Jakarta, Armfalcon.com – Through Marshed’s Youtube account, artist Marshanda tells about his life, which is currently experiencing financial difficulties and has experienced health problems.
“Many of the trials I have faced in my life are difficult, but again in this video I don’t want to promote or focus on what difficulties I have, but just for the background story so you know I have other health diagnoses such as chronic inflammation, kidney problems, prediabetics, and since then my finances have decreased,” Marshanda said in a video on Marshed’s Youtube account, quoted by Armfalcon.com (4/5).
“I… am in a position where I have to borrow money from people around me in a very unstable financial situation and all of these are reasons why I post less on social media…” he continued.
Marshanda admitted that this year he was grieving for the loss of his loved ones. However, on the one hand he is also grateful because there are still good people who finally help him, he will continue to work in the future.
A person’s economic condition will not always be at the top, sometimes we have to be prepared with all the risks and calamities that exist, especially if we are someone who does not have a steady income like an artist.
Here are solutions for a calm and financially secure life that you can apply in life.
Set a reasonable debt limit
Being forced into debt is actually something we should avoid. However, if this has already been done, you must keep the amount within reasonable limits.
The maximum safe installment is 30% of income, when your installments exceed 30% of income, you will have difficulty meeting your daily needs, saving, and investing.
Meanwhile, to find out whether our debt is too large or not, you can use the ratio of debt to assets. The value of this ratio will measure the amount of debt that has not been paid, compared to the total assets that we have.
The formula for finding the value of this ratio is:
Total Debt x 100%
The maximum value of this ratio is 50%. If your ratio is above 50%, then you must be vigilant because the total value of your debt is more than half of your total assets.
The ideal emergency fund
Emergency funds are savings that must be prepared to anticipate unwanted or urgent matters. Call it like loss of income, damage to assets, and so forth.
The need for an emergency fund for someone with a secure irregular income is 12 times the monthly expenses. However, if the benchmark is only monthly expenses, then this will include lifestyle costs that are considered less needed when you lose income.
In order for the amount of emergency funds to be collected quickly, only use the basic and mandatory expenditure benchmarks. Because you can postpone things related to lifestyle as long as you lose your income, or reduce it.
Medical expenses are not cheap to pay and will continue to experience inflation from year to year. Data from Mercers Marsh Benefit states that the trend of increasing medical costs in Indonesia is predicted to reach 13.6% in 2023.
This shows that it is likely that the increase in your income in a year will not outweigh the increase in medical costs.
By having health insurance in the form of BPJS Kesehatan or private insurance, the risk of spending on treatment will be transferred to the insurance company or the government (if using BPJS Kesehatan).
Your savings will not be depleted when this disaster occurs, and neither will your total net worth.
Critical illness insurance
Critical illness insurance can also be a requirement that can be met when you already have health insurance. The way critical illness insurance works is by providing compensation in the form of cash when someone is diagnosed with the critical illness.
With critical illness insurance, liquid compensation money can be used to pay for the life of the insured and his family when he is not hospitalized.
Therefore, the insured does not need to owe for his living needs.
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