how to manage financial salary 10 million

How to save 500 thousand salary? Is it possible?

Saving 500 Thousand Salary – Earning a living and livelihood is certainly very important for everyone. Being independent and having your own income is also something to be proud of. No matter how big your salary is, it's a good idea to save some of that salary for the benefit of your future and your financial health.

Even with a salary of 500 thousand you can still save well and consistently, you know. But how, huh? Well, Whiz will provide several ways that you can do to save a salary of 500 thousand. Check out the following tips!

Read also: Low Financial Literacy? Whiz Is The Solution!

How to save 500 thousand salary

Budget Your Personal Expenses

Everyone has different needs. For example, maybe you have to set aside money for public transportation or private vehicle gas. Therefore, bolt the budget for your personal needs. Such as transportation costs, both public and private transportation, the need to eat outside or at home.

By determining the amount that suits your needs, you will have a clearer picture of the expenses that must be made each month.

If you need 450 thousand every month for your needs, you can save the rest of the money from the beginning of the month.

Cook Your Own Food

Cooking your own food can reduce your expenses, you know. Instead of ordering food, you can reduce expenses by cooking.

By cooking your own food, you don't have to spend money every time you have to eat. In addition, cooking yourself can also be a fun activity and increase your skills.

If it is calculated, for example, your food expenses from the previously mentioned 450 thousand are 150 thousand. By shopping and cooking your own food, you can reduce these expenses to only 100 thousand. You can put the 50 thousand that you don't use every month into your savings.

Saving Every Day

From time to time, you may end up spending less than your budget. Even if you don't have much left over, you can get into the habit of saving what's left.

A little bit, of course, the money will be a lot and can also be put into savings. However, don't let your daily needs go unfulfilled, OK!

Live in an Affordable Place

If your workplace is still affordable from home or maybe your office is still implementing Work from Home, of course you can still stay at home.

However, if you are required to live near the office, in big cities living in your own boarding house with a salary of 500 thousand is not possible because of high prices. The solution is to live with friends and work together in paying the rent for the boarding house.

That way, you and your friends' expenses can be lighter and you don't have to worry about running out of money.

In addition, you can also share daily necessities such as shopping for food with your friends, reducing the expenses you have to do again.

Be Wise with Transportation Choices

As with cooking your own food, wisely choosing your transportation to the office can also help you save money.

In general, choosing to use public transportation can be a cheaper option than using private transportation.

Even if you have a private vehicle, calculate the amount of money you have to spend. Not only gasoline, the cost of maintaining your vehicle to keep it healthy and ready to use is also not small.

Besides that, if your place of residence can still be reached on foot, besides exercising, you will also certainly avoid spending on transportation!

Avoid unnecessary expenses

There are some expenses you'll want to make that could actually be avoided. Expenditures that are non-essential and impulsive, such as going to expensive places and buying non-cheap items should be avoided.

However, that doesn't mean you can't have fun. Better, if you really want something, save first.

Make a special savings for recreation or items you want, separate from your core savings. That way, your core savings are not disturbed, your daily needs are still fulfilled, and your activities that make you happy are also fulfilled!

Discipline in Saving

Self-discipline in saving is the most important thing to maintain your financial health. With discipline, your needs and wants can be met without jeopardizing your savings and your financial condition.

Plus, in case of an emergency, you'll have safety net in the form of money that you can use.

Those are some ways to save 500 thousand salary that you can do. Don't worry, as your experience and skills continue to grow, higher paying jobs and livelihoods will come.

Managing finances so that they are stable is not difficult, especially if you use Whiz!