How to manage household finances with a small salary

Managing household finances is not easy, especially if our income is relatively small. There are always miscalculations that you can't save. Especially if there are many needs that make Mom have to spend more.




If you are married but your income has only reached IDR 5 million per month, don't worry. Mother can manage finances for the future of the family, even though the salary is relatively small and does not have a home of her own.


Take the time to discuss this with your partner, and determine how much budget is enough to spend on each shopping. If it has been mutually agreed, make sure this budget does not go according to plan without mutual awareness.


Here are 10 ways to manage household finances with a salary of IDR 5 million per month so that you can still save for the future. These tips apply to young couples who are newly married and do not have children.


1. House Rent Budget

If the mother does not live at home with her parents or in-laws, the first thing that is regulated is the allocation of expenses for housing. Mothers can allocate a maximum of 20 percent of the monthly salary. Precisely for a fixed budget of Rp. 1 million / month per month for a house rental budget.


2. Daily Consumption Budget

To manage household finances with a salary of IDR 5 million per month, one of the most effective ways is to cook at home. The money spent will be less than buying ready-to-eat meals for one family. Budget of IDR 1 million for food and side dishes for a month.


3. Kitchenware and Toiletries

How to manage household finances with a salary of 5 million rupiah for the needs of the kitchen, bathroom, and other equipment is to budget at least 300 thousand per month.


4. Transportation

If you use a motorbike as a means of daily transportation, you can budget for IDR 250 thousand per month. Make sure it is fully charged immediately when refueling at the nearest gas station, this is to be more efficient and good for the condition of the motor.


5. Water and Electricity Bills

Water and electricity are an important part of a household. Therefore, Mom must make sure to pay the water and electricity bills on time. For this post, how to manage household finances with a salary of 5 million rupiah is to allocate around 400 thousand rupiah.


6. Wife's Needs

The wife's needs must also get a separate post, for example for clothes, make-up, and other needs. The budget for this post can reach Rp 900 thousand. Usually for this purpose there is also more to store.


7. Internet Budget and Credit

In this day and age, many things are done using smartphones and the internet. Then how to manage household finances with a salary of 5 million rupiah for this position? Mother can allocate a budget for mobile phones and internet Rp. 200 thousand per month. Surely Mom and Dad must be wise in using quotas, right?


8. Savings

Having a small income does not mean you can't save for the future, especially if you are already married. Allocate income for savings of around Rp. 500 thousand. This savings should not only be in the form of deposits placed in banks, but also for other investments such as mutual funds, insurance, and gold.


The key to success in managing a family also lies in the ability to save. The main recipe that Mom has to do is set aside, not save every month. Many are mismanaged because the remaining money at the end of the month has run out and can no longer be saved.


9. Recreation

To live a harmonious domestic life, there is no harm in allocating funds for recreation. New couples can allocate IDR 250 thousand per month. With recreation, the tension in living the household can be minimized.


10. Emergency Fund

This emergency fund must be separated from savings. It's also important to set aside your salary for an emergency fund, especially to use in an emergency, such as if you fall ill or may lose your job.


The function of the emergency fund will be felt when the mother's main source of income is completely depleted, so it should not be used at all and must be allocated in a special savings account.


Well, if each of the points above have advantages, you can allocate them for savings and plan to buy household furniture.

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