DDHK.ORG - For Indonesian workers (TKI) working in Hong Kong, the ability to manage their salary is a crucial factor in ensuring their financial well-being while working abroad. With a minimum net salary of 4.730 Hong Kong Dollars per month, it is important for them to have financial management skills in order to become financially independent. financial and have sufficient savings when returning home and starting new business opportunities.
Setiawan Chogah, a content creator in the field of personal growth and finance who often shares tips through his Instagram account @setiawanchogah, provides valuable insight into the importance of managing wages for migrant workers in Hong Kong.
Setiawan conveyed three important points that a migrant worker needs to have in order to manage his salary wisely:
1. Ability to Make Budgeting
Setiawan stressed how important it is to make a budget or budgeting in detail. By understanding their income and expenses, migrant workers can identify areas where they can save money and ensure that their wages are used efficiently. Budgeting helps them manage the allocation of funds for basic needs, savings, investments, and also provides opportunities to plan for their future.
2. Ability to Save and Invest
Saving is a very important first step to building financial reserves. Setiawan suggested that migrant workers determine a certain percentage of their income to save regularly. Apart from saving, investing is also a wise step to optimize their financial potential. Setiawan recommends investment instruments according to each risk profile, such as mutual funds or safe long-term investments.
3. Ability to Manage Debt When in an Urgent Condition
Sometimes migrant workers are faced with unfavorable financial conditions so that borrowing money from fellow BMIs or through financial institutions is a temporary solution that must be taken.
Setiawan highlighted the importance of understanding the consequences of debt and how to manage it wisely. If in an urgent situation, migrant workers must prioritize paying debts that have high interest first. Having a clear understanding of what they owe will help them avoid bigger financial problems in the future.
Even so, Setiawan does not recommend borrowing money through institutions with a certain interest.
"If a solution to asking for help from relatives or fellow workers can still be attempted, this is much better," said Setiawan, but of course with a commitment to try to return the loan on time according to the agreement.
Suitable and Safe Investment Instruments
Setiawan also gave some instrument suggestions investation which is suitable and safe for migrant workers in Hong Kong to keep their money.
First, mutual funds are a good choice because they can be accessed with affordable capital and are managed by financial experts.
Second, time deposits or savings can be an option for saving emergency funds or short-term needs.
Third, for migrant workers who have a higher risk tolerance, selective investment in stocks, for example choosing both in the sharia index can provide higher profit potential.
With mastery of the three main skills in managing wages as well as a wise choice of investment instruments, migrant workers in Hong Kong can ensure a more stable and profitable financial future when they return home.
This skill will help them be more confident in facing financial challenges and provide opportunities for success in the future. [Editor]
