It would be great for those who understand how to manage their expenses so that this will make it easier for them to make investments so that they can use the biggest money when they get old and can no longer do their jobs as they are now, nowadays many people can afford to work but very few can manage their spending so this will be very detrimental to themselves.
In my opinion, there are five mistakes in managing money, and they are difficult to hold, especially when stored in an ATM. Sometimes money is like time, if you don't manage it properly, it will just run out.
1. Don't carry feelings.
Money is just a number that can sometimes be - or +. Do not involve feelings in managing money. Because if we are in a + position and feel happy that is dangerous and can result in us wasting money for nothing. A flat feeling really helps you in calculating finances.
2. Not planning expenses.
"Failing to plan is planning to fail"
Planning is very important. Something big had to be planned.
3. Do not separate money.
Don't lump income together. When we work and have other businesses, the income must be separated and cannot be combined.
4. Not recording expenses.
All daily expenses must be recorded. Assume that the money you have is not your money, but the company's money. So you have to record every expense that you spend. And every month the total expenses must be calculated and adjusted for the following months. And the amount of expenses must be the same.
5. Not doing an evaluation.
The purpose of the four factors above is for evaluation. We can't possibly get all of that right in the first place. Therefore we need evaluation to make everything a habit.