7 Financial Tips That Are Suitable For Millennials

Solid funding can be done in the right way and with the best effort. Quite a few who have made great efforts to save this and that, but the financial situation is still stuck. Especially those who do not save at all, the financial situation is certainly not healthy.

Indeed, managing finances is not as simple as turning the palm of your hand. It takes hard work, effort and a little craft to prepare a budget each month. If you are lazy about budgeting, your financial statements will continue to empty at all times.

In order to manage your finances more easily, here are some financial tips that suit the lazy who can be practiced directly.

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1. Choose automatic savings

Saving is the most boring activity, especially for the lazy person. Not to mention saving money, accomplishing tasks and responsibilities takes a long time for intention to be awakened. In addition, high discipline is also necessary so that savings can be a routine every month.

But calm, now the lazy can save very easily. Of course, without having to waste a lot of time and energy, the way is to choose a savings system that is automatically connected to your debit card.

This type of savings will automatically deduct the contents of your debit card or your salary each month. The funds withheld will be automatically transferred to a savings account. So you no longer have to go to a bank or deposit cash at an ATM if you want to save.

2. Pay your bills online

Saving money that is elsewhere for the future is lazy, not to mention paying bills every month. He is certainly getting more and more lazy because of the great potential for income reduction. But calm, there is now an online bill payment system.

Thanks to an application, you can now pay all the invoices invoiced to you each month. Ranging from electricity, phone, internet, water, credit, insurance, credit card bills to multiple banks at once.

In addition to being easy and convenient, paying bills online is also very profitable because it allows you to recover money on each invoice paid in full. Cash back is what will later reduce paid bills, so that the fall becomes more effective.

3. Connect credit cards

So lazy if you have to go back and forth to open a mobile service or Internet banking to pay your bills? In addition to consuming time, your credit will also be reduced as they have to pay for SMS banking. Fortunately, there are now automatic payments with credit or debit cards.

Whenever payment is due, the invoice will immediately deduct the credit card limit or the debit card balance. To take advantage of this service, you must connect a credit or debit card to the online bill payment application.

Credit cards and debit cards must be verified with an online payment system. Otherwise, the card attachment in the application will be rejected and you must replace it with another card if you wish to continue.

4. Make an expense envelope

The expenditure envelopes have the same function and the same objective as an expenditure budget. But the difference is that the allocation using spending envelopes is much more thorough and intense. Because the money in the envelope was divided according to the type or item of each expense.

If an expenditure envelope runs out prematurely, there are two possibilities. First, because there is less money allocated to it. Second, because you cannot control the spending on the envelope, the content is used more quickly than the content of the other envelopes.

Before putting money in an envelope, first know the amount. Make sure the amount is really enough to fund each need for a month. As a result, the name of the lack of funds will not happen and will not happen to you.

5. Get passive “income” from the investment

You may be lazy to manage the finances right now, but don’t be lazy about that one thing. Yes, you can now get passive income in different ways without having to bother. A safe and appropriate way to try is investment.

Almost all investment vehicles earn you income. Especially if the amount invested in an instrument is large enough, it is certain that the income obtained will also adjust directly to the amount.

Investing in deposits and mutual funds is perfect for you who want passive income, but with a low level of risk. If you want higher income, investments like stocks may be the best choice. You can also make this investment online but always on an official investment platform. However, you must find out about the investment instruments that will be chosen later in order to be able to control your investment smoothly and safely.

6. Save money in a piggy bank

If you can control your urge to shop, your income will certainly be left out each month. You can deposit this money or save it in a special piggy bank.

Make sure the piggy bank is made of a hard material and not easily removable. Not without reason, a piggy bank like this will make it difficult for you to take its contents so that the money that entered the piggy bank cannot be recovered before the piggy bank is full.

Although saving money in a piggy bank seems out of date, but it doesn’t matter if you’re interested in trying it out. In addition, savings systems tend to be simple and practical. It suits your lazy little figure.

7. Part-time work

The higher the salary earned each month, the higher the amount spent. It is not separated due to the influence of lifestyle which increases with increasing wages. For additional income, try looking for work outside the main job in the office. For example, become a freelancer or sell online. You can do these two activities anywhere, at home or even at the cafe.

Changing lazy attitudes from simple things

Changing the lazy attitude in financial management doesn’t have to start with quick ways, because simple ways like the method above are powerful enough to change this lazy habit. The key is your will and your will to start the change. While the rest will be enough to continue from what was started first.

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.

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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!