The right way to save for saving the base of the rich
The right way to save for saving the base of the rich
People who are used to living lavishly are definitely prone to financial problems. Because unexpected needs that are urgent cannot be met if you do not have savings. The amount of salary is not the main benchmark for saving, because it turns out that not a few people with big salaries actually have no savings at all. How to learn to save is not difficult to learn when you are determined to do it early.
Now, let's first look at the following easy saving tips so that you are more proficient in saving and saving money quickly increases:
Always be careful when shopping
The right way to save should start from frugality. It is undeniable that primary needs often make a person tend to be wasteful. That's why you need to shop carefully. Take the time to compare the cheapest deals in several supermarkets and online stores. You can also shop at the traditional market to get the cheapest price. The main needs for yourself and your family will be fulfilled without draining the contents of the bag.
Cutting less important expenses
Modern lifestyle that is consumptive, vulnerable makes it difficult for someone to save. In fact, the latte factor also affects financial condition. Latte factor is a term to refer to small expenses that are underestimated but carried out continuously to cause expenses to swell, for example buying food via online motorcycle taxi delivery services, snack drinks every day, or often shopping online based only on momentary desires. From now on, you have to be more diligent in cutting expenses that are not important so that the rest of the money to be saved becomes more and more. Look for lifestyle and entertainment alternatives that are simpler and more economical so as not to cause financial burdens to increase.
Setting Up A Special Account
If the money in your account always makes you tempted to be wasteful, then you should set up a special account. Use your new account to set aside monthly income. If necessary, you can take advantage of the term savings system that autodebets every month so that the amount of savings always increases with the same nominal. After your income has been set aside to increase savings, you can use the remaining money to meet various needs and pay off obligations (installments and bills) until the end of the month.
Participate in social gathering
Arisan turns out to be one way of saving that is very easy and can be done by anyone. You can follow the social gathering with the amount of hundreds of thousands of dollars if you want to set aside money on a regular basis. The more members of the social gathering, the greater the money you can get in one social gathering period. You can take arisan first if you want to use it for investment or hold it until the end of the period as savings.
Emergency Fund and Sinking Fund
Emergency funds and sinking funds are both important for maintaining your financial stability, but they have different meanings. Emergency funds are collected to anticipate sudden and urgent events, for example if you are suddenly fired, a family member is seriously ill, or dies. You cannot predict the purpose of an emergency fund that is collected on a regular basis. Instead, sinking funds are synonymous with specific goals. You try to save within a certain period of time in order to realize the plan smoothly so that the preparation of funds does not interfere with your savings or other investment assets, such as the cost of servicing a personal vehicle, traveling budget, wedding costs (for singles), or children's education costs.
Regarding Emergency funds or emergency funds, sometimes sudden and urgent events cannot be overcome from the results of saving. The risk of unpredictable accidents as well as the amount of funds it requires, can exceed the emergency fund savings.
Maybe friends include those who still believe in the old saying, such as” saving the base of the rich “and”saving to be lucky and not crippled". Believe it or not, these two sayings are still true today. However, nowadays it is not just about saving money in the bank, but much more than that. Because if all you rely on is that, especially in the present, friends are just stuck on a ‘financially survive’ strategy not for the future. Here are some tips on what Gen-Z can do.
1. Investing in capital markets
One of the saving tips to become rich in the future that you can try is to invest in the capital market. Sounds complicated? Not really, as long as you know how and are willing to keep learning. Some types of investments that you can try are foreign exchange, stocks, gold investments, deposits, or mutual funds (the latter you can try if you feel your friends ' income is not big enough to try other options)
2. Use saved money to buy assets whose sale value can be higher than when purchased
If your friends ' income is more than enough, it's time for you to use your savings to buy assets whose selling value can be higher than when they are sold. for example, land or buildings (houses). Especially in urban areas, the value of land and property is always increasing every year, friends can also buy gold bars that can be sold when the price rises later.
3. Diversify investments in several different headings
At first glance, these saving tips for getting rich in the future Remind Friends of the saying “Don't collect all your eggs in one basket”. Rather than risk losing all your money, don't keep it in one and the same place. There may be fixed tube friends, while the rest can be friends can use for investment or insurance costs. Let's just say what you do is prepare a reserve fund for emergency conditions.
4. Don't wait until you're old to invest
When should you start investing? Now. Even if it could be from yesterday. Do not wait until you are old to invest, because as early as possible is much better. Love yourself and your family before it's too late.
5. Sparing lifestyle, but do not torture yourself
This is one of the saving tips to become rich in the future that still applies, although it does not mean that friends have to be stingy with themselves. Saving desperately every day by buying and eating instant food that is cheap but not nutritious is not recommended. Instead of getting richer, friends can get sick and even have to pay expensive costs to doctors and medicines.
The right way to save for saving the base of the rich
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