Personal Finance Strategies to Achieve Long-Term Financial Goals and Economic Independence

Ismiatul Khairiyah

Authors

Ismiatul Khairiyah STEI Masyarakat Madani Pamekasan Author

Keywords:

Personal Financial Strategy, Long-Term Financial Goals, Economic Independence, Financial Management.

Abstract

This study aims to examine personal finance strategies applied by individuals in an effort to achieve long-term financial goals and build economic independence. The research method used is a combination of qualitative and quantitative approaches, including in-depth interviews and questionnaire surveys. Primary data was obtained through interviews with respondents who had implemented personal finance strategies, as well as a survey of a representative sample of the community. Secondary data is collected from the analysis of related documents and literature, as well as statistical data from official sources. The results showed that respondents had various long-term financial goals, such as retirement preparation, financing children's education, and wealth building. They have implemented a comprehensive personal finance strategy, covering budget management, debt management, emergency fund formation, and investment portfolio development. This strategy is adjusted to the risk profile and time frame for achieving each individual's financial goals. The implementation of effective personal finance strategies has helped respondents achieve long-term financial goals gradually and increase their economic independence. The main supporting factors are financial awareness, self-discipline, and family support, while the challenges faced include income fluctuations, rising living costs, and economic uncertainty. The findings of this study can be a reference for the wider community in managing personal finances effectively to achieve long-term financial goals and build economic independence.

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