7 Tips Financial Planning for Beginners
After we have income, of course, we want our money to continue to multiply and increase, right?
Inflation risk and the possibility of a large amount of banking administration costs can be an annoying thing that leads to the erosion of our money in the bank. So, what's wrong with us starting to allocate our money in healthy investments? The following are simple financial planning tips, for those of us who want to start but don't know where to start.
1. Start from now
Actually, investment is never too late. We can still do it, as long as we do it and want to start now. It's simple because the more we are young, the risk can be minimized and the results can be even greater, while the funds we invest can be much smaller for the same big results.
Time is our good friend. Take advantage of starting an investment now.
2. Consult or talk to someone who understands
There are many books and blogs and articles about investment. But the results will be different if we consult directly with financial planner experts because what we need can be specifically explained and directed according to our financial needs.
After all, we will have the freedom to ask more details and learn, right?
3. Have Financial Goals
Financial goals are a map of our lives. If we have specific financial goals, then we will know what we have to do and how to achieve it.
For example The Need for a Pension Fund. We want to retire for another 30 years, for example, then the right investment instrument is one that provides large returns for the long term such as stocks and mutual funds.
And by having financial goals, it will be easier for us to monitor the progress whether it is in accordance with the target or not.
4. Start Investing From Something Simple
If we are still afraid or hesitant to start investing in stocks, look around the products in our homes. Are the products listed on the stock exchange? Simple household products such as Nutella, maybe even before we were born.
If we have trusted our products for more than decades, why don't we have a company? Or starting from the bank whose ATM is stored sweet in the wallet? Or we have only the companies whose products are the brands of clothing that we always buy and are the mandatory clothing line, cupboards, favorite coffee places, or burgers for our little brothers.
5. Invest as far as the contents of the wallet
The investment must always be expensive and millions. There are several stock options whose prices start at $ 50 per share or $ 500 per lot. Banking stocks range from $ 400 to $ 1,000 or around the most expensive tens of thousands. Or we can also have Unilever shares with a capital of $ 400.
Still feeling doubtful and expensive? We can try by starting to invest in mutual funds only. We can have mutual funds starting at $ 10 and with an automated system, we don't need to worry about forgetting to invest because of the convenience provided.
6. Diversification
‘Don't put eggs in one basket, surely we have heard that term. The simple analogy with the intention that our investment returns do not all fall if the market conditions are not conducive.
We can invest in banking, property, construction, mining, consumer goods stocks, and only have one type of stock in each field. Can. And this includes diversification.
For beginners, it's good indeed we only have 5-7 types of shares that we are comfortable to invest long term.
Mutual funds themselves have balanced diversification in their portfolios, so that if we have busy time to choose and have limited funds, just buy mutual funds because there are already investment managers who are competent in managing good results for our investments.
7. Independent
Standing on brokers is good. There is already an investment manager who helps us arrange when the right time to sell or buy shares. But by being independent and doing the learning process yourself and knowing the supporting news, there is indeed extra work done, but I am my own master. In addition to our own increasing knowledge, we will know more about the Indonesian economy itself.
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