Ways to Get Accustomed to Discipline Organizing Finance From a Young Age

Managing finance well is one thing that is quite difficult for some people. You may often hear many people have difficulty managing their finances. Until finally their income is not enough to cover all expenses each month. Instead of wanting to be able to save, what you get actually owes.

One of the reasons a person cannot manage his finances is because they are not used to it. The term can be because accustomed might be true, especially for financial management. Getting used to being disciplined in finance needs to be done from a young age. With that, you won’t feel dizzy in case you experience financial difficulties.

What do you have to do to get used to financial discipline since young? Come on, check the following review.

1. Determine your financial targets
Even though you are young, you can set your own financial targets. No need to be grandiose to target a big thing. You can start by getting used to saving and not easily spending money. Small things like buying funny things that you want must be reduced. This will shape your habits to save money.
 
2. Create an expense journal
You may often feel confused because your money disappears quickly without knowing where they are going. This is a serious problem and will be a bigger problem if you are constantly not careful about spending. To anticipate this, try creating a journal of personal expenses. This will help you understand every detail of the money you spend.

Armed with an expense journal, you can practice being responsible for what you spend. No matter how small you spend or no matter how much money you use, you are the person responsible for that. It becomes good when you realize that a lot of expenses are not important that you have to reduce.

3. Do not waver
By writing down financial targets and also making personal expenditure journals, maybe some of your friends don’t give appreciation. But, who cares? You have to stick to your stand. Don’t let your friends spoil the good habits you are living. If at any time they bother you with an invitation to have fun and spend money, you just have to reject them. Don’t let their bad habits influence you.

4. Get to know your weaknesses
If you want discipline in finance, you must recognize your weaknesses. It could be that your biggest weakness is shopping. So, you can use several ways to reduce your shopping desire. You can leave your debit or credit card at home while traveling. This will reduce your desire to buy things you don’t need.

In addition, it would be better if you shop yourself instead of shopping with your friends. This will be very effective in reducing pressure from your peer group. Because, if you go to a self-service center with your friends, they will encourage you to shop again.

5. Whatever happens, keep saving
Even though you don’t have much income you have to make saving Read More

How to Manage Finance Smartly for the Future

Good habits about how to manage finances is one of the factors that determine your future. This is often ignored by most people for their own reasons. Though managing finance is very important to be done so that you can evaluate your finances every month.

Your financial condition in the future will be more planned and more focused with how to manage finances well from an early age. You don’t want it to be, if your finances are always overdrawn every month even though your salary or income is large.

Therefore, you need steps to avoid your income that is always overdrawn every month by practicing good financial management. Check out the following review.
How to Manage Finance with Good Habits
Your habits will determine your future, including habits related to financial management. Here are good habits for your brighter future:


1. Saving Discipline Every Month
Savings habits have been taught to their children from school age. This is not without reason, because by saving, your finances in the future will be guaranteed.
Many benefits that you will get by getting used to saving each month. Set aside money from your income of at least 10% – 30% every month to save at the bank.


2. Shopping Smartly
What is smart shopping?
Have you ever experienced an incident when shopping cannot resist high shopping appetite, which ultimately is not enough for your other needs even though the next payday is still long.
This is because your shopping is not for necessity, but for pursuing your wishes. Therefore you need to apply smart shopping habits by shopping only for your needs, not according to your wishes.


3. Record every income and expenditure
Regardless of income and expenses related to your finances, from now on record as evaluation material. Not only that, the record can be used as an important factor to make better changes.
By recording every income and expenditure, then you can see in detail your financial traffic regularly every month. You can judge for yourself whether you are extravagant or economical in terms of money.


4. Get used to Smart Savings
Savings do not mean limiting your space to do other positive things. However, smart saving is using money according to your needs every month.
How to smartly save money?
The most commonly used method is to record each of your routine needs every month and adjust the finances you spend to meet those needs. Make a withdrawal of your payday fund at the ATM according to the needs you have adjusted above.


5. Invest for the future
Investments that you can do with funds that are not too large or gold
By investing, you have profit assets for the future that you can use to meet future needs.


6. Record Other Cost Needs
You certainly will never know if later there will be unexpected expenses such as relatives or neighbors, mourning, family visits and others.
Therefore, enter other costs in your financial records to meet these unexpected needs.
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