If you are a single and still have an income below the minimum average worker, managing finances needs to be careful amidst the many financial distractions, including large discounts on the products you want or promising cashback and you can also invest even though your income is below the minimum. Let’s see how to keep your finances stable in the future!
1. Saving money needs to
be a habit Why should saving money be a habit? Frugality is a good thing to apply, frugality does not mean you have to be stingy with yourself by reducing food or other basic things, but you must be able to distinguish between needs and desires. Frugality is one of the keys to success in managing finances by limiting consumptive behavior and reducing the hobby of shopping for items that you don’t need or items that only become collections and are not useful.
2. Account Savings and Account Needs The
important point that can be made two things to manage finances is to separate your accounts, for example you have a payroll savings account for your salary every month you must also have an account that you can later transfer part of it to your savings. It also makes it easier for you to manage the money that goes in and out of your account.
3. Counting income and expenses every month
There are many financial recording applications that you can get on your cellphone, you can try some applications that might help you in recording finances. Recording the main basics is how much your income and how much your expenses are for example for basic needs, food, fuel or travel accommodation seems simple but it can affect and have a big impact on your finances because from the main basics you can design every activity that will be your expense.
4. Budgeting
The minimum income can be managed properly so that it is enough for everyday and can save is to apply the budgeting method. Prioritize things that are basic and put aside activities that are consumptive and not too important such as buying collectibles or unlimited items that are only temporary. For basic things, you can save by cooking without having to eat at restaurants which may be more expensive than buying the food itself.
5. Evaluation every month
Evaluation may be an activity that you are less interested in because it takes up your time and maybe you will be burdened because you think about your expenses that are still chaotic but there is nothing wrong if you try to evaluate from the financial application that you have you can see the limits of your ability to manage finances and you can see the results of finances in that month whether finances are smooth or getting worse.
Minimum income does not necessarily make you not save and have savings, you must have the mindset that regardless of your income if finances are managed properly you will enjoy maximum results. Hope this is useful.
