Financial planning is not only recommended for professionals. Students or fresh graduates are encouraged to start making a financial planning as early as possible.
Financial planning is not only recommended for professionals. Students or fresh graduates are encouraged to start making a financial planning as early as possible.
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Financial planning is not only recommended for professionals. Students or fresh graduates are encouraged to start making a financial planning as early as possible. Financial planning is simply defined as a process of making plans to achieve financial goals, “said Safir Senduk, a Financial Planner, in an exclusive interview with UPH reporters at the Business Gathering held by Suara Pembaruan at FX Lifestyle Mall, Tuesday (23 / 1).
The first step in planning should be done as early as starting college years by setting aside at least ten percents of the monthly allowance. If it is consistently done, upon graduation students would already have initial financial savings for at least three months ahead. “Actually, the three month spending is very minimum. It could be a subsidy for a reserve fund before getting a real job, “said Safir. However, what if after graduation, students do not have a reserve fund at all? A possible solution is to tightly cut the first 3 salaries from work. This should be done continuously until the amount of savings achieved the total of three months? expenses. The second solution is to sell consumptive goods or replace them with the cheaper ones. Consumptive good itself means something that can not be used to produce money, for example clothes, mobile phones, and jewelry. Additional income can also be obtained from selling services or one?s own creations. “In Indonesia, the trend is selling music. RBT and recording albums are the stars in market,? said Safir. If you have no savings at all, it would be hard. For fresh graduates, financial conditions are relatively safe when you already have a savings that you started collecting since college. Moreover, there are now a lot of banks offering savings products with relatively small administrative fees, starting from Rp. 100,000. It would be better if students can already take the time-deposit-product. It would be a bit different for fresh graduates who eventually choose to work as freelancers. They need reserve funds for as much as six months? expenses. The reason for this is, as freelancers, their incomes are relatively unstable and hard to be predicted. In addition, Safir suggested, that freelancers take insurance as soon as possible, since there?s no such fringe benefits given from companies. Students who are interested in investment should better do it after a 3-month-reserve-fund is fulfilled. Investment itself, according to Safir, has 2 major points: interest and time period. “If you wait 2 more years before investing money, you?re wasting time. But if you start investing money early, you?ll have lots of time to gain profits, “he added. Suitable investments for college students are the ones without big risks and relatively easy to do, such as bonds and time deposit savings. (sar) UPH Media Relations |
