Payday is a long-awaited day for workers. The list of bills is waiting to be paid. Salaries often just pass by, and sometimes we forget to spend the money for investment. Even though you earn a minimum amount of wage, if you plan and manage your finances properly, you will be able to invest and save some of your salaries.
So what must be done by workers who earn a minimum amount of salary to be able to invest?
Write Your Monthly Expenses
The first thing that you have to do is record your monthly expenses so you can have a picture of how you spend your salary. The recorded expenses are then grouped into living, saving, and playing.
The 'living' category includes zakat/charity, living expenses, consumptive installments, and transportation costs. Meanwhile, 'saving' consists of mortgages, emergency funds, investments, insurance protection, vacations, or other purposes. While 'playing' is a budget for lifestyles such as entertainment, shopping, snacks, hanging out, etc. If you already know your expenses for a month, then it is time to evaluate whether the expenses are in accordance with the priority scale. Do not let your lifestyle exceed your earning capacity.
Make a Budget
A simple method for making a monthly budget is to implement the 50-30-20 method. This means that the budget for living is 50%, for saving is 30%, and for lifestyle is 20%. This is just a planned budget, which means that you do not have to spend your entire budget. Even though you have an allocation of funds to pay installments, if you do not have installments, then the money can be used for savings or investment.
Determining the Risk Profile and Appropriate Investment Instruments
You need to recognize your own risk profile before starting to invest. There are aggressive, moderate, or conservative investors. This risk profile helps determine what investment instrument is suitable for you. After knowing the risk profile, the next important thing to know is the investment time horizon, whether your investment goals are short, medium, or long term. This time horizon difference will certainly be a consideration in choosing investment instruments.
Mutual fund investment is one of the investment instruments that can be considered to achieve financial goals in accordance with your time horizon. Mutual funds are investment instruments that collect funds from the public, which will later be placed in a securities portfolio by the Investment Manager. If you are interested in starting mutual funds investment, then you can choose from a wide selection of mutual fund products at PermataBank. You can even start from IDR 100,000.
Some of the advantages of mutual funds investment at PermataBank are:
- Investment Diversification
Investing in Mutual Funds provides benefits in the form of investment diversification and risk distribution by investing in several investment instruments. You can still invest in mutual funds with a small amount of money. - Professionally managed
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