Proper Ways to Save Money - Want to save money but need clarification because you are still a beginner? Take it easy. There are many tips on how to save money for beginners.
Saving money is a challenging thing. But, always try to believe that "Saving is the beginning of wealth." From this term, you can conclude that to become wealthy, we must save and be wise in using money, one of which is by keeping!
Well, there's nothing wrong with those who want to start saving. Curious about how to save for beginners? Don't skip this article!
Read also: Want to Save More Money? Follow These Clever and Unique Ways!
10 Proper Ways to Save Money for Beginners
Remember! It's always possible to start saving. For those who want to keep, take advantage of this method!
1. Create a Savings Plan
The first and most important thing you should do is to make a savings plan. The purpose of making this plan is to give you a target or goal that you need to achieve. By having a saving plan, your consistency in saving will be higher!
Need help with how determining the plan? Don't worry! Whizmin has a way!
First, find out the desires you want to achieve, for example, buying a car, or a house, getting married, buying electronics, getting an education, and many more. Second, set a deadline on when you should achieve it. For example, you can buy a car in cash. Within a year.
Finally, commit yourself to make it all happen. Saving money can be challenging, but with a strong commitment, you will succeed!
2. Don't Confuse 'Setting Aside' and 'Leaving Behind'!
It would help to remember that 'setting aside' and 'leaving behind' are two different concepts. 'Setting aside' is done when you receive income and separate some money to save. On the other hand, the 'leaving behind' idea usually happens at the end.
If applied, the leaving behind the concept is less effective for saving because usually, someone has already used their money for their needs and wants.
When creating a financial budget, set aside 10% of your salary or monthly income for saving. It can use the rest to meet daily needs. But remember to use it wisely.
What if there is an urgent need?
The amount of 10% salary is absolute. You can't use it for anything except for saving. You can use the money for daily needs if an urgent need comes. You can rearrange it so that it can cover urgent needs.
3. Stick to a Budget
Sticking to a budget is commonly called "sticking to the budget" This concept can control your desires. For example, when you want to play and hang out, you choose to save money and save it. It isn't easy, but there is a solution.
When you save or set aside income, apply the "saving challenge." As explained, you can save money from your salary or monthly payment. You can set aside 10% to 50% of your salary or monthly income.
Then, you also have always to remember something you want to achieve. You can use wall-sticky notes posted on the room's wall to make it look attractive. You can see it every time you wake up and want to sleep.
In addition, you can also make your targets as gadgets wallpapers so that you will always be seen and remembered. Are you sure you don't want to try it?
4. Create a Separate Place to Save
To make your savings easier and less disrupted, try to separate the place where you save money and the place where you keep your daily expenses.
It makes your savings safe, and you won't have to worry about your savings being used or mixed with other money.
Nowadays, there are many financial applications that you can use to manage or save money, one of which is the the Whiz financial application..
With Whiz, you can manage your finances more safely because it's verified by Bank Indonesia, Kominfo (Ministry of Communication and Information Technology), and OJK (Financial Services Authority). Whiz has several exciting features.
You needn't need to make financial records because Whiz automatically provides this feature. Children can even use this application.
Parents don't need to worry because they can monitor by connecting the child's account with the parent's account. So, it is safe for children and suitable for training them to be open to financial literacy.
5. Activate the Cut Balance Feature
There's a more practical way besides making a separate place to save. Currently, many financial partners provide the balance cut feature through their applications. With this feature, your monthly salary or income will automatically be set aside for saving.
So, with just a gadget, you no longer need to visit a financial partner to save. Isn't that effective?
6. Saving according to Date
For beginners, you can save money uniquely, with a nominal value that matches the Date. For example, today is the 6th. You can save IDR 6,000, IDR 60,000, IDR 600,000, or even IDR 6,000,000.
You can do this one month in advance, from the 1st to the 29th. On the 30th and 31st, you can take a short break. If it's effective, you can always use this method.
7. Saving with Change
Of course, you often get money back from shopping, right? You can do this to save money. Even though the amount is small, if you are consistent, it will work! Come on, try it!
8. Looking for Additional Income
As a beginner, you can also be looking part-time or freelance to help you save money. Nowadays, this work is popular among teenagers to adults. You can get IDR 500,000–IDR 1,500,000 monthly by following freelance or part-time.
Not only add to your pocket money but freelance and part-time can add to your knowledge and portfolio.
If you are interested in part-time, you can be a waitress, barista, or shopkeeper. However, if you are interested in freelance work, you can be a content writer, graphic designer, or editor. You can use your salary to save.
9. Reduce Expenses
You can also reduce expenses if you have yet to save a nominal amount. You can look for ways to reduce costs with various alternatives. For example, if buying necessities, look for discounts, such as cashback or buy 1 get one promo.
You are looking for free recreation. Many music concerts are held for free. So, to fill your holiday desires, you can come to that place without spending much money.
Then, you can remove subscriptions or membership in a product if it's not being used. In addition, you must be able to distinguish between needs and wants. Prioritize your needs first.
10. Be Consistent
Eric Roberge said that consistency in saving is more than just a matter of the nominal amount we can set aside. Still, the surface is driven by enthusiasm and a desire that never fades into salvation. So, don't be discouraged if you save money every day or every month with a different nominal.
The most important thing is to be consistent and save even with different amounts
Read also: Come on, and Take Notes! 7 Ways to Save 200K in a Month
How? Are you interested in starting saving? Keep your spirits up! Come on, try the the Whiz financial application. too, and feel the benefits. The Whiz application also provides various features to help you manage your finances. So that you are not curious anymore, try using Whiz now!
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