Beauties, being a smart woman managing finances is sometimes not easy to start with. It takes a lot of planning that will not make finances chaotic.
Based on Prudential’s 2014-2015 Financial Experience & Behaviors Among Women Study and Fidelity’s 2015 Investments Money FIT Women Study survey, it was revealed that 67 percent of women cannot consistently save or plan.
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This financial planning includes current needs, where needs that have a maturity within the next year, for example monthly installments and daily needs. Then, there are also future needs which include children’s schooling needs at the next level and retirement needs.
Summarized from the official website of the Financial Services Authority (OJK), here are some tricks so you can become a smart woman in managing finances.
4 Strategies that Can Be Implemented to Smartly Manage Finances
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1. Recognize Financial Conditions
Beginning with making a budget of needs and a list of income and expenses. You can make a budget for mandatory needs first, such as monthly money for food, transportation, school, and installments.
2. Create an Asset List
Making a list of assets and savings is also important, beauties. This is done if assets such as houses and jewelery will be sold in the future, they still have a large potential value as well.
3. Check Total Assets
Check the total assets owned whether they are still greater than the amount owed, such as money loans or goods credit.
4. Determine Needs and Desires
You can determine your needs and desires with a priority scale. For example, if you want to buy something, you must have a deadline to save.
3 Ways to Save
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So, Beauties, if you have trouble saving, you can do these 3 ways:
1. Get creative with IDR 5,000
If you have IDR 5,000 leftover change, don’t forget to get creative by saving money in a jar. You can also use any denomination of money that you can afford.
Later at the end of the month, you can save the money in the jar to the bank or for investment capital. So, for a month, don’t spend your jar of money, OK, Beauties.
2. Look for Business Opportunities
Looking for other business opportunities such as selling online can increase your income and you can also manage it from home. Currently, there are various types of businesses that you can try, from becoming a reseller, opening an online shop, to becoming a content creator.
3. Investment
Another way you can do to become a smart woman in managing your finances is by investing, whether it’s in mutual funds, gold, or stocks. Investment is very useful for guaranteeing the future.
3 Things to Watch Out For Healthier Finances
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To make your finances healthier, you need to pay attention to these 3 things:
1. Limiting Expenses
Limit daily expenses by summarizing all daily expenses so you can determine the maximum limit of money to be spent each day.
2. Make a Grocery List
By making a shopping list, you can have limits when shopping. Make sure you are also not tempted by other items besides those on your shopping list.
3, Dealing with discounted goods
Not infrequently, you must be tempted to buy discounted items, it seems that all women are like that when they see discounts. It would be better if you could refrain from buying discounted items that don’t suit your needs.
That’s a secret that you can apply to become a financially savvy woman in order to achieve healthy finances. Good luck, beauties!
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