Indonesia is a rich country, wealth is not only in the form of natural resources. But also biodiversity, ethnicity and culture. Besides that, Indonesia is also rich in myths. Myth is an assumption or public opinion that is attached to an object or event. For example, the myth of pregnant women is cravings, if not obeyed, it is said that children born will later drip their saliva.
In the world of work there are also myths about employees, said to be able to get rich must be an entrepreneur or have their own business. The question is are there rich employees? The answer is there! Rich is synonymous with high income. While for those of us who work as employees, their income or salary has been rationed every month. If it increases, the increase can be predicted by 5% - 10% per year.
High income, is that you get a large cash flow every month. While rich is how much you can set aside, save and accumulate assets from the income you get.
Is having high income definitely rich? Not necessarily! Depending on the way it is managed. If you have high income but are wasteful, it will not be rich. Limited income but right management, it will be rich and prosperous.
Employees do have limitations in income. But to get rich, you don't have to wait until you have a big income. You can still be rich regardless of your income. Because your ability to accumulate wealth is not seen from how much income, but from how you manage that income.
Although your income as an employee is generally limited, you can also cultivate wealth if you know how. Namely:
In financial management, charity is very closely related to social responsibility. If you get income, the first step that must be done is to set it aside for alms. The question is is it not by charity that our money will decrease. This is where the mathematics of Allah SWT applies, that Allah SWT will multiply by seven hundred times. For alms, we can allocate around 10% of monthly income. However, it can also be more than 10%. Remember, Allah SWT will multiply what we have given.
Investment is beneficial to increase financial wealth in the future. Choose investment products that can provide relatively large returns in the long run. Investment instruments such as stocks, property, gold / dinar, dirham and mutual funds are productive assets whose prices tend to increase. Ideally for investment funds, is 30% of regular monthly income.
Have protection in the form of life insurance. Owned insurance is not because people must die, but it is owned because the one left behind must stay alive. Life insurance is needed because it provides a sense of security through anticipating loss of income. One insurance product is a unit link which is a combination of protection and investment. For insurance, we can allocate around 20% per month.
4. Arrange Expenditures
In financial planning, managing monthly expenses is an important matter. For employees who have a steady income, it will be relatively easier to manage expenses. The important thing is not to exceed your income or experience a financial deficit. Recommended expenses are only 40% of the income you earn each month. (By: Jamil Azzaini)