Making financial plans is very important for anyone, especially for friends who are boarders. Usually, boarding students have difficulty managing finances because there are many expenses that must be met, ranging from monthly boarding fees to daily needs.

Living away from your parents requires you to be more independent, especially in managing daily expenses. Without careful financial planning, monthly money can run out prematurely. Therefore, it is very important to make a plan from the beginning so that the wallet remains safe until the end of the month.

Many boarders think that financial planning is only important for those who are already working. In fact, starting from college, you can and should start making financial plans. This will not only help you survive, but also form healthy financial habits early on.

1. Record All Daily Expenses

The first step in creating an effective financial plan is to record all daily expenses, no matter how small. Whether it’s buying coffee, paying for parking, or laundry fees, everything must be recorded. That way, you know where your money goes and can recognize unnecessary expenses.

Often times, boarders unconsciously spend money on small things that add up to quite a lot. By taking notes, you can sort out which needs are mandatory and which ones can be reduced. This is an important foundation for making long-term financial planning.

2. Create a Monthly Budget

After knowing your spending habits, it’s time to create a monthly budget financial plan. Separate items such as daily meals, boarding costs (electricity, water, quota), transportation, and entertainment. Don’t forget to also allocate an emergency fund, even if it’s just a little.

This budget will be a guide in managing money. With the discipline of running a budget, you will not only avoid waste, but also learn to be responsible in managing finances. This is the main key so that financial planning can be realistic and run smoothly.

3. Distinguish Needs and Wants

For boarding school students, the temptation of online food discounts or cute items on the marketplace is often a big challenge. Therefore, the ability to distinguish between needs and wants is very important. Prioritize needs such as food, transportation, and health in the budget.

Desires such as buying new clothes or hanging out at the latest cafes should be adjusted to the remaining entertainment budget. Don’t let your lifestyle make you have to sacrifice your basic needs. Limiting desires does not mean not having fun, but learning to manage priorities.

4. Take Advantage of Promos and Cashback

If you want to save more but still meet your needs, don’t hesitate to take advantage of promos, cashback, and discounts from e-wallets, marketplaces, or transportation applications. This can really help make financial planning more efficient.

However, be wise in using them. Don’t be tempted by promos to buy things you don’t actually need. Use promos as a saving strategy, not an excuse for impulse shopping. This way, you can save money without sacrificing your main needs, and still be able to make an ideal financial plan.

5. Set aside Money to Save or Invest

The last and not least step is to set aside some money to save or start investing. Even though you are still a student or have no fixed income, saving from your pocket money will be very useful in the future.

If possible, you can try small investments with affordable capital through an easily accessible platform. This is a form of making long-term financial planning that has the potential to give better results than just ordinary savings.

Small Capital Investment with Digital Gold

Who says boarding school kids can’t invest? Maybe you don’t know Treasury yet. Treasury is a digital gold investment application that allows you to start investing with only Rp5,000. This investment is perfect for beginners who want to learn to manage finances while maintaining asset value from inflation.

Instead of spending all your money on impulse purchases or unspecified expenses, invest it in digital gold at Treasury. Let’s start now! Invest in digital gold at Treasury, little by little for a long time.