Managing Finances Wisely: Prioritize Expenses and Find Inspiration from Successful People

What must be arranged first, income or expenses? This is a common question for many people who want to manage their finances wisely. Don't get the stake bigger than the pole, a term we often hear. Peg is a nail made of wood and also a pole. Let's explain the steps:

1.    Prioritize Expenses

The first step in managing finances is managing expenses. You have to know what expenses are the biggest in your finances. If, for example, bank installments are the biggest expense, you need to have the courage to let go of the things that cause these big installments. In this way, you can reduce your expenses until the installments can even be zero.

2.    Observe the Lifestyle of Successful People

Observe people who earn at least half your income, and notice how they manage their finances. Learn how they manage their food, vehicles, children's education and housing. Imitate their lifestyle to help you achieve financial stability. If you find it difficult to fit in with their lifestyle, then there may be a weight of prestige that you need to overcome. Don't judge someone's value based on the luxury items they have, because your true value lies within yourself.

3.    Learn from Successful People

Learn from people whose income is at least half above yours, can be 50% to 90% higher. Learn their communication behavior, mindset, leadership, ways of thinking, how to deal with adversity, how to build relationships, how to do business, make decisions, sell, manage schedules, and how they work. Follow their progress through social media, YouTube and other media. Successful people like this don't waste their time on unproductive things like watching TV or spending time on things that don't matter.

4.    See the Positive in Others

Don't just see the bad side of other people, but try to see the positive things you can learn from them. Seeing positive things will affect your thoughts, and your thoughts will influence your actions, which will ultimately affect your finances.

5.    Plan Your Future

Remember that planning your future wisely is much more important than planning a short vacation. Set long-term financial goals and plan the steps you need to take to achieve them.

Hopefully these steps will help you to be wiser in managing your finances and achieve financial stability. Always remember to keep learning and continue to hone your skills in managing finances. Good luck! [20230803 – eg01/01]