Saving for years but no results? Perhaps this is the reason

Saving for years but no results? Perhaps this is the reason

Savings are becoming very important for future investments. Currently, many people are recognizing the importance of saving.

If you need a lot of money in the near future, savings can help you overcome these problems. If you are worried that something bad happened, you can save money at the bank.

But some people complained that they had saved five years while remaining empty. This is very disappointing, isn’t it?

You do not want to work for years, but your savings are still empty. If so, perhaps these are some of the reasons for your empty savings.

best saving accounts

1. Underestimate

Those of you who are single are especially easy to spend money without thinking about savings. Unlike when you are married and have other dependents, such as paying for a motorcycle, household needs, and others.

In fact, this should not be an excuse for those of you who are not married to not be able to save money on savings. There are many teenagers and single young women who have savings of up to tens of millions.

So, living alone without dependents, you are not making excuses for not being able to save, huh? This time you save money.

So that later, when you already have dependents, you can overcome them with the help of your savings. Well, don’t underestimate the importance of saving, because you still feel alone!

2. Being a familiman.

Well, the most common reason that arises is something like that. You work to support a family. The term as a family warrior. You get the whole salary, you immediately give it to the needs of the family. This is unacceptable, but something like this puts off your personal life. Your future, needs and small desires should also be realized. You need to manage your finances by putting aside some of your monthly salary in order to save. You can give the rest to your parents and pay for your sister’s education if you still have a sister. So, being the backbone of a family does not mean justifying itself so as not to save, huh?

3. Lack of personal motivation

Self-motivation is very important in providing quality of life. Having motivation will make your life brighter. Similarly with saving. You must have motivation to save. A simple example: in the next five years you have motivation for a private home. Then you again set the goal of motivation to have a personal car. In the next five years you will have a luxury car. Armed with this motivation, you will inspire your enthusiasm to save enough money to be able to buy your dream home and luxury car for five years. Therefore, you should increase motivation from now on.

4. Leaving aside the importance of conservation

We recommend that you set aside your mind or ignore the importance of conservation. Especially if you ever think that saving money just doesn’t work. This thinking is in the hearts of losers. I did not try, but dared to draw conclusions. You should always think positively. Thinking about your future, thanks to the accumulated savings, you can subsequently use it for urgent needs. Although there is a certain period of time, your money remains in the bank, but it will be much safer than your money, used without rules, and, as a rule, wasteful.

5. Not strong resistance to the temptation of shopping.

The number of temptations soon after receiving a monthly salary is one of the reasons why it is difficult to make savings. With thousands of reasons to keep spending money, this makes sense because the face value is only small. It is such small expenses that you find it difficult to realize. The next thing you know, your salary is spent until the end of the month. Moreover, when there are many discounts or a sale is conducted. This will increase your desire to shop. Even if you have to save money. Therefore, you should try to refrain from spending money and discourage your intention to save.

6. Save money by delay

Procrastination is a bad habit. If you want to save, it shouldn’t be in your life dictionary. A simple example: When you have money, you often say, “Oh, save the money tomorrow, and you’ll get the money, save next month.” Well, these things keep you from remembering. Actual savings should not be equal to large nominal sums, but actual savings are achieved if you leave a small amount of money traditionally large. As they say, less and less. The same goes for savings. Even if you save 10,000 rupees a day, that’s more than enough. Imagine that every 30 days, 10,000 IDR = 300,000 IDR per month, you can get 300,000 IDR. How about 12 months? Just provide 60,000 rand for regular savings. If you keep saving, sometimes you undervalue Rs 10,000, but that’s a lot of money. Savings are the future champion, and you don’t know what will happen within an hour. Now people are healthy and happy, and suddenly they get sick and need a lot of money. This is the salvation function, and you will be your hero when you need it. Therefore, do not raise your savings to zero, even if you have been working for five years. See the above reasons. Solve the problem as quickly as possible.

5 Tips To Keep Freelancers’ Finances Safe

5 Tips To Keep Freelancers’ Finances Safe

In this age of full digitization, many people choose freelancers. In addition to being able to work on a flexible schedule and in different places, self-employment expenses are paid on a project basis. Thus, they can simultaneously execute many projects and receive unlimited income. Sounds interesting, right?

However, after gaining these benefits, freelancers must face some risks. Start with uncertain income, lack of medical benefits and pensions. Individuals should have more mature financial plans because they face greater financial risks than long-term financial risks.

If you are one of many freelancers or just want to jump into this world, here are five tips you should carefully consider.

Keep track of how much you should spend each month

The first thing you need to do is record all your monthly routine expenses. They range from basic needs such as food, transportation, premium payments, personal items, investment needs and entertainment. When you get there, you can estimate the amount of budget that you need every month.

5 Tips To Keep Freelancers’ Finances Safe

Give monthly targeted income

As mentioned above, freelancers can have unlimited income. It all depends on the number of completed projects. For security reasons, it is recommended that you set a monthly target after accounting for monthly expenses. For example, your total monthly operating costs are 5,000,000 IDRs. Then at least you should produce a lot every month. Thus, at least you will not need money to meet your monthly needs. If income increases, you can set aside it for investment.

Adapt to an employment contract

Without an employment contract, the details of independent work are often unclear. Customer demand began so often that your business hours stopped and payments were delayed, so prices were not adjusted. To avoid these problems, employment contracts should be used every time the project is completed. This creates a written agreement that contains important information about your collaboration with your customers.

Do not forget about the emergency fund

This is often overlooked by independents. In fact, the financial risk of temporary workers is much higher. Although they have achieved their income goals, they sometimes perform fewer projects than the original ones. It also often happens that clients often pay their bills, therefore, only if you need to distribute 10% of the income from your emergency funds.

Take advantage of loans without a salary

Freelancers are people too. You must have encountered a situation that requires additional funding. Unfortunately, it is difficult for many independent people to apply for loans from lenders. Often, lenders provide potential borrowers with a payroll account. Customers with a monthly salary are considered more reliable because their income is stable, so there is little risk of a bad reputation. Freelancers themselves have no wages. As a solution, you can use a credit service, the terms of which can take the form of an account, which you use to receive monthly income. For example, an online loan from Kredivo.

Having decided to become independent, you will work all the time using these five methods. But you will also get rid of financial problems!