Yes, I would like to encourage and motivate young and productive girls to start early to learn how to manage your money.
I am not a financial consultant. But I used to be in a big debts of credit card. I used to be in a situation where I lost my job and have no income. So, learnt from there, I hope more girls responsible with their current finance situation. It’s never to late. Just be discipline and committed with what you earn and what you spend. The key is, be responsible with your life and future.
Your job, business and position is not forever. Always prepared for the worst to come!!
Here is a simple things you must do from the first income you get:
1. Prepare your pension saving asap and don’t wait
yes, don’t wait. Start from your first salary, put aside 20% of your income for this. Don’t bank it, but invest it. There are many way to invest, it depends on your character. The easy and simple thing is to buy a REKSADANA . Nowadays there are some Banks that has this facility. Example: Bank of Commonwealth.
2. Never owe money bigger than your income. Maximum is 50%.
The offer from credit card company is a big temptation for girls. Remember, it wasn’t a fresh money. You borrowed it. Means, you need to give it back with the interest.
So use your credit card wisely!
3. Never pay the minimum. Pay full of your credit card bills.
You hear that?. Remember the rules no.2. Only borrow or spend half of your income for credit card.
Keep in mind, credit card is a card for urgent things only. Your clothes and lifestyle is not urgent. They can wait for you to buy it. Their stores will not move in one night:-)
4. Buy it when you get a good deal.
There are some special events every year in the shopping mall. You can use this moments to buy your needs. Remember, what you need is not always what you need. So be wise.
Start to buy a life or healthy insurance early.
We never know how long we can stay healthy. In case, suddenly we find an issue with our health, the medical procedures will be supported by our insurance.
5. Have fun with your life, but never out of your limit. Stay in control.
I don’t ask you to be a stingy person. Treat yourself and the people you love, enjoy your money. But make a priority and keep yourself creative to find an interesting holiday or activities.
6. Last but not least, spend 2.5% of your income to help people who in needs
I would call this a wheel law. Yes, when you help people, you will get them back. Even more!.
Those are my simple rules in managing our income:-)
I hope it helps you to start soon:-)