Managing a salary of 3 million is not an easy thing to do. From time to time there will be a need that makes a person have to spend more than his budget. If not managed properly, the savings that you have accumulated so far can be drained.
There are six ways to manage finances with an adjustable salary of 3 million. Starting from saving at the beginning of the month, taking notes, preparing an emergency fund, saving money, looking for additional income, and much more.
So, how do you manage your finances well if you have an income of IDR 3 million per month? Check the following tips!
Tips for Managing 3 Million Salary Finances
1. Budget your personal expenses
Everyone has different needs. For example, maybe you have to set aside money for daily meals and public transportation or gas for your personal vehicle. 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 understanding of your needs each month.
If you need 2.5 million every month for your needs, you can save the rest of the money from the beginning of the month.
2. Set aside money at the beginning of the month
As previously mentioned, compared to saving at the end of the month from the remaining salary after deducting it for daily needs, it's better for you to change your saving habits at the end of the month with the habit of saving at the beginning of the month.
To avoid being tempted to take out savings or emergency funds, keep the money in a separate account from your main account. If possible for you, use a bank account that does not have an ATM and is free of monthly administration fees so that you don't lose a dime in your savings.
Read also: The Importance of Financial Transparency with Your Spouse
3. Setting up an Emergency Fund
The next tip is to prepare an emergency fund. If you want to have good financial health, you must set up an emergency fund that can be used when you fall ill, have a disaster, accident, or other bad things that can happen.
Preferably, you have funds that can support your life for the next 2 to 3 months after you experience a catastrophe. Therefore, if you need IDR 2 million to live a month, then you need IDR 4 to 6 million as an emergency fund if needed.
4. Stay 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.
5. Looking for Additional Income
Earning IDR 3 million a month from your main job may not be enough for you for a month. Another way that can be done is to find additional work that does not interfere with your performance in your main job. Maybe you can take a work that can be done at home when you're not too busy.
However, it's a good idea if your extra work isn't done on a day off, because no matter how strong a person is, they still need enough rest and time to relax. refreshments and have fun.
6. Reduce Unnecessary Expenditure
There are certain types of expenses that you will 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 shouldn't spend money on fun. It's best if you really want something, save first to get the item or recreation you want one by one.
Don't forget to separate recreational savings from core savings. That way, your core savings won't be compromised.
Here are some tips that you can do to manage your 3 million salary finances. Don't worry, once you get used to managing your money regularly, your livelihood and quality of life will certainly improve.
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