To make the amount of your savings increase, you need something more than just saving.
How much money to save?
Where did you put the money?
How can you be sure that the money will still be there (not used)?
Here are the steps you need to do so that you can increase the amount of your savings:
1. Set a goal
For short-term goals, set goals can be easily done. If you only want to buy a game, you have to do is find out what it costs. If you want to buy a house, calculate the amount of the down payment that you have to prepare.
For long-term goals such as retirement, you should do a better planning (estimate how much money you need to live comfortably after retirement and investment and estimate how your savings will help achieve your goal).
In order for your goals can be achieved, then the first condition is that you must have is you do not have debt. If you have debt, your first priority is to pay off your debts. Once everything is paid off, the money you can use to start saving.
2. Set up a schedule
For example, I want to buy a home within three years from now. Set a date for the achievement of short-term goals and make sure that the goals can be achieved in that time. If not possible, then you will only be discouraged.
3. Determine the amount of money to be saved
Calculate how much money you will save in your savings per week, per month, or every time you receive a salary, to achieve your goal is. You should keep the same amount of money each period. For example, if you want Hajj 3 years from now, let's say the cost is 45 million, then you have to store a month Rp. 1.250.000, -. But if your salary amounting to 2 million per month, then your goal seems unrealistic, because ideally the savings is 30% of your income. What you should do is change the schedule in order to produce a more feasible scenario.
4. Record spending
The amount of money you tube is the difference between the amount of your income and your spending amount. Because you have control over the amount you spend, it is a wise thing if you look critically at your expenses. Record each month where you spend your money. Be as detailed as possible in your money supply, including small purchases. Then try to categorize the types of costs. For example: rent, car insurance, car maintenance costs, telephone bills, gasoline, food, entertainment, etc.
5. Cut your expenses
Look at the back of your expenses for 2 months back. It is surprising when you realize you are hanging out in the cafe cost of Rp. 2 million, Rp parking ticket. 500 thousand, and so on. Maybe you will find some of the costs that you can not trim. Based on the amount that needs to be saved, you need to take some tough decisions. Make it a priority and cut expenses smallest impact to your needs. For example, you can move to a cheaper apartment, reducing car usage, restrict the use of mobile phones, eating at home, etc. Calculate how much you will save annually from these cuts.
6. Stop using credit cards
Pay your purchase consumer goods with the money in cash, not credit cards. It is easier to buy something with plastic money because then you do not realize how much cash you have in your wallet. With cash, otherwise, you can monitor your real money supply.
7. Set aside for savings first
Saving should be your priority, so do not say that what you put into your savings is money remaining at the end of the month. You have to set aside some of your money as soon as you receive your income. For example, you can automatically transfer money from an account that you use to receive your income to your savings account.
How much money to save?
Where did you put the money?
How can you be sure that the money will still be there (not used)?
Here are the steps you need to do so that you can increase the amount of your savings:
1. Set a goal
For short-term goals, set goals can be easily done. If you only want to buy a game, you have to do is find out what it costs. If you want to buy a house, calculate the amount of the down payment that you have to prepare.
For long-term goals such as retirement, you should do a better planning (estimate how much money you need to live comfortably after retirement and investment and estimate how your savings will help achieve your goal).
In order for your goals can be achieved, then the first condition is that you must have is you do not have debt. If you have debt, your first priority is to pay off your debts. Once everything is paid off, the money you can use to start saving.
2. Set up a schedule
For example, I want to buy a home within three years from now. Set a date for the achievement of short-term goals and make sure that the goals can be achieved in that time. If not possible, then you will only be discouraged.
3. Determine the amount of money to be saved
Calculate how much money you will save in your savings per week, per month, or every time you receive a salary, to achieve your goal is. You should keep the same amount of money each period. For example, if you want Hajj 3 years from now, let's say the cost is 45 million, then you have to store a month Rp. 1.250.000, -. But if your salary amounting to 2 million per month, then your goal seems unrealistic, because ideally the savings is 30% of your income. What you should do is change the schedule in order to produce a more feasible scenario.
4. Record spending
The amount of money you tube is the difference between the amount of your income and your spending amount. Because you have control over the amount you spend, it is a wise thing if you look critically at your expenses. Record each month where you spend your money. Be as detailed as possible in your money supply, including small purchases. Then try to categorize the types of costs. For example: rent, car insurance, car maintenance costs, telephone bills, gasoline, food, entertainment, etc.
5. Cut your expenses
Look at the back of your expenses for 2 months back. It is surprising when you realize you are hanging out in the cafe cost of Rp. 2 million, Rp parking ticket. 500 thousand, and so on. Maybe you will find some of the costs that you can not trim. Based on the amount that needs to be saved, you need to take some tough decisions. Make it a priority and cut expenses smallest impact to your needs. For example, you can move to a cheaper apartment, reducing car usage, restrict the use of mobile phones, eating at home, etc. Calculate how much you will save annually from these cuts.
6. Stop using credit cards
Pay your purchase consumer goods with the money in cash, not credit cards. It is easier to buy something with plastic money because then you do not realize how much cash you have in your wallet. With cash, otherwise, you can monitor your real money supply.
7. Set aside for savings first
Saving should be your priority, so do not say that what you put into your savings is money remaining at the end of the month. You have to set aside some of your money as soon as you receive your income. For example, you can automatically transfer money from an account that you use to receive your income to your savings account.
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