How to Manage Finances that Many People Don’t Know

23 Apr

Managing your monthly finances is actually a difficult and difficult task. Many people learn or just read articles on how to manage finances properly and correctly from the experts directly and via online. That’s fine, considering managing finances is very beneficial for your financial future.

Financial management not only takes into account every income and expenditure, but also learns how the two of them operate in a balanced way, not having a bigger stake than a pole, causing a financial deficit. Therefore, it is necessary to know the details of short-term and long-term expenditure, as well as to make savings efforts.

If you are still confused, here are some ways to manage finances that are guaranteed to be effective in building a more stable financial future.

1. Set Salary with Principles 50-20-30

How to manage finances on this one is very simple, but not many people know. So set a budget with a 50-20-30 system. What is that? For every salary or income you receive each month, allocate 50% of the money for daily living expenses, such as food, transportation costs, paying rent for houses, electricity and water bills, including credit card bills.

Next, set aside 20% of salary for savings and investment. You must allocate money for emergency funds, for example when you fall ill, a broken motorbike, or other unexpected event. Don’t forget to use it for investing in pension funds or other investment instruments. These funds should not be contested.

While the remaining budget of 30% of your salary for entertainment, holidays, shopping for clothes or buying desired items. If this budget allocation is considered too large, you can reduce it. Actually you can adjust it yourself by sticking to the 50-20-30 principle.

2. Describe yourself at the age of 80 years

Right now you are still in the age range of 20-30 millennials. But try to imagine yourself at the age of 80 years. Do you still want to work to earn money or want to enjoy life with your children and grandchildren? If you do not want your retirement to be miserable without sufficient financial provisions, of course you should start thinking about retirement savings since you are young.

Imagine also at the age of 80 years, you already have a home and a vehicle, send your children to graduate school, the whole family is protected by insurance, there are businesses that support old age. How beautiful right? To achieve all that, you need to manage finances properly while young. Of course you can without having to sacrifice your lifestyle.

3. Prepare a Pension Fund

Not many people think about retirement funds while they are in their productive age. On average they think that the money earned is only to meet current needs. Though they have to prepare funds or retirement savings. Where you will grow old and no longer be working. You can set aside 10% of your monthly salary for a pension fund deposit.

4. Take advantage of insurance as possible

Don’t be mistaken, some life insurance policies now offer the option of accelerating benefits. Where the benefit or guarantee of death can be paid while the insured is still alive. For example when you buy insurance for your 75-year-old mother, you can submit insurance claims for maternal care costs when sick. Later the insurance company will reduce the death benefit by the amount of money that has been disbursed for medical expenses.

The remaining balance will be paid to you if your mother dies. Life insurance can be used to replace income streams for spouses who are still alive, provide guarantees for heirs, change the value of assets, maximize pensions, college funds for children and grandchildren, and other benefits.

5. Wisely Using a Credit Card

Even though you’re managing finances, you don’t need to close a credit card. You can get around the loan wisely using a credit card. The longer the credit card’s age and the timeliness of paying installments will be recorded on your credit score. Closing a credit card certainly damages your credit score. If you have an old credit card with a decent limit, leave it alone because you can use it for sudden needs.

6. Negotiate Interest when Applying for a Loan

Who says interest on loans cannot be negotiated? It’s easy, just come to the bank to talk about it. You can talk about the interest and loan tenor. The goal is to not disturb your overall financial condition. So, not all income is paid only for installments.

7. Save the Change

Do not underestimate the small change. Keep the returns from stalls, minimarkets, and so forth. Prepare a container to store the change so that it does not splatter. Later this dime will continue to grow and can be used during emergencies, especially in old dates when the wallet starts to tight.

Smart Manage Finances, Life Becomes Calmer

Keeping finance stable does sound easy, but the reality isn’t. Need a strong commitment to run it. Because without commitment, you will easily be tempted by various obstacles that are in plain sight so that it can ruin the financial plan that has been prepared in such a way. Moreover, this is entering the new year. Smart in managing every income and expenditure is the key. The aim is to achieve a better financial future.

How to Manage Finances

23 Feb

Any amount of income will never be enough to meet your needs if you don’t know how to manage finances. Rich people will experience financial problems if they do not know how to manage personal finances well.

In fact, managing finances is the main key in achieving financial success. Especially with the increasing cost of living requires us to be smarter in managing finances so as not to get into debt.

If you are not married or have a family, let’s familiarize yourself from now to manage finances better so that needs can be met.

Want to know how to manage personal finances? Let’s look at the following review:
Manage Finances

We can manage personal finance by understanding two simple concepts, namely income and expenses.

Income is the amount of money you earn such as monthly salary, operating income, investment income, pension, rent and so forth. Meanwhile, expenses are payments of products or services with income.

Personal finance consists of various topics, such as managing finances, personal financial records, and managing loans wisely. Understanding the fundamentals of financial management will make you live well starting today and building a stable financial future.
Personal Financial Records

Have you made your personal financial records every month? If not, start recording your income this month so you can manage your personal finances well. This income breakdown comes from salary as a company employee or a civil servant.

You should also note if you get income from other professions or side businesses such as freelancers, online taxi drivers, online sales businesses, tutors, home rental businesses and so on.
Record Expenditures

After you record your income details, then allocate your income to the expenditure budget, as below:


By giving alms, one will not be poor and destitute. Precisely the more charity, the greater the potential for one’s fortune will be abundant.

Set aside a minimum of 2.5% of your monthly income for charity to orphans, needy people, refugees, victims of natural disasters, or people who are in need.

Routine Needs

Every month, there are important needs that must be met routinely, such as buying kitchen needs, buying bathing needs, paying for electricity and water, and so forth. At least 50% of monthly income must be set aside for these routine needs.


Savings is one of the important things that must be owned and prepared for everyone without exception, because it can be used for various things such as buying a house, paying for unexpected needs, disasters and others. Income must be set aside for savings of at least 10%.


In fact, insurance provides protection and guarantees your life and assets. The cost of an insurance policy that you pay to an insurance company in the future will benefit your life and assets. So when bad events occur, the family you leave behind no longer needs to bother thinking about the bad events that befall you. Set aside a minimum of 5% of your income for insurance premiums.


If God is willing to give you a long life, you can enjoy your financial success when you have an investment. Therefore, allocate 12.5% ​​of your income to investments in various sectors, such as property, stock exchange, P2P, forex, mutual funds, or others. Investment funds can also be used to deal with the high cost of children’s education or to prepare your retirement funds in the future.

Entertainment or Vacation Costs

It is undeniable, stress can be experienced by everyone. If allowed to drag on, stress will turn into depression and even cause chronic diseases such as heart disease. Therefore, you need to prepare a special budget for entertainment or holidays to release stress. Collect about 10% of funds for entertainment or holiday purposes.

Emergency Fund

Unexpected things can happen. Do not let unexpected expenses such as buying wedding gifts for family or friends, buying drugs, thanksgiving, etc. make your financial plan a mess. Therefore, you must set aside 10% of your income for this emergency.

Changing Face of Business In The Modern World

14 May

Business in the present times does not operate in a vacuum, the world and the people invariably influences its behavior, and at times in a negative constraining manner and at times giving it a chance to exploit an opportunity.

The influences that determine the course of business practices are Political and legal environment, ethical environment, social environment, and technological environment.

Business in the Modern WorldThe laws that govern the business are consumer protection law, competition law, employment laws, labor laws, environmental protection laws.

The present business climate is dominated by the technological environment and impacts upon virtually every aspect and function of the business with marketing tuned to generate maximum profits with internet playing a very important role in making a huge consumer base and opening new vistas for distribution and in the process eliminating many middle man and passing the benefits to the end buyer.

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Business WorldAutomation of production process has improved the quality and quantity of the goods and services at very cost effective methods and the process of communication has greatly enhanced the business process by making use of text messages, internet, live chats, power point presentations, online surveys, affiliate marketing.

The dynamics of financing the business have undergone a complete transformation with transparency being the main focus, and globalization of money and financial markets has increased competition amongst financial institutions which lowers the cost of borrowing for business, and with computerized accounting methods and online banking, financial planning for business has become speedy and safe.

How to Manage Household Finances So As Not Wasteful

2 May

Managing household finances is easy and difficult. There are needs that make you have to spend more than your budget. There are always mistakes that make you and your family unable to save. One of the problems may be that your management is inappropriate.

There are various expenditure items that have not been recorded, or the allocation of funds is too minimal in certain posts and too excessive in other posts. To find out how to manage household finances so they are not wasteful and what are the keys to successfully managing family finances, consider the following points:

Benefits of Knowing How to Manage Household Finances

By starting to know and apply how to manage household finances so as not to waste it can help you to have a healthier financial flow. Of course, by having a regular family finances you can further minimize uncontrolled expenses, especially expenses that are impulsive because of debt, for example with a credit card. So, by managing on a regular basis you can further minimize the possibility of getting stuck in debt.

In addition, you can also control so that no unexpected finance comes out, which will usually make you more wasteful. Usually by managing like this you can know exactly how much is allowed and what the spending limit is so as not to overdo it.

Of course, this way you can also save more. You can also know where expenses are less necessary and can be allocated for savings. Later, this savings can be allocated for other things such as paying off debts (if any), or used to finance emergency funds at a later time.

The Key to Success in Managing Family Finances

When will start managing money, of course you have to start with the key to successfully managing family finances. This key lies in the involvement of all family members. Allow each member, even the children, to take part. Explain to children that the family’s financial condition must be tightened so that financial flows become healthier (if you are trapped in debt, try to convey it in a language that is more easily accepted by children).

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Take time to have a family meeting, and determine how much nominal amount is spent on each expenditure. Agree with each family member, and let them know that this budget will not go according to plan without the involvement of all family members.

The key to successfully managing a family also lies in the ability to save. The main recipe that you have to do is to set aside, not leaving money every month. Many manage it inappropriately because the rest of the money at the end of the month has already run out and can no longer save. Even if only at the beginning of each month you and your family regularly set aside at least 10-30% of monthly income to a savings account, this can have a big impact for you. The results of savings can certainly be allocated for things like buying assets with a down payment (DP) is greater so that the installments are lighter, for a vacation, or for other expenses that are indeed needed.

It is also important to save for emergency funds. Emergency funds are funds that are prepared to be used in an emergency, such as if you fall ill or may be fired from work. Why must emergency funds and savings be separated? Of course, as a precaution replaces your main income in a condition of urgency. The function of emergency funds will be felt when your primary source of income is completely lost, so it really should not be used at all and must be allocated in a special savings account.

Managing Finances Worksheet

2 Apr
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Image Result For Managing Finances Worksheet

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Managing Your Personal Finances Textbook

28 Mar
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Image Result For Managing Your Personal Finances Textbook

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    Extras > IndyBest > Books best money management books. Getting to grips with your finances can be a daunting, get clued up on how to be spending savvy with these books that cover the basics.

Managing Your Finances Worksheet

28 Mar

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Personal Financial Manager Software

28 Mar

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Managing Your Personal Finances Answers

28 Mar

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How To Manage Your Finances

8 Mar
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