to think about other loved ones. Then what are the tips to manage finances correctly and properly? Check out the explanation below!
1. Maximize income
The first tip for managing finances is to maximize income. If you already have a main job, carefully manage the income that comes from it. If necessary, find a part-time job by starting an online business or freelancing in various agencies. Income will increase, okay?
2. Create a monthly financial plan
If you already have a main or part-time job, it means that you have an income every month. The next step you need to do is to create a monthly financial plan. Make sure the financial plan you create is no larger than the income you will receive to avoid the saying “a great pole is a pillar”.
3. Start the discipline of saving
The next tip for managing finances is to develop a good habit, which is saving. You can discipline this good habit by setting aside income at the beginning of the month. That means you don’t save any of the remaining money for a month. Because usually saving will not be in the foreground.
4. Create a priority scale
Having an income of your own can sometimes cause a person to behave extravagantly. It always seems to want to satisfy desires through purchases. It’s not a good habit. You can overcome this by creating a priority scale. Distinguish what is a need and what is just a want. You also don’t have to force a certain lifestyle if it doesn’t suit your financial situation.
5. Record expenses regularly
Aside from creating a spending plan, you also need to keep a record of all the expenses you make. By keeping a regular eye on your spending, you can know where your money is going. How you manage finances in this case can lead you to evaluate your financial statements as to whether they are in line with your spending plan or whether they are swelling.
6. Have a shadow of life in the future
As well as doing activities to help you learn how to be good with finances, it turns out that imagining or lucid dreaming can also help motivate you to be financially healthy. By imagining what kind of life you want in the future, you can make even better plans. Especially for your career path. This type of financial management stems from your desire for the ideal life you want to achieve. Then the power of this dream can be great enough to better influence your habits of dealing with finances.
7. Start investing
Investments also play an important role in showing a strong financial position. How you manage your finances by allocating funds to an investment vehicle can not only keep your financial situation well. Investing can also bring benefits, so your financial situation will improve over time. With a strong financial constitution, you will find it easier to live your ideal life without worries about the future.
8. Always prepare a financial budget
When you start finding ways to manage your finances that are easy for you to use, you can start creating a financial budget. This budget is needed as a reference for all your financial calculations. Starting with income, expenses, the need to invest, and access to health services. By paying attention to the financial budget as a means of managing finances, you can identify what aspects are needed and needed. This provision is useful for you not to spend money on things that are not required or not needed while making you more disciplined in prioritizing to manage financial conditions so that they always balance or even make a profit. This budget is also useful for determining how much you need to spend per month.
9. Avoid debt
Debt is one of the obstacles in deciding how to manage finances well. Because with debt, you have to set aside your income to use to pay bills each month. Finding a proper way to manage finances, will help you to settle all kinds of debts that you have. Solving these debts can be the first step in managing your strong finances in the future. You can use monies previously spent to pay bills for other useful things such as B. Invest or save. By allocating funds for future needs and avoiding states of debt, you can reduce the time it takes to find ways to manage your finances well and according to your personality.
10. Take care of your health
The last way to manage workers’ finances is to maintain health. Doing multiple jobs to maximize income is certainly a good thing. However, one should not work so hard that one forgets about one’s health. The reason for this is that if you get sick, you can expect to spend more money to see a doctor and buy medicines. So keep adjusting your diet and rest, yes!
Here are ten tips for managing your finances that you, as an employee aged 23 to 30, can apply. Whether you are single or have built up a household, you certainly cannot avoid financial transactions.