.jpeg)
Many people, especially young people dream of being financially independent when they are 30. But, is it possible?
Launching Investopedia, it is not impossible to achieve financial freedom at a young age, as long as you are disciplined in managing your finances. In addition, you must have strong principles so that you are not easily influenced by other people's lifestyles.
Moreover, achieving financial independence cannot just happen, so you need to prepare yourself as early as possible. So what should be done in order to achieve financial freedom at a young age? Citing various sources, here are financial management strategies that you can apply.
Managing finances is basically not too difficult to do. The difficult thing is to limit the lifestyle so as not to overdo it. If you want to quickly achieve financial freedom, let's start saving from now on.
You can apply the principle of living below your means. Simply put, the principle teaches not to be extravagant, and live according to a large income.
Prepare Emergency Fund
Income every month should not be spent just like that. You need to set aside some for an emergency fund.
This is necessary to guard against all possible bad things that will happen in the future. Ideally, the emergency fund amount is at least 3 to 6 times your monthly expenses depending on the number of dependents.
The next tip is no less important in achieving financial independence. Yes, it's right to invest. For beginners, you can start learning about the types of investments, then try the one that you think is most suitable.
However, it is better to choose investment instruments that tend to be stable and have a fairly low risk, such as mutual funds and gold.
Record Expenses
No less important to do is record expenses every month. Because if expenses are not tracked, it can hinder the achievement of the ideals of financial independence at a young age. In addition, tracking expenses also avoids wasteful habits, you know.
Now, keeping track of daily expenses is not difficult, for example with BigPay. There are many advantages to opening a BigPay account on your mobile. Managing finances is easier and more practical because BigPay accounts help record daily needs, from transportation, meals, to bill payments.
In addition, finances also become more tidy and organized. Because you can create or add BigPay specifically for spending, saving, or creating a pocket with friends or family.
Not only that, top-up between BigPay is also free of charge. So it's more economical! What's interesting, you can get RM10 if you register for BigPay now by using the promo code KDDGUDUKXB. So, what are you waiting for, hurry up and register, don't miss another interesting promo!
Hey! Use my code KDDGUDUKXB to sign up for BigPay and get RM10 when you activate your card. Enjoy great exchange rates for overseas spending and international money transfers! There's more but I'll let you experience it for yourself.
Sign up at http://bigpay.link/referrals