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7 Ways to Manage Personal Finances Smartly and Precisely

Admin BFI
19 January 2022
7 Ways to Manage Personal Finances Smartly and Precisely

Entering adulthood is the right time to manage finances wisely. As we get older, it also requires us to be smarter in choosing what we need or just wants. The greater the income earned does not determine someone in a stable financial condition. If a person cannot manage finances properly, then they will always be trapped in the wrong lifestyle. How to manage the finances of each individual must be different according to the conditions and abilities faced. At the very least, in this article, you will get an idea of ​​how to prepare for a safe and desirable future.

Here are 7 ways to manage the right finances in the style of BFI Finance to prepare a bright and happy future:

1. Saving

The proverb "Diligent at the base of cleverness, save at the base of the rich" is true. This proverb teaches us to be able to apply the culture of being diligent in saving and living frugally. We cannot predict what will happen to us. So, it would be wise to be able to set aside what percentage of the income we receive for savings.

If you need direction on how to save properly, try using the “Kakeibo” (Japanese art of saving) method or allocate 20% of your monthly income to savings accounts.

2. Create Expenditure Details

Make expense posts every month so you can easily track where the money you spend is going. For example, make expenses for daily meals, shopping for primary needs, paying off debts or installments if any, entertainment needs, and so on. You can use an existing financial management application or record it manually in a notebook.

3. Start Investing

To prepare for a bright future, taking steps to invest is the right decision. There are many investment instruments that you can use, including stocks, bonds, gold, mutual funds, and others according to the type of risk level that arises. As a start, choose an investment instrument that has a low level of risk.

As you get older, the results from investments that have been planted early will definitely be very beneficial.

4. Pay off Debts and Installments on Time

For those who have debts or monthly installments, such as mortgage and credit card installments, pay off on time. This is done so that we are not charged interest that is too high and to keep our credit score in good status. If you have credit card installments, try to always pay in full, not with the minimum payment amount. This is done to prevent us from being too consumptive.

5. Provide Emergency Fund

Emergency funds are funds that are prepared to anticipate unexpected and urgent things such as accidents, illness, or conditions when there is no source of income. The amount of each individual's emergency fund is different, but generally, it is 10 times the monthly income we receive. Separate the emergency fund account with the daily necessities accounts so that the emergency fund is not used.

6. Wisely Use Credit Cards

Credit cards make it easier for us to have goods by installments every month. However, the use of credit cards must also be controlled according to the portion and not used for overly consumptive purposes. As for tips for using a credit card wisely, try to pay the installments every month in full payment. In addition, do not even lend a credit card to your relatives. Because if it has changed hands from its original ownership, it will be difficult to control where the credit card expenditures are going.

7. Prepare a Pension Fund

Finally, you may be able to plan your needs when retirement comes. Retirement is a time when we are not required to find another source of income, but a time to enjoy old age. You must also be able to adjust your lifestyle when retirement arrives in accordance with your conditions and abilities. If you plan to retire at the age of 55, then you have approximately 25 to 30 years to prepare the pension fund.


That's how to manage finances properly and correctly that BFI friends can run. Indeed, the process is not easy, but still enjoy the process and remember the final goal to be achieved. Always enthusiastic about preparing for a better future!

Kategori : Gaya Hidup