On average, young people who have graduated and just started working, will forget about saving and managing their finances.
You have to, right? I'm tired of studying, I don't want to start saving. Let's enjoy first, get revenge all the time.
But many do not know. The slower you start, the harder it is to save.
And when it has reached a certain stage, it is only until the feeling of regret is gone. We don't want you to be like that.
Well, this is mandatory knowledge that you should practice. Digest this partnership nicely.
#1: How much do you spend a month?
Before we start to save money or want to start the habit of saving, we need to know how much our monthly expenses.
So, we have to list down (make a list) what we need to spend, and how much is needed.
For example, eating, drinking, renting a house, paying for a car, fuel and so on.
It's better if we list it in an existing program like MS Money, or even the one I use using Google Sheets. So, you can list down the expenses and how much.
If you are not an IT person, list it down in a book, write with a pen or pencil.
If that is difficult to do, it means you do not have the willingness to start saving. So, the following steps are really hard to do.
After we make that list, we will see how much we spend a year.
#2: This is the first deposit we must have. What is it?
For example, how much cash savings do we need to cover if we are fired or laid off.
Have you ever asked yourself this question:
"How long can we survive without income from work, and use the savings before we get a new job?"
So, for me, I prefer to be able to spend money in a year.
For example, amount No. #1 was RM1,500 (last calculation for basic expenses). So in a year, there should be RM18,000. So, start aiming to make enough RM18,000.
Let's say, we force ourselves to save RM500 a month, a year is RM6,000 and 3 years is RM18,000. This thing, follow the ability of each.
If there is any intention to buy the 'will' of that time, forget it first. Focus on getting the RM18,000 savings first.
#3: Try not to upgrade existing commitments
In we want to get the No. #2, we have to restrain ourselves from upgrading our expenses. So, persevere so as not to be influenced by ads and others.
Keep on focus with your target. And the purpose of saving is to develop your habits.
Before buying something or upgrading something, first ask yourself this question:
"You've gone so far, it means you can withstand the upgrade for so long. So, can't you stand it anymore until you can reach your savings target, then just upgrade? ”
If you can't stand it very well, can you not stand it in a month or two? Then look back.
Sometimes after a month or two, what you want to buy now may be less important in the future. There is a possibility that you will not want to upgrade that thing.
#4: Small costs, never mind? Wait a minute
For example, if you subscribe to become a gym member, while you do not always go.
If it's RM150 a month, I've eaten up to RM1,800 a year.
Or a hobby that requires recurring costs, for example, every week you have to treat that hobby, then how much is a month? .. how much is a year?
So, not counting. But it has to be estimated. Unless you have a surplus of money, then that's up to you.
This is my story if we have a tight budget, and we find it very difficult to practice the culture of saving in our lives.
#5: Break down savings targets so it’s easy to reach
For example, we want to collect RM18,000 for a year's expenses. So, you have to collect in 3 years.
So, we set to save RM3,000 first. After that, RM6,000, then RM9,000, then RM12,000, then RM15,000, and finally RM18,000.
So, try it. Where do you know to succeed. Alhamdulillah, I practice these tips, I can also save a lot and start investing in real estate and ASB.
When we have a surplus, the habits that we develop will continue to exist in us and we have become accustomed to taking care of our finances.
So much for this time. Later I will share another tip.
"We are what we always do"
My last order:
"You are what you do over and over again"
So, if he wants to have savings, he has to make savings over and over again. Not fun shopping over and over again.
Now, you know what to do. Or still insist on the old reasons and habits?
In life, we always have a choice. What makes the difference is what you choose. Ni, we leave 100% to you. We can only give you advice.
Is this partnership beneficial? Please SHARE with your friends who have just graduated, so that they don't get caught up in nonsense.
Tags
BUSINESS & MONEY
