Income Allocation below IDR 10 Million, Here’s the Precise Concoction!

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ACCURATE.CO Seeing other people’s income, which is bigger, will definitely bring up a sense of insecure. Whatever our income is a gift. Hence, feel insecure or secretly jealous, don’t keep it too long.

Because the dangers are quite scary, you know, starting from making you lazy and trusting in instant money to mostly gossiping about other people’s achievements. Even the results of a study by Prof. Cary Cooper at Manchester University also revealed, comparing achievements will only make it difficult for yourself to be happy towards depression.

So, how can a salary below IDR 5 million or even the UMP be able to manage their income as well? Launching the Instagram page of Financial Planner Prita Ghozie @pritaghozie sharing tips on how to mix an income allocation under Rp. 10 million, check it out!

First things first!

Whatever income, as much as possible we still share with those who are less fortunate. So, for those whose income reaches the nisab, pay zakat for their income and also their mal.

Alms, social and sharing will mean a lot to those who receive it.

Then, we’ll see if you can join the system again budgeting which one every month. Initially, using a very simple commitment method, only dividing the commitment expenditure (75%) and saving in it.

Then, if it is possible, you can upgrade using the Living-Saving-Playing method like this.

1. Allocation of Living

bachelor a maximum of 30%, if you can’t, it’s 50%!

– Pay bills. – Shelter, food, clothes. – Installment (whether it’s in installments).

Married- maximum 70%

– Housekeeping. – Pay bills – Personal and child expenses. – Installments (usually motorbikes, gadgets, or you don’t know what to do).

2. Allocation of Savings

Single- let’s try 50%

– Must force 10% for emergency fund. – 20% for savings for the closest financial goals: getting married, collecting down house payments, and the like. – 20% for investment: pension fund

Get married, let’s go after 20%

– Emergency fund + insurance premium = 10%. – 5% for savings closest to financial goals: child preparation, education funds. – 5% for investment = education fund.

3. Play allocation

Single – a maximum of 20%.

– Snack. – Go for a walk. – Sometimes it’s not clear what to buy from olshops.

Married – yeah the rest of the world…

– All the above points, pluses. – Buy cute clothes for children. – Buy plants, pots, fish, cats, I don’t know.

I really understand that if the salary is UMP + dependents, it is more difficult to manage the money. I want to tell you when salary 5-10 million = Living 70% first. But the more the salary increases, Living = 60% and then 50%, aka ideal.

Then, what if your salary is still the UMP but you want to invest?

I’m sure any income must be a hobby of TopUp e-wallet balance, right?

So, when you top up, you are forced to buy 10 thousand rupiah; – money market mutual funds. – gold.

Thank you, nowadays almost all online platforms have investment features, starting from Rp. 10 thousand only.

Then, what if I still don’t get my salary for Living?

Yes indeed, understand that the UMP income in a city is a standard of decent and simple living for 1 person plus 1 dependent.

So, if you are even married. The option opens a new earning faucet.

– Halal trading = own production, trade in people’s goods or MLM?

– Find a job part time or freelance

Move sleeping assets become active assets.

What not to do, idly install crypto assets hoping to go up 100% in a day.

Without sufficient understanding or knowledge, then immediately participate in investing. It’s like you are walking in the middle of a dark forest without knowing the direction.

So before investing, it’s very important for you to get enough understanding first so that the risk is minimal. The reason is that there are many mistakes that are too common for beginner investors from the millennial circle, so that their investment goes into the red zone or even messes up their financial management.

If you want to get a quick profit, then what is done is not investment but speculation.[]

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