Jagoans, try to remember, what did you study when you were in school? You learned mathematics, languages, computers and some other lessons. But, did you also learn about money?
Jago doesn’t think so. Maybe even the most basic things like budgeting are not taught in schools. In fact, learning about money is one of the most crucial life skills we will use every day until old age. Unfortunately, the "science of money" (or financial literacy) is often considered a taboo subject or left to each individual to learn the hard way through trial and error.
Without a solid understanding of money management, someone might have a high income but still feel like they're struggling because they don't know how to allocate it. On the contrary, those who master the science of money will face the future with peace of mind, knowing how to make money work for them, rather than the other way around.
Reading this article can help you because Jago will discuss 5 money lessons that you didn’t learn in school.
Did You Ever Learn These 5 Money Lessons in School?
1. Budgeting can make your life easier
Those who have consistently made a budget for all kinds of needs every month must have felt changes in their lives, such as life becoming easier and less stressful.
It's true, budgeting means you have a plan for what you're going to do with your money. With good budgeting, you won't forget to pay your monthly bills. You will also set aside some money for savings before using it for fun.
Budgeting also helps you take control of your finances and will make it easier for you when you have to make financial decisions.
2. The importance of time when managing money
Time plays an important role in many aspects of life. For example, if you are just a few minutes late arriving at the airport, you could miss your flight.
Regarding money, if you are late paying your monthly bills, you will be fined. Not to mention the consequences like temporary disconnection of the internet and electricity, for example.
Then, the role of time is also important in saving. For example, the earlier you save for retirement, of course, the more money you will have when it’s time to retire if you save the same amount every month. Not to mention the compound interest you will get the earlier you start saving money.
3. Discipline leads to freedom
One way to enjoy freedom is to practice discipline. What is meant by freedom? Of course this depends on each person. For example, by having money, you can help people in need, if that is something you are passionate about.
How do you practice discipline? You can consistently stick to the budget you have made and automate your savings so you always save every month.
4. It's safe when you have an emergency fund
Life is full of unexpected events. A refrigerator that suddenly doesn't work, a car that suddenly breaks down, a sudden loss of work and so on.
Even though emergency events are not fun at all. But, you can breathe easy when you have an emergency fund that you can depend on.
Also read: 4 Steps to Realizing the Goal of Building an Emergency Fund
5. Explore extra income
If you want to save more money but don't want to limit yourself to having fun, you can explore other sources of income. You can do freelance work on weekends, invest in mutual funds or stocks and many more ideas to try.
The Science of Money is a Lifelong Learning Process
The financial world is constantly evolving, from digital transaction methods to new investment instruments. Therefore, never stop learning about money. The more financial knowledge you absorb, the better you’ll become at seizing the opportunities that come your way.
Easily and Practically Manage Finances with Bank Jago Using the Jago Application
You never learned those 5 money lessons when you were in school, did you? Let's be jago at managing finances with Jago.
The Jago application has various features that you can use. To separate your needs and budgeting, you can use the Pockets feature. To always pay bills on time, you can use the Plan Ahead feature.
For hassle-free and consistent savings every month, simply use the Auto-Budgeting feature. If you want to save with higher interest, try the Locked Pocket and Jago Term Deposit.
If you already have the Jago application, hurry up and take advantage of all the existing features, Jagoans. What if you don't have it yet? You can download the Jago application and complete your Jago account registration from anywhere and at any time.
