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Have you started thinking about financial planning or financial planning strategies in this year? Yes, don’t just think about chinese specialties when the festivities arrive, but also think about financial resolutions. Financial planning is often considered a difficult activity to realize. Moreover, by students who do not have their own income or who already.
For students who already have a job, frequent problems such as monthly income that feels quickly exhausted and do not have any impact. But actually, students can make their own financial planning or financial plan.
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How is Financial Planning Good for Students?
for students who do not have their own income usually have problems with the inability to control desire. Pocket money from parents quickly runs out just to satisfy desires that don’t actually include primary needs.
Most students are caught up in the hedonistic attitude or the act of prioritizing material pleasure and pleasure as a goal. Examples of hedonistic attitudes such as over-pushing themselves to follow fashion or technology trends regardless of financial condition.
Following the trend is not the wrong thing or bad, but if we do not pay attention to financial conditions and consumptive attitudes, then we will ultimately seem wasteful for using money at the wrong time.
From the many desires such as following trends and so forth, surely we as students have dreams and other great desires that you want to realize. Like wanting to buy a laptop, or continuing a higher education such as S2. And we all know that to realize a desire or dream like this must cost a little
In general, people must have a desire and have the opportunity to realize the dream. Money is not everything, but in realizing dreams and what we want we definitely need money. Therefore, in addition to dreaming of many things, we also need to make plans to realize what we dream of.
The Year of the Metal Buffalo Could Be the Beginning of Financial Planning
Therefore, we must start to develop financial planning strategies to realize our wishes. In addition, financial planning is very important for those of us who are students who run education in overseas. Before we delve into financial planning strategies, it’s a good idea to first know what they mean.
Financial planning is an English term meaning financial plan and has broad meaning as a business or process carried out by a person to realize his financial goals by developing and implementing them through a good financial plan.
From the definition of financial planning above, there are actually some important implied points that are necessary in implementing a financial plan. Some of these important points are:
- We must have financial goals to achieve (e.g. buying a laptop, dictionary, or handbook). This is necessary in order to further motivate us to do financial planning.
- Because the financial plan is a process, then we definitely need a certain period or period in order to realize the financial objectives.
- Have a clear and easy action plan or action for you to implement.
- Plan funds when you want to follow up on the action plan.
- We must be aware of several risk factors related to the use of funds or resources.
The points are related to each other. If one of them is not run or unavailable, the financial will not run properly. If the financial planning that we run goes well and clear, then it will make it easier for us to realize our financial goals.
Action Plan For Financial Planning
Any plan or dream definitely needs to be notan or action. The following are the action plan strategies in financial planning:
1. Make a Simple Financial Note
This simple financial record is necessary to record all income and expenses. It is good that the amount of income is greater than the expenditure. This is done agas we can find out how we manage the existing money.
2. Do Financial Planning By Saving
Since childhood we’ve been taught by our parents to save money. Saving money can be done from small things, such as saving change when printing tasks or setting aside a little money from our daily allowance. This is done so that we can get used to not being extravagant.
3. Setting Aside Reserve Funds
The reserve fund is actually the same as saving, only for it to be different. Saving to realize a desire that costs a lot of money, for example to buy a laptop. While the reserve fund becomes a standby fund in case of unexpected events.
4. Distinguishing Needs and Desires
Often we find it difficult to distinguish between desire and need. In fact, it is not uncommon for us to often classify desire as a necessity, when these two things are very different.
Needs can be classified as things that you need to prioritize, while the desire is classified as a secondary need or you can number two. We have to start controlling our desires like shopping for things we don’t actually need and reducing the intensity of our hang-outs to expensive places.
5. Determining the Type of Expenses
Determine the type of expenditure included in the creation of financial records to maximize financial planning. Noting this type of spending is very important for us as students who have a lot of spending.
Such as for transportation, buying other small necessities, paying rent, buying food or buying stationery. This you need to do so that the money we use is not exhausted free and more planned
6. Know the Pattern or Source of Income
we need to know the pattern or source of income from the funds we have. Most of us must still get financing from parents, but there are also those of us who already make money ourselves by working.
We have to manage the money properly, because if it is not so then it could be that the existing money runs out quickly without the right benefits. Therefore, it is good if we detail the income of funds that we get each month and set the allocation.
Thus the financial planning strategy this time, hopefully useful.