Jagoans, have you ever dreamed of pursuing your passion, doing something you really love? You must be really happy when it comes true, when it is not just wishful thinking. Having the freedom to do something you enjoy is the wish of many people. But, what about your current job or profession? Should you quit your job to pursue your passion?
Do These Before Pursuing Passion
If you have the opportunity to pursue your passion, of course you shouldn't miss or blow it. However, some things need to be carefully planned and considered beforehand. One of them is about the emergency fund.
If you already have an adequate emergency fund, it will be easier for you to leave your current job to follow your passion. The absence of an emergency fund can put pressure on your financial security.
Even though there is no standard for how much emergency fund you should have, you can try to have an emergency savings of at least 3 times your monthly expenses. It's better if you have more.
In pursuing passion, having high optimism is very important. However, you also need to consider the possibility that what you have planned may not go as expected. For example, in the first one to two months you may not be able to get as many clients as you hope. If this is the case, for living expenses, you may need to deep into your emergency savings.
You also need to consider other emergencies such as your computer or laptop that suddenly breaks down, when you really depend on it because your passion is to create blog posts that can help many people improve their wellbeing. Having an emergency fund allows you to buy a new computer when it stops working.
Apart from having an emergency fund, you also need to be 100% sure of what you are chasing. Make sure that it's really your passion, not someone else's passion. For example, you see other people succeed as vloggers and you want to follow in their footsteps. But, is being a vlogger really your passion?
Because pursuing passion is different from making a lot of money. Pursuing passion is about doing what you really love, providing value and growing every day. Of course, it's a bonus if you earn higher income when doing so.
Actually, it's important to know that to pursue your passion you don't need to quit your current job. You can do both simultaneously. Only leave your job now when you are ready, when you have a very clear plan and concrete steps to realize that passion, and definitely have an emergency fund.
Building Emergency Fund in the Locked Pocket
There are many places where you can save your emergency fund. For example, you can put money in a piggy bank. However, saving in a piggy bank is risky. Money can easily be used for other purposes because the piggy bank is very close to you.
Another alternative is to put money into savings. But, you can also easily use the money in your savings account for other non-emergency needs, for example, for buying snacks or going to concerts.
As a solution, you can try saving your emergency money in the Locked Pocket. Why? Because as the name implies, the Locked Pocket will lock money and save it from being used for non-priority expenses. But, you don't need to worry because the Locked Pocket offers flexible locking period and it can start from as short as 14 days.
In addition, the Locked Pocket offers higher interest than the Saving Pocket. So you have more emergency money when the lock of the Pocket opens. If there is no emergency need, you can continue to lock the Pocket.
If anyone is wondering where to use the Locked Pocket, this is the answer. You can find the Locked Pocket in the Jago application, a financial management application that is supported by the power of the digital ecosystem because it can be linked to GoPay, Bibit and Stockbit.
Now You Can Also Save Emergency Funds in Jago Deposit
Apart from the Locked Pocket, another great option that you can choose to save your emergency fund is the Deposit, a Jago feature that was launched in June 2023.
If you want to be able to save emergency funds more quickly, the Deposit is the right choice because the minimum money to save is Rp1,000,000.
With the Deposit, you are also free to withdraw emergency funds at any time without having to pay penalties due to premature withdrawal before. Not only that, you also don't need to stop by Bank Jago just to withdraw your Deposit.
