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An extravagant life will leave a person unprepared for an emergency. Salaries are phased out to meet wants, not needs. As a result, you will not have enough savings in case of an emergency. For example, a sudden illness, an accident, a natural disaster, or home damage. Because of this, it is very important to end a lavish life.


Managing finances requires a struggle and everyone has their way of doing it. Essentially, live lavishly so that future financial security is securely in hand. Usually, when you live lavishly, you will always feel deficient. The following is a summary for managing finances so they are not wasteful.

21 ways to manage household finances without being wasteful


  1. Save salary regularly

Make sure you save after payday. Set aside 10% or more of your salary for emergency use. This is done so that you have enough savings in the future. You must have passion and a strong reason to put that salary aside each month so you can keep increasing your savings.

For those of you who have a hard time saving on a bank or ATM card for fear of using it, getting a piggy bank is a good idea. This method is powerful enough to increase motivation to save. And you can open it up for the holidays or buy other necessities at the end of the year.


  1. Create a monthly shopping budget

This method is highly recommended to avoid a lavish lifestyle. Write down your budget for the next month. Write a detailed shopping list of what you want to buy and make sure you don’t miss anything. If you have other expenses that you need to pay for, these must also be included in the budget list.

Those of you who use this method can control where your salary goes in a month and determine which ones should be prioritized when spending money.

You don’t have to save in the classic ways that are boring and stressful. Of course, there are many other ways to make savings activities fun. Saving can be a culture that blends into our daily lives.


  1. Bring your lunch when traveling

For those of you looking to work in an office or plan to travel, there’s nothing wrong with bringing groceries from home. Home cooking not only saves money but also ensures that the food is clean, healthy, and nutritious.

Grocery shopping is sometimes quite a drain on the wallet. Not to mention that in a snack-loving environment you will be tempted to buy snacks after a substantial meal. Therefore, this can be circumvented by bringing food supplies from home. No need to be complicated, just prepare rice and simple side dishes and put them in the food box.


  1. Don’t be easily seduced

When you travel to a mall, it’s hard not to be tempted. Especially if you just received a salary. Of course, when you go to a mall or supermarket you will find many offers, either through brochures, catalogs, or social media. The key is not to be easily tempted by these offers. Remember, you must save money for a brighter future. Don’t be easily seduced by offers that are just salesman’s gimmicks.


  1. Buy needs, not wants

You must be able to distinguish between wants and needs. By knowing this difference, you avoid a lavish life. So, to buy goods or anything, you need to think carefully about how you spend money.

Don’t buy things out of emotion. You must be able to choose the item you wish to purchase, whether it is a need or a want. If the item is really necessary, then there is nothing wrong with buying it. Conversely, if the item is just a wish item, you should not buy it.

  1. Limit the use of credit cards

Credit cards sometimes unknowingly make you bust your pockets. Because it’s cashless, sometimes you can buy things you want.

Using credit cards makes shopping easier for users, but on the other hand, it can put your spending at risk. You can get stuck with a credit card bill that swells every month. Therefore, you should limit the use of your credit card to avoid lavish living.


  1. Forget prestige

Keep your life from prestige. Choose a good circle of friends, and avoid hedonic circles of friends. For example, when your friends are shopping, you need to hold back your prestige and save money so you don’t shop for unnecessary items and sell your unused items.

If other people are having lunch at the mall, you can get around this by bringing lunch from home. When friends go to high-class cafes or restaurants, there is no need to be jealous. Forgetting about prestige can save finances in the future and avoid a lavish life.


  1. Sell old items, buy new items

When you want to buy new stuff and your closet is too full, it never hurts to sell your old stuff. You can use the proceeds from the sale of old items to buy new items. For example, if you want to buy a new laptop with better specifications, you can top up the money from the sale of old ones. And make sure the laptop you’re selling is still worth selling.


  1. Avoid debt

Avoid debts to friends and loan installments. If you are already in debt, prioritize paying off the debt immediately and promise yourself that you will be out of debt. Live in moderation without the need for luxury and always be grateful.


  1. Not hanging out often

The proliferation of hangouts or cafes in the country’s wilderness is currently supporting an increasingly luxurious lifestyle. Sometimes it doesn’t feel right if you haven’t tasted the latest menu or coffee.

Once or twice you might not feel like spending the money, but over time you have to factor in the cost of posting fees. For coffee and snacks alone, hundreds of thousands can hang out at once.

If you can save money by cutting back on purchases or by reducing hanging out, your finances will be more secure and prosperous in the future.


  1. Don’t often buy food outside

Buying groceries or snacks outdoors or over the internet will also get you used to live extravagantly. You click on the application for a moment and then the expected food comes, then you unconsciously lose your money. The budget for buying groceries will swell.

The right solution is to save money by cooking at home or in your boarding house. Economical handling of finances is the basis for a rich future. Thrifty doesn’t mean stingy either.

Sometimes you can buy groceries online or eat out as long as it’s not too common. Also, you have goals that will be realized. You must be good at managing your finances. Let’s reduce the extravagant life from now on!


  1. Reduce the use of online transport

Using online transportation too much will also make your life more wasteful. Just calculate how much rupiah you need to spend at once. If the situation is urgent or you have an allocation of funds to use online transport, then this is not a problem.

Especially if your income is not high and you constantly use online transportation, your expenses will increase over time and the solution is to cut down and switch to other pocket-friendly transportation.


  1. Don’t smoke

Cigarettes are quite expensive for each pack. It’s impossible if a smoker only smokes once or twice a week. Cigarettes are known to contain substances that make people addicted or addicted. That’s why smokers are wasteful.

The difficulty of quitting smoking is currently experienced by almost all people. Especially cigarette addicts. But that doesn’t mean you can’t quit or at least reduce the intensity of smoking every day. This can save you cost. Quit smoking for your health and finances.


  1. Reduce shopping in malls

The mall is a popular shopping place highly appreciated by shopping enthusiasts. Various needs can be found in this one place. With the luxury on offer, people are not afraid to spend their money when visiting the mall.

Even if you don’t visit the mall every day, it does make you relatively extravagant. Especially if you make the mall a key place to buy essentials. In addition, several other habits make it extravagant, such as addiction to skin care products, the desire to always look stylish and modern, everything luxurious, and so on.

If you want to save money, quit those wasteful lifestyle habits and start looking for other better ways to save on expenses. It’s a good idea to create a budget for your monthly income and expenses.

Is it true that your salary is not enough, or is there something wrong with the management?

If you can manage your salary well, shopping and saving can go hand-in-hand without either falling by the wayside. In this book, you will find tips and tricks to avoid spending, prioritize, start investing, turn hobbies into income, and much more that will make you happy after shopping because there is money to save. Happy reading!


  1. Allocate emergency funds

Life is unpredictable, including financial problems. In order not to be confused by large sums of money in the event of an unexpected need, one way is to allocate an emergency fund.

It doesn’t have to be a large nominal value, because with this allocation you are already practicing sound financial management.

Try to increase the allocation of this emergency fund each month until it reaches a sufficient nominal amount for each month. The math is simple, at least three times your total living needs for a month. If you already have an emergency fund, your financial situation will continue to run smoothly even if problems suddenly arise.

  1. Check what you want to buy

During such a pandemic situation, many shopping centers such as malls and markets are closed. However, people are turning to online shopping. If you can’t control yourself well and are easily tempted by offers or discounts, then your finances may be unhealthy and your pockets may be screaming at the end of the month.

Control your shopping cravings and don’t spend money on short-term pleasures, but make sure you buy things based on your needs, not just wants, okay? So that you can avoid this extravagant life, you can then make budgets and notes as needed.

As long as the items you have are still decent and working well, avoid buying new items as much as possible lest your monthly expenses swell. While controlling this urge to shop isn’t easy, you need to be sure you’re achieving financial health and have a reserve for the future.


  1. Make a list of priorities

When meeting friends, quite a few of us find that our needs increase. Ranging from nice coffee sips with friends, to a trip to exotic tourist spots for social media needs, to a modern style for working or hanging out so it’s not considered dating.

Here you need to create a priority list. Which needs can be deferred or paid for in installments and which need to be issued immediately. For example, if you want to hang out, you can start saving money by avoiding fancy or expensive places. Choosing a place to stay can be in a convenient and inexpensive place, such as an office or a park.


  1. Diligent in hunting promos

Good news for those of you who like to search for promotions. During such a pandemic situation, many stores and online stores are offering massive promotions.

By taking advantage of this promotion, your expenses will be reduced, allowing you to save a few percent. Especially if the item you are looking for has a fantastic starting price, there is nothing wrong with taking advantage of this promotion.


  1. Use bonuses wisely

Performance bonuses, holiday pay (Thanksgiving/Christmas), and additional mailings from parents are always expected and are very helpful, especially for foreign children.

However, do not get carried away with using these funds unwisely. It’s best to refrain from that for a moment. Save this bonus to save or invest.

If you manage this bonus well, you can smile at the end of each month when other friends confide in their financial situation that have a hedonistic lifestyle.

In addition, make sure you use your monthly money sensibly in everyday life by putting 10% of your salary aside to strengthen the financial foundation for a better future.


  1. Pay less cashless

There is currently a trend towards cashless payments. In addition to paying with a debit or credit card, it is now also easier to pay by scanning a barcode on a mobile phone or it is automatically debited. This payment method makes it easier for everyone, especially those with high mobility, carrying cash is less secure and more convenient with cashless payments.

However, what you need to be aware of is that this lifestyle can get increasingly out of control over time and you are not disciplined in accounting. This lavish life will be felt when I suddenly control the dwindling material balance without knowing what it is for.


  1. Always use the principle of economy

If you are already used to living extravagantly, then now is the time to convince yourself to be disciplined and always apply the principle of frugality.

The principle of thrift must be carried out in a disciplined manner both at the beginning and at the end of the month. Financial management can be considered healthy when expenses do not exceed income. Of course, these conditions must be met while at the same time meeting all basic needs and saving or developing funds.

Like Chinese citizens who are known for their thrift, don’t use your money to splurge until you achieve healthy finances. This principle is good to follow. If you’re earning income, don’t hesitate to set aside something to save or invest. The commitment to continue being frugal and not wasting money is important.

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