7 Bad Habit Yang Bikin Keuangan Lo Ngaco

Introduction

In this tutorial, we will explore seven bad financial habits that can negatively impact your finances, as discussed in the video by Fellexandro Ruby. By identifying and changing these habits, you can improve your financial health and work towards achieving your financial goals.

Step 1: Avoiding Impulse Spending

• Recognize triggers that lead to impulsive purchases, such as emotional stress or social pressure.
• Implement a waiting period before making non-essential purchases, like 24 hours.
• Create a budget and stick to it, allocating specific amounts for discretionary spending.

Step 2: Not Tracking Expenses

• Use financial tracking apps like Money Lover to monitor your income and expenses.
• Categorize your spending to identify areas where you can cut back.
• Review your expenses regularly to ensure you are staying within your budget.

Step 3: Living Beyond Your Means

• Assess your current financial situation by calculating your total income and fixed expenses.
• Avoid lifestyle inflation; just because you earn more doesn’t mean you should spend more.
• Focus on saving and investing rather than accumulating debt through unnecessary purchases.

Step 4: Ignoring Savings

• Set up an automatic transfer to your savings account each month to prioritize savings.
• Aim for at least 20% of your income to go towards savings and investments.
• Create an emergency fund that covers 3-6 months’ worth of expenses.

Step 5: Neglecting Financial Education

• Commit to learning about personal finance through books, podcasts, or courses.
• Join communities, like the Disco Book Club, to discuss financial concepts and strategies.
• Regularly update your knowledge on investment opportunities and market trends.

Step 6: Postponing Investments

• Start investing as soon as possible, even if it’s a small amount.
• Research different investment options, such as stocks, mutual funds, or real estate.
• Understand the power of compound interest and how early investments can significantly grow over time.

Step 7: Failing to Set Financial Goals

• Clearly define short-term and long-term financial goals, such as saving for a home or retirement.
• Break down larger goals into actionable steps and set deadlines for each.
• Regularly review and adjust your goals as your financial situation changes.

Conclusion

Changing these seven bad financial habits can significantly improve your financial well-being. Start by identifying which habits you currently practice and create a plan to address them. Remember to track your progress and stay committed to your financial education. With proactive steps, you can achieve greater financial stability and success.