Getting money and saving is sometimes difficult, especially for people who don't understand how to manage finances and are in debt. However, you must have an income to be able to save and pay off debt so that you are free from financial problems. In addition, you also need to change your lifestyle, be frugal, and be diligent in saving.
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Part 1 of 3: Earning Money
Step 1. Find a full time job
In order to save, start looking for a full-time or part-time job. You can look up job vacancies online on company websites or read advertisements in newspapers. The right way to get a job is to look for job openings that match your qualifications and show that you are the best job applicant.
For greater job opportunities, prepare a good biodata and job application letter according to the job you want. Determine several jobs according to your abilities and skills and then submit a cover letter and biodata according to the qualifications determined by the recruiter
Step 2. Explore the possibility of working part time
If you've been working full-time, but still can't save, find a part-time job to earn extra income, for example by becoming a waitress, waitress, or translator. In addition, you can work side jobs related to regular work. For example: teachers can earn extra income by replacing teachers who are on leave or teaching skills courses at local community centers.
If you are interested in working part-time by becoming a translator to earn extra income, look for information on the internet to take part in the translator certification held by the Indonesian Translator Association
Step 3. Think of work that can be done at home
If you haven't found a full-time job or want to work part-time, look for other business opportunities to earn more money. If you love to cook, make cookies or snacks and offer them to neighbors in the neighborhood. If you enjoy writing articles, submit your writing to a magazine or newspaper publisher.
Step 4. Turn a hobby or activity you enjoy into a source of income
If you enjoy knitting and are already good at making hats and scarves for family members and friends, use your hobby as a source of income by opening an online shop to sell your work to the market. That way, you can earn more while doing fun activities.
Many business people start their business from the ground up with limited stock and only open an online store, especially if they make, market, and sell their own products. You can open a shop as a side business while working full time until the business is established enough to be your main source of income
Part 2 of 3: Having a Savings Account
Step 1. Pay off debt first before saving
If you still owe, for example: a credit card loan or an education fund, pay it off first so you can save. Pay the debt every month as much as possible so that it is paid off faster and the interest charged is not getting bigger.
You can give instructions to the bank to automatically debit the account to repay the debt with the same amount every month. Debt will be paid off faster and more efficiently if it is repaid consistently
Step 2. Open a bank account
After paying off the debt, you need to open a bank account. Choose the bank that offers the highest interest rates and charges the lowest administration fees. Some banks promise a reward if you save a certain amount each month.
- Ask your employer if he or she is willing to transfer your salary to your account every month.
- So that the funds stored in your savings account are not used up, you should open a new account specifically for spending transactions. Thus, the savings account is used only for saving and withdrawals are not made in one account or using one debit card.
- Another way is to save first before paying bills. Once you've deposited all of your monthly income into a savings account, transfer the funds to your expense account each week to pay bills and daily necessities. That way, you don't waste a savings account or use savings funds to pay for unnecessary expenses.
Step 3. Make a commitment to save a certain amount each month
Determine how much money you will deposit into a savings account each month and then do it consistently. For that, first calculate the amount of your income and expenses. Deposit more if your income increases and you can save money. Try to save as much as possible so that your savings can be maintained and the amount is getting bigger.
Employers are obliged to provide pension benefits to permanent employees which are deposited into Jamsostek and BPJS Ketenagakerjaan. Through this program, employers will deduct employee salaries and provide allowances according to a certain percentage so that the funds collected will be even greater according to salary increases and years of service. Thus, you already have savings in preparation for retirement in a safe way
Step 4. Use the savings to invest or have fun in the future
Many people find it difficult to save every month because they prefer to buy new clothes or eat at a restaurant every night. Start saving with a specific goal and deposit every rupiah to invest or have fun in the future.
Imagine being able to achieve your goals by saving money, for example: buying a new house, continuing your education, or studying abroad. Saving to achieve certain goals makes you more motivated so that you continue to deposit funds into a savings account and as a gift to yourself for being able to spend money wisely
Part 3 of 3: Changing Your Lifestyle
Step 1. Make a financial budget
One way to calculate the amount of income and living expenses is to prepare a financial budget. If you don't already have one, make a financial budget so you can calculate how much money you can save and prevent wasting it by buying something you don't need. When drawing up a budget, remember to take the following into account:
- Rental and utility costs.
- Transportation costs.
- Food.
- Other costs, for example for car service, school needs, medical expenses, etc.
- If you still have to pay off debt, put it in your budget and pay it off as soon as possible.
Step 2. Don't eat in restaurants
Eliminate the habit of eating in restaurants because this is a waste. Take time to cook 1-2 meals every day. If you stop by for a cup of coffee every morning on your way to work, cut that expense by making your own at home. If you eat out at a restaurant every lunch break, bring lunch from home to save money each day. Even though the amount is small, the savings will get bigger if you save every day.
Step 3. Make a grocery list before going shopping
Plan the menu in advance for the week and then record the ingredients needed to cook 2-3 menus every day. Choose a specific day to shop, such as Saturday or Sunday because groceries are usually more in stock and you have enough time to shop.
Step 4. Get in the habit of shopping at quality grocery stores at lower prices
Before you go shopping, look for grocery stores that offer the best deals or discounts. In addition, you can become a member at certain stores by registering and paying an annual fee to get a discount every time you shop.
Step 5. Collect the coins in the jar
Do not keep coins in a bag or in a jacket pocket. Prepare a jar and put it in each time you receive change. Gradually, the amount will increase and you can add funds to your savings account.
Step 6. Consider at least 24 hours before buying an expensive item
To avoid shopping impulsively, delay at least 24 hours before deciding if you need to buy an expensive item. Think carefully whether you need the item and really useful. That way, you won't feel disappointed or regret that you paid more because you didn't research and think carefully before buying.
Step 7. Pay with a debit card or cash, not a credit card
So that debt does not increase, use a debit card or cash when shopping, especially for primary needs. You will find it easier to record expenses if you pay with a debit card. You instantly know the amount of expenses every day by paying cash.
