There are many ways to save. You don't have to try them all, but choose the one that suits you best. For those who want to save without feeling financially burdened, you can consider soft saving. With soft saving, you don't need to save in large amounts at once.
What Is Soft Saving?
Flexibility and comfort are what you get when you try soft saving. In contrast to aggressive saving that emphasizes how to grow savings and achieve financial goals more quickly, soft saving is a financial approach that emphasizes the present and current financial situation. That way, you are not burdened with the need to save large amounts at once.
In difficult situations such as experiencing a salary cut, someone who does soft saving can adjust the amount of money saved. With a more relaxed and flexible way of saving, someone can still live the lifestyle they want.
Soft saving eliminates the feeling of being forced or pressured to save a certain amount every month. Soft savings also help someone to invest their money in meaningful things in life, such as new experiences, mental and physical well-being and self-development for a better career.
However, one important thing to remember is that soft saving still needs to be done consistently so that the future is not neglected. However, feeling at ease in life knowing that the future has been well prepared is also important.
Monthly savings tips with the soft saving principle
To make saving feel light yet still impactful, here are some monthly savings tips you can apply. First, don't wait for leftover money at the end of the month; instead, set aside a portion at the beginning, even if it is a small amount. Second, create specific savings categories so you are more motivated by seeing your progress. Third, reduce the guilt if the amount you save has to decrease at any time due to urgent needs; the most important thing is that the habit of saving continues.
Applying Soft Saving at Bank Jago
At Bank Jago, you can use the savings method you have chosen, whatever it is. The Jago application offers innovative solutions that make it easier for everyone to save and manage their finances the way they want.
1. Set your spending and saving priorities using the Jago Pocket
To start budgeting with the right allocation of money for each need, you need to set priorities. What will you use the salary or income you receive every month?
To make it easy and practical, use the Jago Pocket. Create Jago Pockets in the number according to your needs. One Pocket for one need. Don't worry, you can create up to dozens of Jago Pockets, all of which can be monitored simultaneously via the Jago application. The Jago Pocket functions like an account. By creating a new Pocket, you open a new account at Bank Jago.
To separate savings from expenses, you can create different types of Jago Pockets. For example, to achieve financial goals you can use the Saving Pocket. Meanwhile, for daily expenses, you can use the Spending Pocket.
2. Do automatic budgeting, including for savings
The benefit of having an account at Bank Jago and using the Jago application to manage your finances is that you can allocate your budget to each Saving Pocket and Spending Pocket automatically. You can read how to do automatic budgeting here.
This automatic monthly saving method helps you stay disciplined without feeling burdened. Simply set a small amount that feels comfortable for you, and let the Jago application regularly move it to your Saving Pocket every month.
With this done, you ensure that there is always money going into your savings. At the same time, you can be hassle-free in setting a budget for various expenses.
Whenever necessary, you can also adjust the budget and frequency that have been set. Do this by tapping the Pocket that you want to edit the automatic budgeting.
3. There's no harm in considering bigger financial goals or long-term financial goals
Even though the focus and priorities are on the present, you can still think about what you want to achieve in the future. Is owning a house a dream you want to achieve 10 years from now? Is starting a family a priority?
By considering your future financial goals, you can start saving for the right things without sacrificing what is a priority in your life right now.
Moving Savings to a Jago Term Deposit After Accumulating Enough
When you reach a certain amount, you can move your savings in the Saving Pocket to a Jago Term Deposit. Saving in the Term Deposit can start at just Rp1,000,000. By moving money here, you can get higher interest than the Saving Pocket so your savings can grow faster without you doing anything.
Opening a Term Deposit, just like creating a Saving Pocket, can be done easily and quickly via the Jago application.
In other words, you don't need to take the time to come to a Bank Jago branch just to open a deposit. Likewise, when you want to renew your deposit and close your deposit someday, you can do them all practically via the Jago application.
