"Where do you want to save your UMR salary from? It's just barely enough to eat."
The sentence I hear most often. And I understand, it feels impossible. But let's be honest, saving is not about the size of your salary. But it's a matter of whether you're smart about managing your money.
Some people have a salary of 12 million but borrow money at the end of every month. There are also those whose salary is 3.5 million but can pay in installments in gold every month. The difference? Habits.
So stop blaming your salary. Let's start with what you can control now. Here's how.
1. Change your mindset: save first, then snack
90% of people save using the formula: Salary - Expenses = Remaining for savings. The result? The remainder continues to be zero.
Flip the formula to: Salary - Savings = Then you can make expenses.
Receive a salary of 3.5 million, immediately deduct 350 thousand for savings. Let's just say your salary is only 3.15 million. The 350 thousand is not your money anymore. Point.
Just save 10% first. No need to charge 50%. The important thing is to be consistent every month.
2. Unload your expenses. Which one is leaking?
You won't be able to manage your money if you don't know where it's going. Just try tracking it for 1 week.
You will be surprised to see the fine leakage: 25 thousand coffee x 20 days = 500 thousand. A pack of cigarettes 30 thousand x 15 days = 450 thousand. Evening snacks 20 thousand per day = 600 thousand.
Just three items is already 1.5 million a month. In fact, if you save, it will be 18 million a year.
The solution? Change. Make coffee at home. Bring a tumbler. Cook a simple lunch. Reduce hanging out incoherently. The money feels really good.
3. Use the digital envelope formula 50-30-20
This is a small salary so you don't get stressed:
50% Basic Needs: Boarding, food, electricity, petrol. What you have to pay so you can work.
30% Installments & Entertainment: Pay debts first. The rest is for snacks to stay sane. But it's rationed.
20% Savings & Invest: 10% emergency fund, 10% investment. If it's still hard, 15% needs + 5% savings is also okay.
A salary of 4 million means 800 thousand for the future. Does it look big? Break it up into weeks. Only 200 thousand per week.
4. Don't just save money, increase your income
Let's be honest, saving has its limits. You can't just eat once a day so you can save.
The fastest way to increase your savings: add money.
You don't have to resign or work 3 shifts. Take advantage of your skills and free time. Good at writing? Good at telling stories? Have you had any experience of being cheated by a loan?
Content like that sells. Upload your experience on Zoyalink, people will get paid to read it. No need for capital, just story capital. The results can be 500 thousand to millions per month. Put it straight into savings.
5. Automate it so it's not tempting
The human brain is weak when asked to transfer manually. There must be a reason: "There are lots of needs this month".
Use autodebit. Set every payday, 10% is immediately sucked into a separate account or money market mutual fund.
Don't create an m-banking savings account. Don't make an ATM card. Make it too complicated so you don't have to take it.
6. Give it a purpose so it's not easy to use
Savings without a name is very easy to withdraw. "Ah, just buy a new cellphone."
It's different if you give it a name: "Funds for Escape from Toxic Offices", "Motorcycle Down Payment Without Usury", "Homecoming Savings for Bringing Parents".
Every time you want to take it, you remember the struggle. It would be a shame if you took it just for snacks.
The bottom line is this
A small salary is not an excuse not to save. A small salary is actually the strongest reason why you have to save.
Because if something happens, you don't have a cushion. Once you slip up, you can go back to zero again.
Starting from 50 thousand a month. Starting from stopping drinking coffee every day. Starting from looking for an additional 100 thousand per week.
Saving is a marathon, not a sprint. The one who wins is not the one who goes the fastest, but the one who doesn't stop.
Have you started saving what percentage of your salary? Or are you still waiting for a salary increase? Story in comments.
