Additional income can come from a variety of sources. It could be that you work part-time (freelance) in addition to your main job. Or it could be that your boss gives you a bonus because of your improved work performance. Such additional income may be very tempting to spend, whether on shopping, vacation or partying. However, it would be better if you also regulate its use to be more effective.
The following are the steps you can take to manage the use of additional income. Arbitrary? Here it is.
1. Create Priority Scale
Arranging additional income needs to be done because it is feared that you will unknowingly spend it just like that. Especially in this day and age, with the many advertisements and product promos from well-known companies that cause consumptive behavior among the public. Therefore, create a priority scale based on the utilization of money from the most important and urgent to the not urgent.
First, pay off the debt if you have it, no matter how small the debt. Paying off debt will make your life quieter. The advantage of you paying debt early in time is to grow trust in the party that lent you money. That way, if next time you want to owe it again, he will easily grant it.
2. Put it in a Savings Account
It is common knowledge that someone with a better result has two accounts: for savings and operations. When you get additional income, be sure to put it in a savings account. This is to prevent you from being tempted and spend it on things you don't really need. It would be even better if your savings account is not facilitated with a debit card. Access to it is limited.
3. Make Funds Unexpected
Life often holds a mystery. You never know when you will experience an extraordinary disaster or event outside your guess and power of attorney, such as a car accident or getting sick. With the allocation of additional allowances for unexpected funds, it will make your life quieter. However, if you feel that the funds are saved too much, you can use it to travel somewhere to refresh the mind. Or it could be that you use it for course fees and explore hobbies or pursue higher education.
4. Making Business Capital
Maybe you've thought about trying something new and starting an independent business. If true, now is the time to try. However, you also need to understand the effort you will be doing. Often people are not serious about starting a business and just make it as a keisengan. It will only waste your money. If you are sure, look for further references related to the business that you will start. You can also invite colleagues to work together. Usually starting a joint venture will be more profitable and fun.
5. Increase Investment
Making extra income to strengthen investments is a very good idea. You may be able to invest it by buying gold. Suppose you want jewelry for you to wear. However, of course the decoration of its value is not greater than investing in gold coins or bars. In addition, if you want to try the challenge, you can move on to larger investments, such as bonds, mutual funds, or stocks. Understand the benefits and risks you will bear before allocating your funds to invest.
6. Sharing
Maybe during life, you feel like you haven't given anything to your parents or siblings. For that, you can give some of your additional income to your family. It can be cash or gifts that make them happy. It would be better if the gift you give has usability value. In addition, you can also share with others. Who says charity makes you poor? Charity will actually open the door of your sustenance. Your feelings are happier and easier after sharing.
In addition, charity makes you an immaterialistic person. Be for those closest to you and those in need. It can be by visiting an orphanage or just visiting a nursing home. Or if you want to be more practical, you can entrust your additional income to a trusted charity.
Discipline and Obey the Allocation of Plans Made
The most important thing here is that you must be disciplined in organizing and obeying the allocation of the plan made. This means that you shouldn't enjoy your extra income for fun, but do it all in the right measure and fit. That way your additional income can, you can feel the benefits.
Good luck!
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