How to Save 1 Million per Month for School Children – For you students, saving is not only financially beneficial, you know! However, by saving, you can be more disciplined and wise in managing your finances.
When you learn to save, you will know how much effort you put in to get what you want. That way, you will also be able to choose and differentiate between your needs and desires. You can also determine the priority scale to get something you want.
Moreover, if something you want is very expensive, for example, you want to buy a laptop or cellphone.
For that, Whizmin wants to share several ways to save 1 million in a month. Guaranteed easy! Come on, take a good look.
Read also: 8 Ways to Keep Your 1 Million Money Rotating
8 Ways to Save 1 Million Per Month for School Children
1. Make a Financial Plan Note
Before starting to save, it's a good idea to first make notes on your financial plan. You can divide how much pocket money you have and how much of that amount you can spend.
If you have thought about and recorded the amount of income and expenses, it's time for you to determine the saving target you want to achieve. You can determine what percentage of pocket money you can use to save.
For the ideal amount, you need to set aside about 10 to 20 percent of pocket money for saving. So, for example, if you have an allowance of Rp. 1 million per month, you need to save around Rp. 100 thousand to Rp. 150 thousand per month.
2. Diligently Recording Expenses and Income
Diligently recording finances is one of the important things that you must do so that you can achieve your saving target. That way, you will know what activities or activities drain your pocket money the most.
Once you know that, you can save on unnecessary expenses and increase the amount of money that can be used to save. For example, if you spend IDR 200,000 per month just for snacks and buying accessories, then you can reduce it or not buy it at all next month.
3. Create a Savings Table
After you make financial records, so that you can be more consistent in saving, you can create a saving table. Making this saving table is very interesting, you know!
You can create a saving table with a daily, weekly, or monthly scheme. Make several boxes according to the amount, day, week, or month.
In the box you can fill in the nominal amount of money that you set aside that day. If you manage to set it aside, you can cross out the box indicating you managed to save at that time.
Whizmin recommends that in the first day or week or month, save a small amount first so you can be consistent, OK!
4. Reduce Hangouts and hang out
Hangouts and hanging out with friends is really fun. But, if these activities are done often, you might not have any expenses to save. For that, reduce your hangouts and hangouts, use your pocket money to save.
But you don't have to be sad, okay? Because that doesn't mean you have to stop these activities. You are only advised to reduce it and be wiser in spending money for more important needs.
In addition, try to always carry a note with you when spending money. This is important so that you don't overspend.
5. Find Extra Pocket Money
Nowadays, there are many things that students can do. If you have academic skills, you can teach private lessons or become a mentor at a tutoring agency.
In addition, you can find additional pocket money through other means. For example, being a waiter in a restaurant or cafe. Or you can also open your own business. Some businesses that can be used as student businesses are to become resellers, selling handicrafts, becoming blogger, even celebgram.
Once, get a job, use your salary to save.
6. Bringing supplies
Another effective way to save is to bring lunch to school. Besides being able to save on your expenses, lunch made by your parents can be much more nutritious than snacks at school.
Bringing bekake really saves your expenses so you can use the money to save money!
7. Learn to Invest
Who said that investment can only be done by adults! You as a student can also invest. Currently, there are many money management apps which helps you to save and invest your pocket money.
8. Create a Finance Application
There are so many benefits and advantages if you use money management apps. Among them, you can be financially smart, can be smarter in managing your finances, and you can also get several other benefits, such as cashback and other interesting promotions.
Later you can save the results from the cashback and promos for saving so that your saving process will be smoother. Moreover, if you use the Whiz financial application.. The features are complete and specially made for you students. But, if your parents want to use it, that's fine too.
With the Whiz financial application., your parents can monitor your financial condition so that your finances can be more focused, you know!
Read also: How to Save Pocket Money - 10 Money Saving Tips
How? Some of the tips above are interesting, right? So, start saving from now on, OK? And use the Whiz financial application. to get a satisfactory profit!
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