Whatever you have prepared to welcome new Year? Surely the gathering with your family or closest friends has become one of them. So many events, plans, and certain moments are prepared so that the new year can be welcomed more interesting and meaningful, right? However, have you tried financial reflection at the end of the year? Make this opportunity so that you can see again what you have achieved, and what steps should be taken to correct any mistakes made during the past year. Let’s start to do financial reflection on the following 5 points:
Have You Allocated Monthly Money with Discipline?
To do a financial reflection of this section, you can start by remembering whether the income earned each month is enough and can still be saved, or is it never enough? There are two possibilities why the allocation of monthly money is never enough: the salary is indeed insufficient, or even you who lack discipline in using the money. If indeed your income is insufficient, then maybe you can consider looking for a new job / asking for a raise, another step you can do is look for additional income. Some examples that you can do are by selling used goods, being sensitive to seasonal business, or maybe by becoming a freelancer. ( Also read: Take advantage of the Referral Program as Additional Income)
If your monthly money allocation is always insufficient because of lack of discipline, what needs to be improved is your shopping habits. If all this time you often shop impulsively because of the temptation of discount promos here and there, then it’s a good idea to hold it back. The absence of self-discipline in allocating monthly money will only make you feel deprived, and life becomes uncomfortable, right? Start the new year by reducing these bad habits, and start developing good habits such as saving money. (Read also: Tips for Not Wasteful When Shopping at a Bazaar / Exhibition)
Have You Made Peace with the Financial Capabilities You Have?
One of the causes of shopping and living consumptive habits is because someone often
assume that he is able to live the lifestyle he wants. Though he should have to look again to the extent of the financial capabilities he has. If you belong to one of them, then you must be able to be aware of your abilities. Have a self-conscious attitude to the ability of monthly income that you can get with control in shopping that you do. Be honest with your own abilities, and of course don’t forget to be grateful for the abilities you have.
When you have a high lifestyle, usually the temptation that often arises is peer pressure. Don’t hesitate to say refuse, when your friends invite you to shop or eat at expensive restaurants. To work around this, you can invite friends to gather at home, or even delay meeting until you have a stable and sufficient cash flow. (Also read: Types of expenses that must be reduced)
Have You Allocated Emergency Funds for the Last Year?
Emergency funds are often a matter of little concern. People always assume that having savings is enough, without having to pay attention to emergency fund allocations. Usually these funds are mixed with savings without any restrictions. In fact, if you do not separate emergency funds from savings, chances are you are using a savings account and are allocated for shopping is very large. Often when you are unconscious, you think you still have a lot of savings funds that can be used for shopping. In fact, these funds are actually leftover emergency funds that should be saved if there is an urgent need.
Have You Wisely Used a Credit Card?
Having a credit card does not mean you have to use the card as a daily payment method. Even though you currently have a job and a steady income, that doesn’t mean you have to use a credit card to the maximum extent. The lack of control in using a credit card can make you trapped in debt, which of course is very uncomfortable. The inability to pay credit card bills can later make you more stressed because of the pursuit of debt collectors. Therefore, while there is still time, it’s a good idea to take advantage of the opportunities available using credit cards wisely. Start the new year with a new habit of always using cash and debit cards, to avoid using credit cards.
There Is Always a Way Out for Everything …
If there are still many reflections that you haven’t done yet, don’t worry because there is still a way out that you can do to improve everything. This can be used as homework for the new year so you can be more disciplined in using monthly money allocations so that it is far from consumptive. Don’t hesitate too to reduce living standards more economically. You can start it for example by starting a new year by going to work using public transportation, so that more money can be saved and allocated to other posts.
One more thing, if you are not wise in using a credit card and instead make you become entangled in debt, there is still a way out for you. Currently you can take advantage of the debt management program provided by March Hare. One of the services provided in this debt management program is to negotiate the credit / credit card debt that you have in order to get relief. How did it happen? Because March Hare has experience in conducting negotiations and already has good relations with the bank. Not only that, consultant March Hare also understands the financial conditions that are usually experienced by those who are in debt. So, you can get advice about what steps you should take to get rid of debt faster with a new perspective so that life can be more economical and better prepared to start a new start.