Financial Blog

Strategies to Manage Finances Well

A good way of managing finances is the beginning to prepare for a resounding future. Because without a good strategy, the money you have can even run out.

Many stories prove this. One of the experiences of NBA star Antoine Walker, who earned $108 billion during his career, was declared bankrupt and instead hoarded debt in 2010.

Quoted from CNN, he claimed to spend a lot of his money on ins and outs like buying luxury goods. Many similar cases are due to wasteful management of money, likes to buy the wrong assets and spree.

The FCIAL team summarizes some tips on managing finances well to create a happy future. The tips below are shared with you.


After earning a monthly salary or other income, you should immediately start saving regularly. FCIAL’s saving tip is to set aside 20% of your income for savings. That savings can be your preparation in case of unexpected things like illness or other problems.

Well the difference from that savings is that you can use it for other daily needs. You can also spend it to explore for a moment avoiding the boredom of your work routine. This can not be forgotten also because stress will affect the mood of work.

Have a Budget Expenses

Having a budget is one way of managing finances. The intake is like water flowing in a pond and can be exhausted if used continuously. You should have a budget to spend so that the savings are still left. Okay, this might feel boring having to write down expenses on a note. If you don’t want to bother, you can start recording them in digital apps that can be downloaded on your smartphone. You need to start tracking your shopping habits and sorting out which budgets are important and not important.

Shop Carefully

Careful shopping is also part of good financial management. Before shopping you can do research through the internet to find out the price difference between one and the other. After that you can choose the cheapest one.

In the digital age, the ease of information is a blessing for consumers. This you should take advantage of to look for objects with friendly prices in the pocket. By buying cheap goods, the rest of the budget can be used for other purposes or saved.

Limit Credit Card Use

Having a credit card is no surprise anymore. Credit cards have many functions when you’re traveling abroad or shopping when you’re in an emergency. But using a credit card excessively can damage your finances because later the income is only used up to pay installments that are usually accompanied by interest.

The use of monthly installments should be limited to 30% of income. It’s a healthy financial measure according to financial management experts. If more than that, it is feared that income is running out for leisure activities and even can not save.

Investing Gradually

After applying the above ways in a disciplined manner, you can start to invest gradually. Set aside some savings to deposits, stocks or other instruments such as mutual funds, P2P. You can also monitor these investments for short or long term purposes.

For short-term purposes, you can withdraw your investment within a year or three years. Different situation if long term. You can withdraw investments of five years or more for long-term benefit. Ultimately understanding managing finance becomes an important part for a happy future. You can start doing it from now on to get used to it.

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