The millennial smart way for financial management


Hello net, this time the admin will discuss about being smart millennial in financial management. Finance becomes one of the important foundations in life, especially for the future to come. Proper financial management will certainly have a good impact on our lives in the future. However, unfortunately the generation of millennials who tend to prefer to enjoy life for now only. Most do not really understand about preparing finances for a better future.

Even though over time there will be many things that need to be realized. So it is important for easy people today to learn the right financial arrangements. Millennial generation was born in an era with easy access to financial institutions. Millennials are the first generation to grow with computers and the internet, so it is easier for millennials to learn the financial sector quickly and apply it to life. To invest, millennials only need to access everything they need through the internet on their gadgets.

A dynamic lifestyle plus a lack of financial management knowledge makes them millennial find it difficult to manage finances. Some millennial also still has difficulty in managing their finances according to the priority scale. Then, how smart is millennial to manage finances appropriately? First, the success of managing finances is determined by discipline to maintain the consistency of a thrifty and smart lifestyle. Saving life is different from being stingy. Saving life is being able to prioritize needs above desires and manage the fulfillment of needs with quality things efficiently. So, a frugal lifestyle does not mean suppressing expenditure so it does not pay attention to quality, but regulates expenditure according to need and balanced with income.

Second, try not to have debts. Avoid consumptive things by checking our financial condition. Do not because the desire to appear because they make us owe. If you want controlled finance every month, can use the financial management application. Finally, making financial planning on a priority scale. The trick is that you can apply the 40-30-20-10 formula in a financial plan. 40% is the budget for daily needs, 30% for debt needs, 20% for investment and savings, and 10% for social needs. Most importantly, even though the financial plan is perfect, we still must not forget the emergency fund for these unexpected things.