Jagoans, how many bank accounts do you have? Only 1 or several? Having multiple bank accounts is actually recommended for the following reasons.
3 Most Important Reasons to Have Multiple Bank Accounts
1. To make it easier to manage finances
When you only have 1 bank account, it will be more difficult for you to manage your finances. You have a hard time keeping track of where your money goes. Oftentimes, you also don't realize that you have used up most of your money until you check out the remaining balance.
By having more than 1 bank account, you can separate various expenses or needs. For example, if you run your own business. If you combine a personal account and a business account, it will be difficult for you to know whether your business has been making a profit.
Another example is that you can separate priority needs such as paying monthly bills. If you have separated monthly bills in a different account, you can pay all your monthly bills first before using the money for other needs.
2. To refrain from unnecessary shopping temptations
Many people have a tendency to spend all the money they have. But, most of the time, what you spend money on is not something that you actually need. It’s just you cannot see money sitting there quietly and not being used.
Having multiple bank accounts can help you refrain from unnecessary spending. You can only spend the money you have set aside for the shopping account. Money in other accounts cannot be used for shopping.
3. To make it easier to track and achieve various financial goals
Everyone has dreams or goals to be achieved in this life, including you, of course. What do you want to have or achieve someday? Do you want to have your own house, buy a car or pursue a higher education?
Whatever the goals are, they all need money. By having multiple bank accounts, it is easier for you to track the progress of your savings.
You will also become more enthusiastic and motivated to set aside funds for savings in order to achieve various financial goals more quickly.
Having Multiple Bank Accounts Can be in 1 Application, the Jago Application
Regarding having multiple bank accounts, you may have concerns about the impracticality and monthly admin fees that must be paid.
The monthly admin fees charged by banks are not small. This means that the more accounts you have, the more money you spend paying monthly admin fees. Not to mention if there are other costs such as the cost of making a debit card and so on.
Don't worry, because you can use the Jago application from Bank Jago. After you've finished creating a Jago account, you can immediately separate your various needs by creating Pockets. You can create Savings Pockets or Spending Pockets, depending on your needs. Each Pocket will have its own account number.
What’s more, the Jago application allows you to create up to 40 Pockets: 20 Savings Pockets and 20 Spending Pockets. There are no monthly admin fees. Every Pocket doesn’t require a minimum balance. And, opening a Jago account doesn’t require an initial deposit.
Creating a Pocket is very easy, Jagoans. Here are the steps:
- In your Pockets tab, tap the Add Pockets button.
- Give Pocket a name, and set the background color and picture.
- Choose the Pocket type.
- Tap the Create Pocket button and you're done!
Download the Jago application now and enjoy how easy and practical it is to manage finances and various needs with Jago.