Entering the workforce after graduating from college is a stressful and challenging phase. One of the biggest challenges faced by fresh graduates is how to manage finances wisely. Managing finances well from the start will help you achieve financial stability in the future.
So that you have good financial knowledge and can achieve success at a young age, let’s look at some tips on how to manage finances at the beginning of your career as a fresh graduate below.
- Prepare a Fund Allocation Plan Every Month
The first way to manage finances for fresh graduates is to make a plan for allocating funds every month. This plan will help you determine how much money should be allocated for primary, secondary, and tertiary needs.
Having a clear allocation plan can avoid unnecessary expenses and ensure that all essential needs are covered. Make sure your plan covers food, transportation, rent, savings or investment, entertainment, and don’t forget your emergency fund.
As a fresh graduate, it is important to be disciplined in following this plan to avoid waste. Remember that saving for the future is one of the keys to success in how to manage fresh graduate finances
- Record All Income and Expenses
Recording all income and expenses is one way to manage effective fresh graduate finances. Recording every transaction will make it easier for you to monitor where your money is used.
In today’s digital age, you no longer need to write every transaction manually. There are many financial applications that can help you record income and expenses easily.
This tool will help you see income and expenditure patterns and adjust them to be more in line with your financial goals. How to manage fresh graduate finances is very important to keep expenses under control and in accordance with the budget plan.
- Simple Living is the Way to Manage Finance for Fresh Graduates
As a fresh graduate who is starting to have your own income, the temptation to follow a consumptive lifestyle is very great indeed. However, it is important to remember that financial success is not determined by how much you spend, but by how wisely you manage it.
Living simply means prioritizing needs over wants. Focus on the things that really matter and avoid impulse purchases. By living simply, you can save more and prepare yourself for a better future.
- Don’t Focus on Other People’s Lifestyles
Comparing yourself to others is a common occurrence, especially in today’s social media era. However, as a fresh graduate trying to keep up with money management, it’s important not to focus on other people’s lifestyles.
What is seen on social media often does not reflect the reality. Instead of comparing yourself to others, focus on your own financial goals.
Everyone has different financial conditions, and it is best to plan your finances according to your own needs and abilities.
If you do not focus on other people’s lifestyles, then managing finances wisely will be much easier and faster to achieve the financial goals you have set.
- Avoid Relying on Money You Don’t Have
Relying on money you don’t have, such as using credit cards or loans, can be a dangerous trap. As a fresh graduate who is trying to manage finances, the best way is to only use money that is already in your budget.
The use of credit cards or loans can be very tempting, especially when you want to buy something that is beyond your current ability. For this reason, you need to measure your financial capabilities so that you don’t get trapped.
- Don’t get into debt! This is an important way to manage fresh graduate finances
Another important way to manage fresh graduate finances is to avoid getting into debt. Debt can be a big obstacle in achieving financial freedom. If not managed properly, debt can accumulate and become a heavy burden in the future.
It’s best to avoid debt and focus on managing the money you have. Although there are many temptations to get into debt to fulfill your lifestyle and desires, try to avoid it at the beginning of your career as a fresh graduate who wants to manage finances.
If it is urgent and you have to get into debt, then make sure you can manage payments well and not take more debt than you can pay. Prioritize paying off existing debt before adding to your financial burden.
- How to Manage Fresh Graduate Finances by Learning to Invest
Investment is a powerful way to manage fresh graduate finances to build better finances in the future. Start learning about various investment instruments, such as stocks, mutual funds, or gold. Even though you are still new to the world of work, it’s never too early to start investing.
Investing will make your assets grow over time, unlike just keeping it in savings. Start small and learn how investing works before making bigger decisions.
You can start investing with instruments that have minimal risk but can generate maximum returns in the long run such as gold. As a fresh graduate who has a lot of activities, of course you want an investment that is easy, flexible and affordable, right?
Well, that’s just right! Treasury is the first digital gold transaction platform licensed by BAPPEBTI and registered with KOMINFO. In addition to being guaranteed safe, digital gold investments at Treasury can start from as little as Rp 5,000!
Not only that, Treasury also offers a variety of interesting features such as Jamimas, (loans from gold savings), Gold Harvest with gold bonuses reaching 9% p.a, FREE gold storage and transfer, and many other special promos and prizes.
Managing finances from an early age is key to achieving financial success in the future. By applying how to manage finances for fresh graduates, you can build a strong foundation to achieve financial goals in the future.
Avoid the temptation to get into debt and don’t be too influenced by other people’s lifestyles. Focus on your own financial goals and make wise decisions for the future by starting to invest in digital gold at Treasury!
