Since starting work, many people begin to decide what to use the money they receive and how to manage it.
Not a few workers spend their money just to fulfill daily needs and tertiary needs such as staycations, healing with office friends or just getting coffee at Starbucks every lunch hour.
And the most frightening thing was, when the end of the month arrived, it turned out that he only had a few Rp. 10,000 notes left in his wallet.
Armed with courage, the money warriors here will try to reduce expenses to the extreme at the end of the month, so that until payday arrives, they can still survive with just enough money.
As a result, investment funds to prepare for something in the future such as pension funds, wedding preparation funds, children's education costs, and other future costs cannot be implemented properly.
How to Manage Future Finances for Workers Through Mutual Fund Investments
By looking at these conditions, here are some tips for beginners in managing finances so that future financial planning is more organized.
1. Know your sources of income and savings
Before investing, you must know the source of the monthly income you generate from anywhere and how much in total.
Then, with the savings you have, you have to know what plans will be implemented in these savings.
After knowing both, try to find out your goal of saving all this time. Is it only for one purpose or combined with other purposes.
2. Recognize investment objectives
It's best, before making an investment, you should know what your investment goals are before choosing a random investment.
Investment goals can include retirement funds, children's education costs, wedding costs, house building costs, motorbike buying costs, laptop buying costs and so on.
You can decide from now on according to the needs you are currently experiencing. so you know whether the costs are for the long term or short term
3. Choose the Right Investment Instrument
When you have determined your investment goals according to your needs, you can look for investments that suit your needs.
For beginners, it would be advisable to use mutual fund investments with low risk and low returns so that at the start of investing you don't think too much about which shares to buy.
Mutual fund investments also have several levels of risk, such as money market mutual funds with low risk and return.
Then there are bond mutual funds with moderate returns as well as moderate risk, higher than money market mutual funds.
At the top level of mutual funds, there are stock mutual funds that have high risk with high returns too.
The advantage of saving in mutual funds is that you don't have to worry about which funds you invest to allocate to sukuk or shares
4. Consistent
Before saving consistently, don't forget to check your mutual fund platform, whether it is official and protected by the OJK or is it a fake application.
Never trust people who offer investments with high returns and low risk.
Lastly, consistently saving will make it easier for you to manage your finances well.
The ability to resist the temptation to be extravagant today will save you from poverty and confusion in managing your finances in the future.
One of BMoney Privilege's customers, Raymond Giovadius, who managed to achieve success and financial freedom at a young age, shared tips for successful investing.
Raymond said that if someone wants to start investing, make sure to prepare themselves starting from knowing what assets they want to use as investment assets in detail. If you invest in shares, you need to understand the issuer you want to invest in.
"Secondly, mentally we have to think in the long term, don't think in the short term. That can provoke us to want to get rich quickly, even though all investments are for the long term, rarely for the short term," said Raymond at the Money Buzz event, Tuesday (31 /10/2023).
The final tip according to Raymond is that investors must know what assets they are investing in, from risks to details such as studying the company, brand, product, and even the company's financial reports.
On the same occasion, Raymond revealed that his initial investment was with forex trading, which is known for its high risks but also high profits.
Raymond added that forex has such extraordinary price movements that according to him even forex assets may not be the right asset for him.
This investor shares his investment experience and forms his own character
Previously reported, BMoney Privilege customer, Raymond Giovadius, who achieved success and financial freedom at a young age, shared investment experiences that had an impact on his character.
Raymond revealed that he had invested in forex assets, but at that time his understanding of investment and finance was still immature and he experienced large losses.
"Suddenly I was tired, I could say I didn't sleep and thought I had been working for several months but this and other things, it was really hard at that time," said Raymond on the Money Buzz program, Tuesday (31/10/2023).
After this incident, there was something that had an impact on him, namely becoming a person who could better mitigate risks.
“Maybe I attribute this a little to my job as a Project Manager, which is no stranger to risk. "So wherever in everyday life the risk is there, it just depends on how we mitigate it," said Raymond.
Raymond added, the thing that needs to be highlighted in investing is that when the profits are big, the risks are big. Likewise, if the risk is big, the profit will be big too.
On the same occasion, Raymond also shared tips for successful investing, one of which is that if someone wants to start investing, make sure to prepare themselves starting from knowing what assets they want to use as investment assets in detail. If you invest in shares, you need to understand the issuer you want to invest in.
Tips for Optimal Earnings for Gen Z and Millennials
Investment is one of the activities that is considered important for society. This is because investment offers many benefits, starting from helping financial goals and growing wealth so as to beat the rate of inflation so that consumer purchasing power is maintained.
So, what are the tips for making optimal profits for Generation Z (Gen Z) and millennials?
Ashmore Asset Management Indonesia VP Sales and Distribution Felicia Iskandar believes that investments that are safe and in accordance with the risk profile will provide a comfortable life for investors. Because, not only do you get profits, you also get a sense of security in investing.
"The way to collect a lot of money quickly is again, we have to work and invest simultaneously," he said in MoneyBuzz with the theme Safe Investment for a Comfortable Life, Tuesday (12/9/2023).
According to him, the investment instrument that is most easily accessible due to easy access to information today is the capital market. Apart from that, investment instruments that require more small capital are also in the capital market, for example mutual funds, bonds and shares.
Regarding the investment composition, Felicia divides it into two, namely for those who are married and those who are not yet married or have children.
"If you are single (not married) or under 25 years old, 70 percent of your income can be invested, 30 percent can be self-rewarded which is comfortable," he said.
The hope is that 70 percent of this income will provide profits in the future. So, when they have a family, the investor can still live comfortably according to the lifestyle they need.
"For those who are married, invest at least 40-30 percent more, the rest is for other needs (installments and others)," he added.
It is important to remember that the ideal or reasonable return is higher than inflation. If inflation is in the range of 3-7 percent, it is hoped that investment returns will be at least 8 percent from the diversification carried out.
"It could be luxury items, capital markets, hopefully it can provide a return of 7-8 percent (above inflation)," he said.
Thus, Felicia reminded investors not to be lulled by investments that provide high returns, aka unreasonable ones. As a result, investors need to choose safe investments and monitor their portfolios.
Is this your first time getting to know investing? If so, mutual funds could be a suitable choice for you because their assets are diversified and managed by professional investment managers.
Apart from that, mutual funds are official investments supervised by the Financial Services Authority (OJK) so you don't need to worry about losing your money. And for investors with limited capital, mutual funds are also the right choice because they can be purchased with capital starting from IDR 100,000.
So which mutual funds do you want to buy? Eits, wait a minute, don't just buy it without reading the following
Investment tips
1. Recognize the Risk Profile
When investors want to invest for the first time, it is best to first know their respective risk profiles. If the investor already knows in advance about the ins and outs of the investment world, the investor is likely to have a high risk profile (aggressive).
On the other hand, if the investor is a beginner and does not understand the world of investment, his investment profile will be conservative. However, if you understand a little and understand the risks but cannot tolerate large losses, the investor profile can be said to be moderate.
2. Set an investment goal or time period
Furthermore, after knowing the investment risk profile, investors can set investment goals for the short, medium or long term. For example, if you are a moderate investor, you can allocate 50% of your investment funds in fixed income mutual funds for medium-term funding needs.
You also have a 20% portion in stock mutual funds. Meanwhile, to meet long-term needs, you place 30% in stock mutual funds.
3. Suitable Investment Instruments
Equity and share mutual funds are investment instruments with high risk so they are best held for the long term.
Money market mutual funds are also low-risk investment instruments. Money market mutual funds have funds placed in deposits, Bank Indonesia Certificates (SBI), or State Treasury Letters (SPN) which are SBN with a term of less than one year.
On the other hand, an example of an investment instrument with moderate risk is a mutual fund with debt securities, namely a fixed income mutual fund.
4. Diversification
Don't put all your funds in just one asset, to spread the risk. You as an investor can create a portfolio consisting of several mutual fund products, based on type and time period.
Apart from that, you can also create a portfolio according to your risk profile. For example, for a conservative beginner, put 60% in money market assets and 40% in fixed income mutual funds. For those who are aggressive, you can put 70% of your funds in stock mutual funds, 20% in fixed income and 10% in the money market.
5. Research
Always do your own research (DYOR) to identify the assets you buy. For example, starting from the investment manager who manages it, what the portfolio contains, licensing aspects, to its track record of performance. This is important so that you don't just follow along (FOMO).
Bareksa Mutual Fund First Transaction Promo
Are you sure which mutual fund product you want to buy? The Bareksa super app offers mutual fund products from various asset classes that you can choose according to your risk profile and financial goals. Apart from that, there is an attractive promotion with mutual fund voucher prizes worth IDR 25,000 each for 400 winners.
How to get the prize is easy, just buy mutual funds for a minimum of IDR 300,000 using the promo code 1STNOV23.
Bareksa First Transaction Promo Terms and Conditions
1. Promo period only 3 November 09.00 - 30 November 2023 23.59 WIB
2. Purchases apply specifically to the FIRST TRANSACTION of Mutual Fund products by entering the promo code 1STNOV23
3. Minimum purchase IDR 300,000 (multiples do not apply)
5. Funds may not be disbursed until December 30, 2023 at 23.59 WIB.
4. The promo program does not apply to Bareksa employees
5. All investors who meet the criteria are entitled to win prizes
6. Bareksa will announce the winner on January 17 2024 via email.
7. Prizes cannot be cashed or transferred
8. Bareksa's decision to determine the winner is absolute and cannot be contested.
9. All gift taxes are borne by Bareksa
10. Bareksa can cancel the winner if the investor is proven to have committed fraud, or cannot be contacted.
Is it really permissible to invest that money? Yes, yes, if you invest in Bareksa and make transactions using the Danamon Direct Debit feature, you can gain a lot of benefits. Not only can you gain potential profits from the results of your investment performance, but also a number of other benefits.
Therefore, you can open a new account at Bank Danamon or called Danamon Save via the Bareksa application, which you can use as a payment method for investment transactions on the first integrated investment super app in the country.
Danamon Save is a digital savings account that can meet all your digital transaction needs. You can optimize your money for other needs, because Danamon Save has no admin fees, no transaction fees and no cash withdrawal fees.
By opening a Danamon Save savings account, you can achieve 9 benefits:
1. Initial deposit IDR 0
If so far you have had to make an initial deposit to open a savings account, then that does not apply to Danamon Save. Because you can open an account at Danamon Save with an initial deposit of IDR 0, from anywhere and at any time.
2. No minimum deposit balance
Danamon Save does not apply a minimum deposit balance, so if you need it, you can withdraw all your savings balance.
3. Free monthly admin fees
You no longer need to worry about your savings balance shrinking due to monthly administration fees being deducted. Because Danamon Save has free monthly admin fees.
4. Free 20x cash withdrawals per month at ATM Bersama
You will get the benefit of free cash withdrawal transaction fees 20 times per month via the ATM Bersama, ALTO and Prima networks, with a minimum balance of IDR 1 million before the transaction.
5. Free 20x transfer fees per month to other banks via BI-Fast
Hassle-free transfer fees via BI-Fast up to 20 times per month, with a minimum balance of IDR 1 million before the transaction.
6. 10% cashback (max IDR 75,000) per month for e-commerce transactions
Shop with a debit card at your favorite online e-commerce merchant and get 10% cashback up to IDR 75,000 every month, terms and conditions apply.
7. 10% cashback (max IDR 25,000) per month for QRIS transactions at minimarkets
Pay with QRIS at your favorite minimarket merchant and get 10% cashback up to IDR 25,000 every month. Terms and Conditions apply.
8. 20x cashback per month for top-up e-wallet balance
Get cashback on e-wallet top up fees up to 20 times every month, terms and conditions apply.
9. E-statement reporting
To support environmental conservation programs and reduce paper use, Danamon Save provides monthly account transaction reports electronically or e-statements which are sent to the email address you registered.
For your information, Direct Debit Danamon is a service provided to individual Danamon customers to be able to make transactions using a Danamon Save account as a source of funds on the Bareksa application which has collaborated with Danamon.
This collaboration includes making it easier for Bareksa customers to open a savings account at Bank Danamon. For customers who already have an account at Bank Danamon, they can link it to their Bareksa account easily and seamlessly. Apart from that, customers no longer have difficulty transferring funds when purchasing large amounts of mutual funds, namely up to IDR 1 billion per day per customer.
This feature is available for all types of mutual fund purchases at Bareksa, including Bareksa Umrah and Bareksa Robo Advisor. This IDR 1 billion limit is the initial stage. If all goes well, the daily transaction limit will be increased. With this latest feature, you have the potential to maximize investment profits without the hassle of transactions.