Already married? Congratulations. There is a problem with the couple, such as not wanting to talk about the future and the family? For those of you who have just started a household, digest this article. It doesn’t matter if our partner works in the private sector or the government sector.
God found someone to complete us. If our partner is crazy about modified cars, his partner must be a wise financial manager. If our partner is crazy about buying clothes online, two -closet clothes but still complains that he doesn't want to wear clothes, his partner must have the power to control his finances.
So, what can we do to teach and give awareness to our spouses about financial management?
1. Teach Create Financial Goals
Good financial management involves short, medium and long term financial goals.
For starters, build the easiest goal to achieve. For example, the goal is to save RM600 in a month. So, istiqamah save RM20 every day. When achieved, this will inject a sense of enthusiasm to save even more.
Read also 10 Financial Goals for Young People Before Reaching the Age of 30
2. Teach Save Before Shopping
Teach him to save before shopping. For example, a salary of RM2000. Save RM200 ready. If it feels heavy, try to save RM100 a month.
If spending all income first and newer want to save, that can create chronic financial problems in the future.
Teach him to use this formula:
Income - Savings = Spending.
3. Teach To Delay Will
If he wants an iPhone, quickly call to prayer near his right ear. Remind him that PTPTN is still in arrears.
Teach him to have the habit of delay gratification which is to delay satisfaction. Look in the wallet, there's money. "Eh, can I spend more here". Let our money have a surplus of 5-6 hundred though, don't teach yourself to spend it.
Snooze for a moment. Save money for things that need more.
4. Teach To Spend Wisely
Teach him to make a monthly budget. Record all expenses. Shopping wisely can be done with
Compare prices.
Buy during promotions or at wholesale prices.
Make a list of items you want to buy, there is no need to commute two or three times to the supermarket or buy things that are not on the list.
5. Teach About Needs vs. Wants
Needs are the basis for life i.e. for food, drink, clothing, shelter, education and health.
The will, if no one can live. For example, want to use a luxury car, expensive phone, travel abroad or hang out at Setarbucks.
Many couples are still unable to differentiate between needs and wants.
6. Teach About Financial Risk
Financial risk is something that cannot be completely eliminated. For awareness of the importance of takaful and investment risks. About the dangers of credit card debt arrears.
Teach him to recognize the scams of get rich quick schemes and unlicensed MLMs. Explain about CCRIS. Explain the consequences of not paying the debt. What is bankruptcy and the effects of bankruptcy.
7. Teach About Investing Wisely
Teach him about low risk investments such as investing in ASB due to the fixed price unit of RM1. So, there will be no loss. Saving in Tabung Haji is also possible. In the Tabung Haji Act, it is clearly stated that the concept of savings in the Tabung Haji account is based on the concept of Wadi’ah Yad Dhamanah (guarantee -based savings)
.
If you want to succeed, always "starve yourself" and constantly hunt for useful knowledge. Because with knowledge, we can only shorten the time to achieve success and wealth.
If there is a seminar, go together. Take him once. Because not everyone is diligent to read books on financial management. The thing that was written also complained at length. So it is better to learn directly from the expertise of others.