YOGYAKARTA 'Seizing some income for investment is not an easy matter. A number of needs and the desire to buy certain goods make monthly income just evaporate. If it continues like that, there may not be an opportunity for you to invest. Summarized from various sources, to avoid these things, pay attention to tips on managing salaries so that you can invest below.
Making a budget plan and determining the priority scale is important in managing monthly income. The reason is, by determining the priority scale, after receiving your wages you will be forced to choose and sort out monthly needs and determine which one should come first.
These tips may find it difficult to implement for the first time, but if you're used to it, you'll have enough money to invest after saving expenses from unnecessary things.
Well, the first thing you can do to determine the priority scale is to know the financial conditions you have. That way, you can estimate about how much to spend for your needs and how much to set aside for other needs. One of them is for investment.
Various kinds of promos, ranging from cashback to discount, are an interesting offer to miss. However, if you are tempted by the promo, you will become more wasteful and fail to set aside money for investment.
Therefore, self-control to keep using money according to the priority scale that has been made. Do not let the plan to set aside all income to invest so that it changes because you are tempted by promos.
Currently, branded goods are very popular. Usually, someone buys branded goods in order to fulfill their prestige and follow a lifestyle. It would be better if you could use them to add savings and buy the goods that we really need. Not because of trends, especially because of prestige. It should be realized that the development of trends and prestige will never end if it continues to be followed.
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Tips for managing salaries so that you can invest the next is to apply the 50-30-20 formula. This formula is easily applied by everyone and is effective in managing finances so as not to be wasteful.
The 50-30-20 formula means allocating 50 percent of monthly salaries for basic needs, 30 percent for personal needs and the remaining 20 percent for savings or investment.
To be more optimal, you can apply 50 percent for basic needs with a priority scale that you have previously determined. Generally, the funds allocated for basic needs are used to buy foodstuffs, toiletries, electricity, medicines, transportation, and so on.
Next, 30 percent for wishes, generally used for entertainment needs or desired things. Such as self-rewards in the form of new clothes, electronic goods that have become targeted, traveling, staycation, or any expenditure other than basic monthly needs.
Meanwhile, 20 percent for investment savings can be used to deal with unexpected situations. In addition, you can also optimize this fund in order to achieve financial freedom in the future.
That's the information about tips on managing salaries so that you can invest. Hopefully this article can add insight to the loyal readers of VOI.ID.
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