In this new normal era, there are many things to adapt to, starting from daily habits to financial management strategies. There are at least 5 (five) financial strategies you can try:
First, review your financial condition. In this new normal era, your expenses may have increased. This is time for you to review all of your regular expenses and cut the unimportant things.
Second, separate needs and wants. This is well-known by people, but the fact is not many people can put this into practice. By separating the two, you will know what things you really need, so you can use your money wisely.
Third, do not stop saving for your emergency fund. You must be committed to collecting your emergency fund. An emergency fund is crucial because it can become your savior during rainy days.
Fourth, look for additional income. When your expenses increase, you can balance them by looking for additional income. In fact, there are currently many new businesses appearing and you can also try to start your own business.
Fifth, shift from cash to digital or cashless. There are many benefits of doing cashless transactions, such as:
- It is recorded
By doing cashless transactions, your expenses will be recorded. Even with internet banking, you can manage and control your expenses easier. - Promos
There are many promos you can use for making cashless payments. If you can make transactions and save money, why not? You can check here to find out the latest promos from BCA.
Making cashless transactions also minimize physical contact usually happens when using cash. Therefore, it will reduce the risk of Covid-19 transmission through money bills.
Source: smart-money.co
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