The sandwich generation is mostly millennials who have recently started a family and being a part of this generation is not easy. The majority of people in this productive age must support their family, as well as parents who are no longer productive. To address the issue among this generation, wise financial management could be the first step.

Here are the five Financial Management Tips recommendations for the sandwich generation:

1. Split the responsibilities

It is difficult to alleviate the needs of oneself and one's family. If you have siblings, the first thing you should do is try to communicate with them.

2. Record Financial Management

Calculate your monthly income and expenses. Also, keep track of your dependents on a monthly basis. The first approach is to understand the flow of living costs in and out.

3. Create Financial Plan

Make a wise financial plan by estimating how much you can save once you have recorded your financial management. If your income and expenses are not equal, you should consider about adjusting your monthly cash flow. To make it easier to track your finances, open a digital savings account, such as Maybank U saving account  which offers a variety of benefits, including;

• Free cash withdrawal fees at other bank.
• Free online transfer fees to other banks via M2U ID App or M2U ID Web.
• Free admin fee every month.

4. Take Advantage of Promotions

Take advantage of exclusive discounts at a range of retailers who collaborate with Maybank to save money whether shopping or transacting.

5. Separate accounts for daily transactions and savings

Discover Maybank U/ U iB Savings Account, which serves as the primary account for daily transactions such as shopping, paying monthly bills, interbank transfers or top up an e-wallet. And activate the U Goal Saver / U Goal Saver iB account, which serves as a savings account. Regular savings options are available starting at Rp. 100,000,-/month, with a variety of saving periods ideal for the Sandwich Generation.

Follow the five suggestions above to help you manage your finances wisely so that you can gradually overcome the strain. You may effortlessly manage your finances to enjoy a pleasant life while also easily preparing savings for the future through Maybank Indonesia’s M2U ID App