Hi, Sobat Sikapi!
Many of you are probably already entering the workforce, and most of you belong to the millennial generation. Right now, millennials are truly in the spotlight.
So, who are millennials?
Millennials are those born between the 1980s and early 2000s, or in other words, those currently aged between 17 and 37. This generation is often associated with technology and the many conveniences it brings.
Millennials were born in an era where access to financial services is easier than ever. Being the first generation to grow up with computers and the internet, millennials can more easily learn about finance and apply it to their daily lives. When it comes to investing, all they need is a gadget and an internet connection to access everything they need.
But with a fast-paced lifestyle and limited financial knowledge, many millennials still struggle to manage their finances. They often find it hard to prioritize between needs and wants.
So, how can you—Sobat Sikapi millennials—manage your money wisely?
It all starts with discipline and consistency in maintaining a smart, frugal lifestyle. But remember, being frugal is not the same as being stingy. Living frugally means knowing how to prioritize your needs over your wants and fulfilling those needs in a quality and efficient way.
So, frugal living doesn’t mean cutting costs to the point of sacrificing quality—it means spending wisely, in line with your actual needs and your income.
To manage your finances successfully, Sobat Sikapi, you need to set clear financial goals so you can stay focused and plan better.
Many millennials live by the “you only live once” (YOLO) mindset, which often leads to a more expensive lifestyle and social habits. They sometimes have trouble telling the difference between wants and needs. For instance, they may buy something nice at the mall without thinking about whether they actually need it—and end up regretting it later.
Avoid buying things based on impulse. Always ask yourself: Do I really need this?
Also, do your best to stay out of debt. Avoid unnecessary, impulsive hangouts—especially if they don’t align with your financial goals. Before making any purchase, check your financial condition first. Don’t let the pressure to look cool push you into debt.
You can also use apps on your phone to check for promos and discounts. If you want more control over your monthly spending, try using a money management app—this will make it easier to review your finances at the end of each month.
When your salary or allowance comes in, create a financial plan based on priorities.
One method you can try is the 40-30-20-10 formula:
There are four key components that should always be part of your long-term financial plan:
savings, investment, health insurance, and retirement planning.
With prices and living costs continuously rising, these four things are essential to have as early as possible.
Wouldn’t it be great if you could enjoy social life while still feeling secure about your future?
And most importantly—even if your financial plan is already solid, never forget to set aside an emergency fund. Life is full of surprises, and without an emergency buffer, those surprises could disrupt the plan you’ve worked so hard to build.
Source : http://rumahmillennials.com/siapa-itu-generasi-millenials/#.W2PLVdL-jDd https://koinworks.com/blog/rencana-keuangan-anak-millennial/ https://finance.detik.com/perencanaan-keuangan/d-3883303/gaya-hidup-milenial-dengan-budget- minimal https://kumparan.com/@millennial/5-cara-mengatur-keuangan-untuk-kalangan-milenial
