Many people say, "Money cannot buy happiness." We hear this statement often, but is it really true?
Is It True That Money Cannot Buy Happiness?
In reality, money is a powerful tool to buy happiness, well-being, and freedom, provided we know how to use it correctly.
Money certainly cannot buy true love or eternal health, but it can buy fundamental things that eliminate suffering and free up time—two key factors leading to a happier life.
What Are Examples of Happiness That Money Can Buy?
Discussing the happiness that money can buy will give you a long list, because the happiness you want may be different from the happiness that other people want.
For some people, spending time with family and creating beautiful memories with them is a kind of happiness. Creating beautiful memories can be done in various ways. Some are free, but some others require money. For example, holidays wherever you want.
For many others, health is happiness. To be able to live a healthy life by eating healthy food requires money. Because in general, food that is too cheap is not good for the body. Likewise, when you are sick and want to recover quickly, you need money to buy medicine, go to the doctor or be treated in hospital.
For newly married couples, owning a house is a kind of happiness. To be able to buy a house, money is certainly needed.
In other words, money becomes a source of happiness not when it is spent on temporary luxuries, but when it is allocated for:
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Buying Freedom: Money that is well-invested gives you the option to work less, choose a job you love, or retire early. This is happiness in the form of complete control over your freedom.
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Buying Peace (Overcoming Stress): Money allocated for an emergency fund eliminates the biggest financial anxiety and stress. Peace of mind is happiness itself.
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Buying Experiences: Spending on experiences (vacations, new courses) can provide greater happiness.
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Helping Others: Money used for giving and helping others (charity or assisting family) creates a sense of meaning and purpose, which is another source of happiness.
Indeed, this does not mean that all types of happiness can be bought with money. Time is an example. No matter how much money you have, you cannot return time, repeat time, or write a different story about what happened in the past.
So, what can make you happy and do you need money to buy or make it happen?
How to Manage Money to be Able to Buy Happiness
Managing your finances well is an important step to be able to start buying the happiness you want. Let's look at several ways that you can apply right away.
1. Manage savings and expenses using the Jago Pocket
In order to live a happy life by getting what you want and to ensure peace of mind at the same time, managing funds for savings and expenses is important.
Prepare savings to achieve your dreams in the Jago Saving Pocket. Likewise for expenses. So that you don't spend excessively and don't take up your savings or obligation budgets, manage it easily and practically using the Jago Spending Pocket.
In the Jago application, you can create lots of Jago Pockets. The Jago Pocket is the same as a bank account. So, having 20 Jago Pockets is the same as having 20 bank accounts. Now, you no longer need to worry if you have a lot of expenses and savings.
2. Consistently create a budget plan for each need
After creating the number of Pockets as you need and personalizing each Pocket for easy monitoring, it's time to create a budget plan.
Traveling abroad makes you happy? Make sure you regularly save for this goal. Sending your mother and father on the Hajj makes you happy? Make sure you set aside money to save so that your parents can quickly go on the Hajj.
Whatever makes you happy can be achieved if you consistently make a budget plan. In the Jago application, you can budget without any hassle. Take advantage of the Auto-Budgeting feature to automatically move money from one Pocket to another. Select the Jago Pocket to which you want to automatically allocate the budget and set the nominal and frequency of budget transfers.
Be Disciplined in Investing to Grow Assets to Buy More Happiness
Apart from regularly setting aside money into savings, another way you can consider is investing. The returns from investments can help you buy more happiness.
One type of low-risk investment is mutual funds. You can feel the ease of investing in mutual funds from Jago's collaboration with Bibit, which creates a digital ecosystem.
Link your Jago account and Bibit account to invest in mutual funds more practically right away. Top up your Bibit investment from the Jago application and monitor the profit you get from your investment also through the Jago application. The more money you earn, the faster you can buy the happiness you want.
Quick Q&A About the Jago Application
1. How can the Jago Pockets help me overcome financial stress?
Financial stress often comes from a feeling of uncertainty. With Jago, you can separate every expense category and savings goal into different Pockets. The sense of security and control that comes from knowing your emergency fund is safe and intact or that you have sufficient savings is key to achieving peace of mind.
2. Does Bank Jago charge a monthly admin fee that could deplete my savings?
No. One of the advantages of Bank Jago is that there are no monthly administration fees per Pocket. This ensures that the money you allocate for saving remains intact and maximized.
3. I often overspend. Which features in Jago are best suited for me?
You can use a combination of three features:
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Pockets & Jago Debit Card: Limit the balance in the Pocket you link to your Jago debit card. Once the Pocket balance runs out, the card cannot be used, physically stopping the overspending. You can also set a daily transaction limit for your Jago debit card.
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QRIS Payment: Use the appropriate Spending Pocket for QRIS payments at merchants. Make sure you don't take the balance from your Transportation Pocket to pay for snacks or food.
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Spend Analysis Feature: Check this feature at the end of the month to see where your biggest wastefulness lies (e.g., Snacks or Entertainment) and immediately adjust your budget for the following month.
