(all about the) Money

It’s time for some real talk, money talks! Its one topic that we have a love and hate relationship, mostly hate though, because just like the great notorious B.I.G said mo’ money mo’ problem (excuse us, our real age is showing)

Our attitude towards money is a result from years of life conditioning within our family and also the society surrounding us. we cannot deny that the way our family or people we know spend their money somehow affect our ways of spending and also saving money.

We have been through quite many financial milestone in our life, from small milestone like the first time buying our own gadget and paying for our own utility bills that was the result from our first ever paycheck of our part time job during our uni life, or big milestones such as paying for the hospital bill for the birth of our son or our apartment mortgage and also the latest in our financial milestone as a family of three is paying our son’s first ever school tuition. Off course, we still have plenty of financial milestone to go and that’s what we’re trying to cover in this blog post.

First thing first, to be completely honest, our financial state are not exactly in top shape. if our financial state can be describe as a movie, it will definitely be Star Wars episode 1-3 a.k.a awesome premises but most definitely fail in execution. no offense to fans of Jar Jar Binks and Hayden Christensen wooden acting skills. but back to the point, basically we know the essential and the rules, we applied various technic and has made some grand plans and dreams for our financial plan but in the end we can’t execute it. God, we so wish that the force be with us. (ok I’ll stop with the star wars reference)

Many times we ask ourselves why but many times as well we got no answer we want. We want to have a long term plan but how could we if even our short term plan is barely there.

Enter our friend from LOLOxGOGO, a modern parenting website that based in Jakarta which has been on our radar for quite a while. We have been a loyal follower of their blog and instagram page for quite a while and their tips for family and parenting life are usually spot on and relatable for our day to day life. When we got approached to do some collaboration, we chose the family financial plan for education. Why? because have you seen the Schools Tuition nowadays? We’ve seen some crazy numbers with lots of zeroes on the school open day pamphlet and of course a quality education is our main priority for our kid. A friend of ours once told us that, he plans to give his kids a better education than the one he got because that’s only natural that every parents wants a better condition for their children.

Based on that thought, we met with Ghita from Integrita Financial Planning, which offer services such as basic financial check up, financial plan and of course education financial plan all available through LOLOxGOGO shop. We discussed our current situation, our goals and what we think is our biggest hurdle to accomplish that goal.  

They’re very thorough with the financial check, we even have to count our monthly coffee budget! After we gave all the necessary info, Integrita will come up with a detailed presentation and excel sheet of our financial state (weak, alarmed, etc) and also the total needed to achieve that dream school for our kid. It all looks really daunting at first, but we are grateful that at least we know our worse so that we can make it better. 

Our financial check up came up not so great, as expected actually, but no worries we also have came up with this plan to hopefully survive our financial crisis:

1. Know your worth

What we love about our financial check up is that we can see in the short run and long run based on our current financial conditions. Basically we just need to list all the asset (house, saving fund, pension fund) and have it against our liability (mortgage, leasing, etc), our net worth is what we owned (asset) minus of what we owed (lialibities). why do we need to know this? simple, to know exactly how well do we do in the long run and what we can do now if or current net worth is not up to the standard. 

2. Live F(r(u)ga)lly

Now after we know about our nettworth (spoiler: barely alive) we need to do some adjustment in our spending and saving habit. easier to said than done. we have this coffee addiction and normally if there’s a new cafe opening we will definitely pay a visit. this so called coffee fund can make our monthly cash flow bleeds. lets say we spend 50k per day for coffee, if we times that with 20 days thats 1 mio already. thats not including our weekend excursion to a local coffee shop that could easily add up to 200k per visit.  Now we make our own coffee, we learn how to manually brew our coffee the way we like it (its fun! and its so damn easy) and if we go out we usually eating in first then just grab the coffee to go. After all we prefer eating in than eating outside and have more quality time with the family. so even though we live frugally but its still a full life. we can still enjoy our hobbies but in more efficient way. 

3. Less is more

We also modify our lifestyle to be more efficient. Its not just our spending habit that we make some adjustment to. We are on the process of minimizing and downsizing our current wardrobe. This method we adapt from the Konmari Method, basically this method forced us to declutter our life starts from the wardrobe to everything else. This method is simply life changer, we found that just by declutering our wardrobe it affect our spending habbit in a big way. somehow we just dont want to buy more stuffs that we dont actually need. try it! read more about the konmari method on Google.

4. Do it the Millenial Way

What our generation has that our parents dont have is the invention internet. everything can be done from the tip of our finger. What we found from minimizing our lifestyle is there are lots of items that we dont need, but still in good conditions. Luckily nowadays we have so many online platform that enable us to sell stuff online. some sort of the millenial version of garage sale.  There’s also plenty of finance blog that gives out relevant tips and tricks that we can follow and applied.

5. Have some Help!

If you still feel lost and dont know where to start your financial freedom process, just seek some help. trust us, at first we were a bit skeptical whether it would works or not but it helps us a lot. Financial advisors are there to help you understands what your current financial condition is and thus choosing which path you would take to improve and reach that financial goals. 

so that’s it, we hope this blogpost can be useful and have fun planning your way towards financial freedom! 

for more info, do have a visit to LOLOxGOGO website

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2 thoughts on “(all about the) Money

  1. Hahaha stress ya begitu melakukan Financial Check Up! Percaya ga sih gue udah bikin Financial Planning dari tahun 2009 hahahaha what a freak kan! So I started my pension plan and kids education fund 8 years ago when I didn’t have any kids yet! hahahaha

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    • bok gw percaya sih karena elo lebih melek financial bgt dibanding gue padahal gue orang bank! πŸ˜”πŸ˜” hasil financial check up gw ibarat debitur mau minta restruktur, semua financial covenantnya breachπŸ˜…πŸ˜…πŸ˜…

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