Graduated from school is not the end of your journey. It is the start of a real world. I know some of you maybe just so excited to start working. Imagine that you earn your own money and spend it. You will think that you are an adult now.
Now, I have a question.
1. How long have you been working?
2. How much money in your bank account that you have?
As a girl that already work for a year, sometimes I wonder where my money go. I realised it, when I need to report my taxes to the government. Did you see the amount of earning for a year? Some of you maybe surprised that actually you have a lot of money. But you cannot see it in your pocket. Where all the money gone?
I love shopping. Don't ever mention it. I have interest in skincare, make up and shoes. I usually spend a lot of money there. I watched youtube and read a blog a lot and start to buy a lot of stuff. If you see my skincare product, most of them are Korea or Japan product, which is more expensive than local brand. I don't say that you cannot buy anything, because obviously I cannot do that. But, let's start to plan our money.
What you need to do?
1. Make a plan. Where you want to put your money.
Your money need to go for fixed expense, saving/investment and daily expense. Start make a plan how much it takes for each area.
Please write all your plan.
In my case, my monthly expenses are:
a. Housing: 10%
b. Investment: 16%
c. Zakat, shadaqah: 7%
d. Saving: 30%
Since we still single, my advice is to save your money as much as possible.
2. Make an Objection for your saving
I have a dream to travel in Europe for a month before 27. That need a lot of money. So I work hard to save my money and pursue my dream!!
3. Make an emergency fund
It need 3 times of your monthly expense. Put in bank or gold that you can take it whenever you need it. The important thing, it need to be something that easy to liquidate. We need emergency fund to expecting the unexpected. For example when you sick, or fired from work.
4. Handle your urgency for shopping.
Hold until a week before you buy something. If you want it, wait for two weeks, usually you will forget that you want to buy it. It just an impulse buying.
Ask yourself whether you need it or not.
Don't buy a lot of cheap stuff that need to be changed every 2 months!
5. Discipline to write down all your expenses in a week or month.
You will see that your money used for something that is not important. I use app Monny for iPhone. It has a cute design for you to record all your expenses. Evaluate your expenses after a month and make a plan to save more money.
6. Don't give up and keep trying.
I know habit is not something that easy to change. So we usually failed to keep on track with our plan. But keep doing it! If you failed to record your expense for a day, than you just need to write it on the next day. As long as you persistent, you will see a good result at the end.
My advice for my self:
Use your money wisely. Spending all of money in clothes and make up will not give you a long term advantages. Use it for book, investment, and experience will enrich your knowledge and make you satisfied with yourself at the end.
Hope you guys enjoy reading. Keep fighting to achieve our dream!
