Jakarta, 23 June 2021 – During the Covid-19 pandemic, the economic situation of most people has changed considerably. This has made many families' finances unpredictable, requiring extra effort to meet their daily needs. Various measures are certainly taken to overcome these difficulties, such as opening business opportunities, starting small businesses, and not infrequently borrowing money or taking on debt.
Borrowing money as a shortcut may seem like a relief, but this option can become a problem if previous financial management was already quite wasteful. An option that was initially seen as a solution can actually become a problem, especially if loan repayments are made by borrowing from elsewhere. This approach can backfire like a boomerang, as debt keeps piling up.
Being the family breadwinner in an uncertain situation requires a special strategy to keep the family's finances stable and free from debt. As the breadwinner, this needs attention, because the future cannot be predicted.
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The following points need to be considered so that the family can be free from debt.
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Make a financial plan so that spending is better controlled.
Making a financial plan is the easiest step toward becoming free from debt. This approach aims to make spending more targeted and easier to control. A large consumption capacity can also throw finances into disarray, which is why financial planning is necessary. By recording every important expense and the income received, we will know which expenses are not really needed, so that we no longer have to worry about running out of money before payday arrives.
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Set aside part of your income as an emergency fund.
An emergency fund is meant to prepare for unexpected events such as layoffs, chronic illness, or other damaging work accidents. Usually the emergency fund is taken from net income that is saved and allocated like a monthly salary. For example, if you have a monthly income of IDR 5,000,000 and in one month you are able to set aside IDR 1,000,000, then if you save that money for 5 months, by the 6th month an emergency fund equal to one month's income will have been accumulated. With this emergency fund, there is no need to cut other expenses, let alone resort to borrowing.
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Look for a side job to create additional income.
Already made a financial plan but the results are still not enough for daily needs? Another solution is to find a side job as additional income. This income can then be used for emergency savings, supporting a lifestyle, or covering everyday needs. Look for work that does not take up too much time and can be done from anywhere, so it does not interfere with your regular working hours. One option is becoming an agent for Kamboja's funeral protection service, which can be done anywhere with flexible hours and promising earnings.
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Build a habit of saving for future plans.
Having a modest income is no excuse to spend it all without setting aside any savings. Saving aims to ensure that in the future the family does not have to be trapped in debt. Common approaches are investing in gold or stocks, but there is another equally important method: using insurance products as long-term planning.
Kamboja's funeral protection service can be one option for allocating funds. Although it may seem unusual, this kind of planning is actually very important, because news of a loss can come at any time. In line with Kamboja's slogan #UntukMereka (#ForThem), Kamboja provides complete convenience for the families left behind. Kamboja delivers the best service according to the package offered. This service is tailored to the needs of clients and families, including funeral administration, the funeral process, third-party funding such as refreshments, and support for the family. The prices offered are quite affordable, starting from IDR 35,000/month to obtain funeral protection. Losing a loved one is the heaviest moment for anyone. Do not let the day of mourning arrive and add to their sorrow.
It's time to recognize that you need to protect your loved ones from the financial burden they may have to bear. Sign up with Kamboja today.
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The Kamboja team writes guides on bereavement, funeral arrangements and funeral planning to help families in Indonesia.
