Financial Blog

Strategies to Manage Finances Well

A good way of managing finances is the beginning to prepare for a resounding future. Because without a good strategy, the money you have can even run out.

Many stories prove this. One of the experiences of NBA star Antoine Walker, who earned $108 billion during his career, was declared bankrupt and instead hoarded debt in 2010.

Quoted from CNN, he claimed to spend a lot of his money on ins and outs like buying luxury goods. Many similar cases are due to wasteful management of money, likes to buy the wrong assets and spree.

The FCIAL team summarizes some tips on managing finances well to create a happy future. The tips below are shared with you.


After earning a monthly salary or other income, you should immediately start saving regularly. FCIAL’s saving tip is to set aside 20% of your income for savings. That savings can be your preparation in case of unexpected things like illness or other problems.

Well the difference from that savings is that you can use it for other daily needs. You can also spend it to explore for a moment avoiding the boredom of your work routine. This can not be forgotten also because stress will affect the mood of work.

Have a Budget Expenses

Having a budget is one way of managing finances. The intake is like water flowing in a pond and can be exhausted if used continuously. You should have a budget to spend so that the savings are still left. Okay, this might feel boring having to write down expenses on a note. If you don’t want to bother, you can start recording them in digital apps that can be downloaded on your smartphone. You need to start tracking your shopping habits and sorting out which budgets are important and not important.

Shop Carefully

Careful shopping is also part of good financial management. Before shopping you can do research through the internet to find out the price difference between one and the other. After that you can choose the cheapest one.

In the digital age, the ease of information is a blessing for consumers. This you should take advantage of to look for objects with friendly prices in the pocket. By buying cheap goods, the rest of the budget can be used for other purposes or saved.

Limit Credit Card Use

Having a credit card is no surprise anymore. Credit cards have many functions when you’re traveling abroad or shopping when you’re in an emergency. But using a credit card excessively can damage your finances because later the income is only used up to pay installments that are usually accompanied by interest.

The use of monthly installments should be limited to 30% of income. It’s a healthy financial measure according to financial management experts. If more than that, it is feared that income is running out for leisure activities and even can not save.

Investing Gradually

After applying the above ways in a disciplined manner, you can start to invest gradually. Set aside some savings to deposits, stocks or other instruments such as mutual funds, P2P. You can also monitor these investments for short or long term purposes.

For short-term purposes, you can withdraw your investment within a year or three years. Different situation if long term. You can withdraw investments of five years or more for long-term benefit. Ultimately understanding managing finance becomes an important part for a happy future. You can start doing it from now on to get used to it.

How to Make Effective Business Planning?

To start a business or business it takes a careful planning in order for the business or business to run properly. Business strategy and planning is also useful so that the business or business that is run has the right business objectives and cores. Here is a full explanation of planning in business or business.

Business Planning Understanding

In every business activity always requires a clear goal. In general, a business activity aims to get the most profit of the business or operating profit with the minimum business possible. So to achieve the objectives of the business, it takes the right vision, policies, programs, and strategies. All of these are known as business planning or business plans.

This planning is generally written into a document containing the business capabilities to be lived. There are several contents contained in the planning document, including:

  • Vision and Mission of the Company. The company’s vision and mission illustrates the company’s future ideals as well as the uniqueness that sets them apart from other companies.
  • The company’s goals contain targeted results or target companies that you want to meet.
  • The strategy contains ways in the form of techniques or plans that involve all the production factors that the company has in achieving its goals.
  • Policies and Procedures. Policies and procedures contain a series of concepts of activities based on strategy and used as a guideline that must be implemented.
  • Programs and Budgets. Contains a detailed and precise design and planning of funds.

Benefits of Making A Business Plan

The creation of a business plan that is set into a document is not of origin, because it has many benefits. Some of the benefits and advantages in creating a business plan document include:

1. Become an Action Plan and Business Roadmap

Business or business planning documents can be used as a reference in creating and carrying out an activity plan. The absence of this document can help business owners when it comes to making a business decision. This document can be used as a help to break down complex big problems into small problems that are simple and easy to solve.

The absence of this document can also help the company to stay on its business path, not distracted from its focus on other activities. Focusing on this effort can help the company achieve its targets, objectives, and mission vision. So that any business actions taken remain within the corridors that have been submitted in this business or business planning document.

2. Know the Company’s Vision and Mission

The next benefit in the creation of this business plan document is to know the vision and mission of the company. These benefits are generally felt by outside companies such as prospective investors, finance for-government agencies, or even prospective workers. It’s important for these people to know the vision and mission of the company so that they can make certain decisions.

The company certainly cannot be released and must cooperate with outside parties. Outside parties can be very helpful to the company in running its business.

It is important for them to know the vision and mission of the company set out in the document before cooperating with the company. A prospective workforce, for example, must know the vision and mission of the company in order to be in line with its own vision and mission.

3. Obtaining Capital, Financing, and Contracts

A company’s business plan can also provide benefits in the form of additional capital, financing, as well as contracts with other parties. Capital and financing are certainly very important for each company as a foundation for doing business. To get additional venture capital this company usually takes loans from institutions or investors.

Unfortunately, the institution of the financier or investor will not immediately want to provide capital without checking the company first. One way they do the checking is through the business plan document.

This business plan document contains a vision of the company’s mission and objectives. From here the institutions and investors will see the seriousness of the company and the targets that will be achieved by the company. If suitable, they will disburse funds for additional capital. Also applies to other companies that will cooperate.

How to Create an Effective Business Planning Document

With the great benefit of the creation of this document so that in its own preparation can not be done carelessly. There needs to be appropriate ways for this planning document to be effective. Here are some ways you can create effective business planning.

1. In-Depth Research

Research is very important for the continuity of a company in running its business. Therefore, generally the company will provide great funds in conducting research in various ways. This research is also useful in the creation of an effective business plan.

Research can help companies map products, target markets, and competitors. It is very important to know so that the company knows what to do and how to do its business. Knowing these things will also allow the company to determine its goals and business plan.

2. Define the Purpose of the Business Plan

There are many things that are included in this document including the purpose. In order to make a business plan effective, recognize the purpose of the business plan. Recognizing what the purpose of the business plan can help to develop various marketing strategies up to the direction of the company. These strategies and objectives are based on in-depth research.

3. Finding Out What’s Off limits to the Company

In-depth research has previously mapped competitors who have similar business corridors. Mapping these competitors is also important to know how competitors are conducting in the face of competition and markets. It is not uncommon with this mapping to know the cause of a competitor’s failure in the face of competition.

Studying the behavior of competitors and the causes of these failures can be a lesson in not experiencing the same failures. Mistakes made by competitors are things that companies should not make so as not to fail. By figuring out this forbidden thing, business plans and programs can be created effectively.

4. Create a Marketing Strategy Plan and Document All Aspects of the Business

After finding out what the company should not do in the face of the market, prepare the right marketing strategy plan. The right marketing strategy plan can help the company in reaching the market and gaining financial advantage. The right marketing strategy plan also makes business planning more effective.

Not forgetting, document every aspect of the business related to the company ranging from ongoing projects, production results, to cash flow and expenses. By knowing this, the company can make a plan in an effective endea business. The impact of this effective planning will also assist investors in making decisions.
5. Plan Business Bookkeeping

The thing that is often overlooked when doing business planning is bookkeeping, when in fact the bookkeeping process is a must-have when your business starts to build. The stigma of a difficult and time-consuming bookkeeping process is still very strong for those who are planning to build a business.

For easy bookkeeping, you can try using accounting software that has features according to your business needs and is also easy to use, for example accurate online.

Accurate Online is a cloud-based accounting software that has helped book more than 300 thousand users and has the best features such as income and expense logging, asset counting, tax reporting and counting, automated reconciliation process, multi warehouse, multi-branch, automation of more than 200 types of financial statements and much more.