Money Management for Students
Although students have to focus in their study but they are able to earn money with side jobs after class. Look around to your colleague. Surely you have canteen in the colleague. You can sell some snack there. Perhaps you don’t need to stand by many hours after class and renting a space. Just put your snacks on the canteen and tell the sellers about the price. The sellers in canteen may increase the price, so they also have profit.
After class, you can calculate the rest quantity of your snack. You also can calculate in weekly or monthly depends on your time. You can fry some tasty snacks on the weekend then put them on the fancy plastic. For example: making potatoes fried chips 200 pcs then calculate the rest quantity of these snacks at the end of the month. Don’t forget to calculate the omzet and profit. Put several percentage of your profit into your bank account. With this simple money management, you can earn money and use it for purchasing books or even continue your education. .
Do not make this side jobs as a reason to leave your lesson. Students also should manage money which they receive for their parents. Don’t spend all of the money!
Money Management for Couple
If you have been married, your money is her money, so does her money. Both parties’ money should be written into family accounting book. Decide together about the posts of expenses. If necessary you can make envelope system to separate the expenses. For example transportation expenses are in the orange envelope. Meal expenses are in the green envelope. Entertainment expenses are in the red envelope.
With these envelope system, both of you will be so easy to arrange family cash flow. This traditional method is very good to control your finance. If you want to skip this traditional method, you can use bank account method. Both of you should have same ATM which is only able to be withdrawn with certain agreement. You can make some percentage of financial management to withdraw money from ATM. For instance the money for meal can be withdrawn if not more than $100 per week.
If you already have kids, you must not ignore their needs. Do not only think about meal aspect, but think about their education and happiness too. You can plan holiday together if it doesn’t destruct your cash flow. Don’t forget to give several percentages of your salary to those who are unfortunate as a part of your sympathy.
Protect Your Valuable Asset Soon
Commonly, people will have one common goal in their economic life. It is the goal to achieve financial security. Being financially secured, people will feel more comfortable to face their life. It is a fact that economic problem can cause psychological depression. There are many people who become insane because of bankruptcy. That is why, financially secure becomes realistic goal in this unstable economic era. If we are financially secured, what should we do next?
Some people will face confusion when they achieve economic financial security. They confuse about what they should do next. A recommendation for you is that you need to make investment. Investment is a means to protect your asset in the future. If you have real big capital and you want to make investment in a bank, you shouldn’t invest your money only in one financial institution. You need to divide it to several banks that you can trust.
Besides investing your asset in banks, you also need to choose another form of investment. Gold bullion can be good idea. Instead of collecting jewelries, it will be better for you to invest your asset in gold bullion. The selling price will be more stable. Those are suggestions for you when you have achieved financial security.
Money Management for Purchasing Dream Vehicle
If you are still single, it is not a problem to use motorcycle for going to the office. The situation will change if you have been married with 3 kids. Surely you will not use motorcycle to bring each of them to the school until 3 times. Yes, you need a car!
Discuss with your spouse if both of you have decided to buy a new car. If you don’t have sufficient money to buy new car, then you can think about purchasing used car with good condition. How to buy new or used car without taking loan from bank or leasing? Well, you can do simple money management for this purpose. Firstly, calculate about down payment that you have to prepare. Mostly it is 30% from vehicle’s price. If you don’t have enough downpayment then you can cooperate with some advertising agency to promote their products with your car. Let them paint their products on your car as a mobile advertising. They will pay you as promotion cost. You can use this money for paying downpayment since most of this advertising cost is quite expensive.
For paying vehicle installment each month, you can have side job with your car. It is picking up students from home to school. So, you don’t spend a single cent for buying car, right?