Youth is synonymous with parties. Even though it isn’t all young people are like that, yet want him to always appear in this way. Don’t want to miss out with his friend. Is too high and luxurious, so it often spends its salary or income to finance the desire.
If youth is worn for fun, worry in your old days will be miserable. It has no financial guarantee, so it lives a life of its own. While young, use it to do something positive and productive, so that the old are rich and don’t become a burden on your grandchildren.
Things to Do in Youth
The year has changed, lest your finances be ruined. Think of the financial future as early as investing, so that life will be guaranteed in the old days without the mind of fishermen.
Investment is putting money or capital on an instrument within a certain period to gain a profit. Investment can give a higher return compared to saving in banks when done in the long term, more than 5 years.
You can start an investment since sitting on the college bench. Now, many investment products offer small change capital, ranging from IDR 10 thousand to IDR 100 thousand. Among them are online gold investment, rexadana investment, stock investment, fintech peer to peer lending investment, and others.
Select investment instruments that fit the risky profile. For example, you are a conservative or safe-looking type, suitable investment is gold investment, money market redevelopment investment. Whereas the aggressive type can choose stock investment, stock redevelopment investment, or others.
Establishing a financial plan
At a young age, spending is not too much yet. Some still live with parents, unmarried and have children, so salary or income should be enough to meet daily needs.
Learning a frugal life
Learn to live a frugal life from now on so you can get used to it. Savings are made to avoid actual unnecessary or out-of-budget spending.
Various savings that could be made, such as reducing habitually hang out, coffee snacks, treat girlfriends because of love, shopping to get rid of sad.
Look for replacement activities that are no less fun, do hobbies at home among them cooking, reading books, gardening, and others.
Self-protection with health insurance
The health costs of the present age are costly to ask for mercy. Especially in during the pandemic, the transmission of disease is becoming more and more vulnerable.
One way to save healthcare costs is to have health insurance. Ownership of both private health insurance and BPJS Health insurance can help you ease the financial burden when sick or need regular health checks.
The expensive health insurance premium you have to pay depends on how old you are when applying for or buying insurance.
If you buy health insurance when you step on she is no longer young, then the premium to be paid will get more expensive.
Because, the older one gets then the probability of suffering sick is getting higher. This is the reason why health insurance premiums for the aged are more expensive than those of the young. For this, it is best to have health insurance while young.
Improving skills and expertise
When you have adequate skills and expertise, money getting a career or a job would be easier. Even rising to office is not impossible.
Therefore, while young, spend your time on gross skills and expertise. How to do it by participating in seminars, courses, offline as well as online training, etc.
With that ability, you can produce more of money, whether it be on the main job or on the side job.
Preparing emergency funds
In addition to savings and investment, you also need to own sufficient emergency. Its nature is in case of severe illness, accident, or other urgent circumstances that require money.
Emergency funds can be raised as early as young. Set aside 10% by salary or earnings per month for emergency funds. The more emergency funds, the better.
However ideally emergency funding is approximately 3-6 months from aging run a routine for the single person and for the family (having more than 2 children) for about 6-12 months of expenditure.
As life continues to spin, the age increases, so it is important to do preparations early on. Either that in terms of career or finance. With careful preparation, your old life is much more secure, secure, and happy because there is really nothing to fear especially about finances.