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Have you ever had the feeling that your money is running out fast when you just have a paycheck? Or suddenly confused because you haven't had time to save, but there have been a lot of unexpected expenses? Well, that's a sign you need something called budgeting!
Budgeting is not only about recording income and expenses, budgeting is also about how you organize your finances so that every dollar spent has meaning. So, there will be no more such thing as “old date struck” or wallets suddenly empty.
According to a survey from Bank Indonesia (BI), many people still have difficulty managing their finances properly. Most people feel that budgeting is tedious, boring, and not suitable for them.
In fact, budgeting can be done in a simple and fun way. What matters is intention and consistency in running it.
Before we get into more detailed budgeting, there are a few benefits you get by budgeting regularly:
Budgeting can help you become more aware of your shopping habits. For example, daily coffee servings, if counted in a month, can reach hundreds of thousands of rupiah!
With budgeting, you can more easily plan your finances for the short and long term.
Budgeting provides a sense of calm, no more feeling of “sudden panic” when suddenly there is an urgent need because everything is well allocated.
Do you dream of buying a home or a vehicle? Want to plan a trip around the world? With budgeting, you can map out clear steps to achieve those financial goals.
Now, let's get into the more exciting part! Let's start step by step so that you can manage your finances better:
Think first about what financial goals you want to achieve. Setting clear goals will help you stay focused.
This method is a popular and understandable way for beginners. Divide your income into three main categories:
Make it a habit to record every expense. You can use the FINETIKS application so that you can see your spending patterns and adjust your budget in the following months.
Once you know your spending patterns, set a budget for “restaurants”, “shopping”, “traveling”, and so on.
Budgeting it is not something rigid. Evaluate your budget every month and see which ones need to be reduced or increased.
Are you ready to start budgeting? Let's start with small steps now!
Budgeting helps you be more disciplined in spending money on the things that matter most.
With budgeting, you can create a debt repayment plan and allocate funds gradually until they are paid off.
You can set up an emergency fund in the budget, so you don't have to get dizzy if there is a sudden event.
Budgeting ensures that you save regularly, so your savings can grow over time.
Budgeting is not a hassle, but it helps you to be calmer in managing your finances. Don't be afraid to try and experiment with the different budgeting methods that exist. Ultimately, the most important thing is consistency and willingness to learn.
Let's start budgeting right now! If you're still confused, try the FINETIKS app and see how budgeting can change the way you manage your money. Download FREE at Google Play and App Store.
