Saving might not be the first thing that comes to mind, especially when you're young and your income isn't stable. However, if you think about it, starting to save now will have a huge impact in the future. But when exactly is the right time to start saving? Check out the following explanation so you can immediately begin a better financial journey!

When should you start saving?

1. It's never too late to save

Have you ever felt like you're too old to start saving? Or maybe you feel like you don't have enough money to begin? Actually, saving can be started anytime. Even if you've just started working or just finished college, it's a good idea to start saving now. The sooner you start, the greater your chances of achieving your financial goals in the future.

Saving isn't about how much money you have, but about the habits you build. Start with a small amount; the important thing is to be consistent.

2. You can start anytime, but the sooner the better

Ideally, you should start saving as soon as you can manage your own income. For example, after you start earning your first income from a job or business. If you haven't started yet, don't worry, you can still start anytime. However, the sooner you start, the greater the potential interest you can earn if you save in a bank or invest.

Saving isn't just about setting aside money for the future, but also about training yourself to be more disciplined in managing money.

3. Don't wait for perfection, just start!

You might feel hesitant because your income is still small or your expenses are high. But if you wait for all circumstances to be ideal, you might keep delaying. Start with what you have now. Try to set aside a little money each month. For example, 10% of your monthly income. Even if it's a small amount, this habit will form a positive mindset about finances in the future.

By starting to save earlier, you also give that fund time to grow. That way, you won't feel burdened when you need to save for bigger goals, like buying a house or preparing for retirement.

4. Saving can start with small things

You don't need to wait for a big salary to start saving. Sometimes, saving begins with small expenses you cut, like reducing your daily coffee or choosing public transportation. Saving can start by setting aside Rp50,000 to Rp100,000 each month. Indeed, the amount is small, but this habit will grow over time.

Additionally, saving can be done in many ways, such as opening a savings account, investing in stocks, or buying mutual funds. All of these will accelerate your financial goals.

5. Create clear financial goals

To make saving more focused, determine the financial goals you want to achieve. For example, you want to have an emergency fund, buy a car, or save for retirement. With clear goals, you can be more focused and disciplined in saving. It's best to set short-term and long-term goals. Short-term goals could be an emergency fund, while long-term goals could be buying a house or retirement.

Saving with clear goals will provide extra motivation and make the saving process feel easier.

FAQ (Frequently Asked Questions)

1. What percentage of income should ideally be set aside for saving?

You should ideally set aside about 10-20% of your monthly income for saving. This can be more or less, depending on your financial goals.

2. Is saving in a bank enough for the future?

Saving in a bank is safe, but if you want to get more profit, consider investing in stocks or mutual funds.

3. Should I wait for a large income to start saving?

No! You can start saving from your first income. Even saving a little is better than not saving at all.

4. When is the best time to start saving?

The sooner you start saving, the better. Ideally, you can start saving as soon as you start earning your own income.

5. What should I do if my income is not enough to save?

Start by setting aside just a little. Try to reduce unnecessary expenses and adjust your lifestyle to your financial capabilities.