Tips Saving Money Amid Turbulent Demonstrations And Uncertainty

JAKARTA - A wave of demonstrations that often occur in various Indonesian cities that not only test social and political resilience, but also make many people anxious about financial security.

The question is, where should we keep the money safe in the midst of a situation full of uncertainty? Here are some wise steps you can take, as reported by the CNN page.

1. Secure Work Early

The job market is still strong today, but conditions can change quickly if the turmoil gets more frequent. Always maintain stability by strengthening the main source of income.

"If you haven't worked yet, or want a better position, now is the right time to take advantage of a very strong work market," said Mari Adam, certified financial planner.

2. Prepare Short-Term Cash Funds

Having liquid reserves is key. Emergency funds, deposits, or mutual money market funds can cover the necessities of life when the crisis comes.

"Save at least a year of living expenses outside of the investment portfolio, and add 24-year short-term bonds to get through difficult times," said Rob Williams, Managing Director of financial planning for the Schwab Center for Financial Research.

3. Don't Panic because of the News

The news about rising prices or heated demonstrations is indeed worrying. But the financial decision made because of panic is actually dangerous.

"Doing drastic changes in the midst of uncertainty will usually only be regretted," said the Head of Investment for Liberty Wealth Advisors, Don Bennyhoff.

History shows that markets always have a way to recover. Calm down does not mean passive, but gives space for decisions to remain rational.

4. Stay Calm, Do Your Best, Then Sincere

Financial security is a matter of consistency and discipline. Let Adam say don't let feelings about the economy interfere with long-term plans. Keep investing and discipline. History proves that market predictions often miss.

"Complete facts, make the best decisions according to personal goals. After that, let go," said Adam.

We can't control the market, but we can control our own attitude.

5. Evaluation of Risk Tolerance

Do you prefer to be safe even if the results are small, or are you ready to face risks for the potential for large results?

"There are many definitions of risk. Money in savings is safe, but purchasing power can erode inflation. Sometimes, small returns but making sound sleep is more important," said Bennyhoff.

"In the long term, people are safer if their wealth can grow." he added.

There is no correct or wrong strategy, which is important in accordance with your goals and peace of mind.