DDHK.ORG - MOMENTS of Indonesian independence should be an awareness for every Indonesian citizen (WNI) to be able to realize their independence in their respective lives. One of them, financial independence.
One of the important things, according to Oneshildt Financial Planning Financial Planner Mohammad Andoko, is freedom from debt. "In starting financial management, the most basic thing is financial independence. So finances do not depend on other people and other parties, including debt. So we really need to be free from debt, "he said, as reported by CNNIndonesia.com.
The same thing was also revealed by another Oneshildt Financial Planning Financial Planner, Agustina Fitria. According to him, as long as you can rely on your own source of income, it's better not to have to go into debt. This is because there will be principal and interest payment bills that are ready to haunt you when the debt has already been taken.
Well, here is Agustina's strategy to be free from debt:
1. Adjust income and expenses
This is because there are funds that need to be saved as an emergency fund, savings and investment, apart from daily necessities. "Debt is usually a means of satisfying desire, but there is no ability. So in order not to get into debt, identify what the actual needs are, if you don't really need it, don't force it, "said Agustina.
In managing income and expenses, as much as possible avoid the temptation of momentary consumptive needs. For example, the desire to buy luxury items that are minimally used.
2. Prepare an Emergency Fund
The goal is to mitigate unexpected events. That way, before finally running into debt, you can cover the needs of this emergency fund.
3. Explore Sources of Income
Debt is usually taken or not because the source of income is not sufficient for spending, so it can also be prevented by looking for additional sources of income. For example, with jobs to side businesses.
"You can start from your hobbies, for example buying and selling certain items, resellers, or culinary delights, so there are additional sources of income so you don't need debt," he said.
4. Look for Restructuring Loopholes
Before going into debt here and there due to not being able to pay motorbike, car, home loan installments, for example, then look for a restructuring program from a bank or institution that provides installments. This policy actually exists in every bank, so it can be used.
"At least we can get a postponement of the principal or interest installments. So there is no need to be immediately busy looking for new debt loans to cover these installments, "he explained. [source: CNN Indonesia]
