Financial planner shares his advice on revenue management for the millennial generation

JAKARTA, KOMPAS.com – As young people who currently have neither the burden nor the responsibility but who already have an income, even if it remains weak, it is important to pay attention to the balance of the expenses.

Financial trainer and founder of QM Financial, Ligwina Hananto, emphasized the need for good revenue management. According to him, there are 3 things to keep the finance healthy

"First, make a habit of recording expenses Secondly, allocate money for savings (minimum 10% of monthly income), installments (maximum 30% of monthly income), current expenses, personal expenses (maximum 20% of monthly income) and social spending Third, limit payments to 30% of monthly income, "he said Thursday (29.11.2018)

To save money, millennia can do it with conventional banks, save gold or invest.

"Create separate accounts between monthly expenses, rah-rah accounts and savings accounts for specific purposes such as emergency funds, education funds, etc.", explained Ligwina.

He said that mutual funds are one of the recommended investment forms for the millennial generation. Indeed, mutual funds are easy to buy and liquidate, the period that can be chosen based on financial goals is professionally managed, at a relatively low cost and of course monitored by the Financial Services Authority (FSA).

However, the investment must also determine the purpose of the investment. For the short, medium term or long term.

"First determine the purpose of the investment, such as a short-term vacation, then the medium-term is marriage and long-term costs to buy a house or retire," said Ligwina.