DIGIVESTASI - The main character in the movie *Home Sweet Loan*, Kaluna, managed to accumulate a savings of Rp 330 million in 7 years despite only having a salary of Rp 6 million per month. She saved Rp 4 million every month in her bank account. However, there are other more effective ways to increase the value of your money, detikers! Here are the recommendations.

Financial Planner Andy Nugroho explains the importance of distinguishing between needs and wants before investing. “Needs such as boarding, food, internet, and transportation must be prioritized, while desires such as traveling can be postponed. Don't get it upside down, make sure your needs are met first and then your desires,” said Andy when contacted by detikcom, Friday (11/10/2024).

According to Andy, ideally we allocate 10% of our income for investment. For example, with a salary of Rp 6 million, you can invest Rp 600 thousand per month.

Andy recommends four ideal investment instruments: mutual funds, stock market, precious metals, and retail state bonds (ORI).

According to Andy Nugroho, mutual funds are a safe and affordable investment option as they can be purchased starting from Rp 100,000 through fintech applications. As for investing in the stock market, he suggests always paying attention to company fundamentals.

Investing in precious metals is also considered ideal as the concept is similar to saving money, but more prospective in the long run. In addition, retail state bonds (ORI) are an attractive alternative, with minimum investments starting from Rp 1 million and providing higher interest rates than deposits.

“If for example we have Rp 4 million per month, put it directly into ORI. The advantage is that we can get higher interest than deposits. However, keep in mind that investment should be tailored to your individual risk profile - be it aggressive, moderate or conservative. We need to recognize ourselves first before choosing an investment product that suits our psychological profile,” Andy concluded.

Find more news and articles on Google News