Even though it is not based on the adequate financial theory, we can learn many things from them in managing finances. What can we imitate?


Save regularly

Have you ever heard of the term "many a little makes a mickle"? This is the concept of saving that many old mothers did. You don't need a lot of money; as long as it's consistent, it can become an emergency fund that you can rely on in the future. Just trust, the money we think is nickels will look big if it is routinely saved over a long period.

For example, if we save about IDR 10,000 every day, we will have a savings of IDR 3,560,000. If the savings stand still at all for ten years, then the money available is IDR 35,600,000. Pretty big, right?


Value the money

It might be considered stingy, mothers in the old days knew very well how to appreciate the money. There is no such thing as a dime, all the money is deemed to be a significant value.

It is different today, where it is easy to waste the money, especially if it’s obtained easily, as if every single cent is worthless.

If you consider to follow what our mothers did in the past, we have to consider every rupiah that you want to spend. Just because you see an item at an affordable price, you buy it immediately without considering how much rupiah has been spent.

Value the money by spending it only on needed and valuable things, not because you can afford it. Mainly just for the sake of pursuing prestige and trends.


A Penny Saved is a Penny Earned

This is the watchword of mothers in the old days, where financial spending had its priority. They can sort out their needs and wants to achieve the goals of financial planning.

In simple terms, a need is considered to be owned to live, while a desire is something that one wants to have without a basic need. To achieve an ideal financial planning goal, needs must be above desires, not vice versa.


Manage the money

Even though they did not have adequate financial literacy, old mothers intuitively could do intelligent financial planning. The method is as simple as write any incoming and outgoing expenses.

You don’t need any fancy technology to do this, just prepare a notebook (of course, not a laptop). Also, put your expenses on separate envelopes to avoid any misuse of the allocated funds. 

Present day, we also have to apply the same thing to be able to control our cash flow every month. This is important to do so that we place financial posts in specific priorities so that there are no big pegs rather than poles.

However, if you find it troublesome, with the advance technology, you can simply use financial management applications. Even today, several digital wallet applications can already create expenses items that are directly integrated with online payments for several bills, such as electricity, water, internet, and credit cards.


Optimized with financial products

If you wish to start your own financial planning, you may also consider to save a little to have additional financial instrument, such as insurance. 

Having an insurance may help you build a peace of mind while pursuing your dream. Insurance will cover you from any risk that might occur during any of your life stages. 

One of the insurance products you can consider as part of your financial planning is Sun Proteksi Pintar insurance that provides health protection and life protection, and premium return benefits.