Who among Jagoans wants to buy a car? Have you got the money yet? In this article, Jago would like to share 5 smart ways to save money for a car.
How to Save Money for a Car?
1. Choose a car you want and calculate the down payment
First of all, of course you need to know for sure the car you want. If you are still indecisive because you are interested in a number of models, you can research the estimated price for each model and then choose the one that best fits your budget.
Find out how much down payment you have to pay. Don't forget to also calculate the remaining amount you still have to pay off after paying the down payment. Also, take into account how long it will take to pay it off until the car is actually yours 100%.
2. Set up a savings account for the car
So that you don't get confused, it's best if you set up a car savings account. For the down payment and paying off the installment later. By having a savings account for the car, the needs related to buying a car will not be mixed with other needs.
You can use the Jago application to create a Saving Pocket. After the Saving Pocket is successfully created, you can start setting aside money. Want something even more practical? You can activate the Autosave feature. Once activated, saving will be automatic and you no longer need to manually transfer money to the Pocket.
3. Don't forget about additional expenses
You also have to include additional car-related expenses in the budget. For example, there are car maintenance costs and gasoline costs. If you want to insure your car, you also need to take insurance payments into account.
So, it’s important to remember that you need to save money not only to purchase the car, but also to cover additional expenses.
4. Limit or cut unnecessary expenses
The money you need to save up for a car is quite a lot. To save up even faster, you can start limiting or even cutting unnecessary expenses temporarily.
Wants, which are different from needs, are one area you can limit or cut completely. Examples of wants are entertainment and eating out. In addition, to avoid out-of-control expenses, you can make a budget and then always stick to the budget.
You can also feel how budgeting can be so easy and practical with the Jago application. Just create a Pocket for each expense and then set the budget. You can monitor expenses at any time and make adjustments if needed.
5. Pick up a side job
Lastly, you can save up for a car faster by picking up a side job. With an additional job outside of your main job, you will make more money.
To avoid being used for other needs, the money you get from a side job should be directly saved in the Saving Pocket that you previously created for your car purchase.
So, it's time to start saving money to buy a car. Be sure to take advantage of the various features in the Jago application that can help you achieve your financial goals.
The Jago application can be downloaded here for those who don't have it yet.
