Easy Ways to Manage Finance for Beginner Lawyers


Not a few young people are graduates of law graduates who want to become lawyers. They dream of becoming a reliable lawyer who is sought by many people to defend their case or problem.
Lawyers who can appear like this are usually not only because they have skills in the field of law but also have the expertise to manage their finances.

Those who are now successful attorneys have abundant assets with many valuable assets, starting from the way they manage their finances.
But there are also many lawyers who have a large income but because they are not good at managing their finances, so they do not have assets to save.

A lawyer, while undergoing his profession can not be separated from various problems. For example, complicated cases are involved, the client’s budget is minimal, staff workers come in and out, the scope of cases is very narrow, not to mention having to deal with the police.
In addition, to become a lawyer you will usually have difficulty developing without a cooperative relationship with another firm. So, how do you keep young lawyers carefully managing your finances even though you haven’t had a long career? Here are some tips to try:

1. Pay Debt As Soon As Possible

In starting a career as a lawyer, you have to spend some money to support your work. For example, building rent, salaries for employees, transportation costs, and management of legal cases.
If you borrow money from a bank or financial institution, pay the debt as soon as possible after you get a profit. After that, then you can start investing.
Keep as much as possible so that your credit is not stuck or has a problem. Do not let your firm’s reputation be polluted because of this error. Because it is unethical if your firm has to solve cases related to finance but at the same time has bad credit.

2. Save and invest

Compared to other types of work, if you have succeeded in becoming a lawyer, your income will be more than any other executive worker.
However, as much as possible do not waste money on luxury goods first, but continue to save and invest for the future of course.
Look at a figure like Hotman Paris, even though his lawyer career was very successful today, he continued to invest in property as another source of income.

3. Complete Self Appearance as a Lawyer

If you think this is less important and wasteful, it’s certainly not right! Because work as a lawyer requires you to look authoritative and classy. So, take the time to buy new suits, watches, and shoes with quality and well-known brands to be the capital of appearance as a lawyer.
In addition to supporting the appearance, you also have to equip firm offices with many books, such as the Criminal Code, constitution, and various types of Indonesian law books, such as agrarian law, commercial law, copyright law and intellectuals. These books will inevitably be needed to help solve certain cases.

4. Prepare pension funds and emergency deposits

While still young, set aside income to collect pension funds and emergency savings. Imagine, if you can save Rp1 million per month since the age of 25 years. When you are 65 years old, you will get around Rp.2.4 billion (assuming a return of 6%). Do not forget to also prepare emergency funds if something unexpected happens at any time

 5. Build relationships as much as possible and keep learning

If you already have your own firm’s office, that doesn’t mean you can work on legal cases alone. It is precisely if you are lazy to build cooperative relationships with other law firm offices, you might rarely get a case.

In addition, every legal case has different approaches and resolution techniques. So, make it an opportunity to increase knowledge and experience, so that if there are similar cases later, you already know how to solve them quickly and efficiently.