Blog Post --- Published on December 13, 2021 | Last Updated on February 03, 2024

4 Types of Savings that Everyone Should Have, Did You Know?

4 Jenis Tabungan yang Setiap Orang Wajib Punya, Sudah Tahu? 4 Types of Savings that Everyone Should Have

The causes of anxiety and stress can be varied, one of which is money. In fact, anxiety and stress can have a negative impact on physical and mental health. One way to reduce anxiety and stress is to have sufficient savings through good financial management. There are 4 types of savings that everyone should have.

Everyone Should Have These 4 Types of Savings

1. Savings for emergencies

Who can predict what will happen next? This is the reason we need to prepare ourselves by trying our best. So, if something unexpected happens, we already have a way to deal with it.

Emergencies are included in unexpected events. According to the Big Indonesian Dictionary (KBBI), what is meant by emergency is "a difficult situation that is unexpected that requires immediate response". Emergency can also be interpreted as "a state of necessity".

Therefore, events such as long-term illness, serious accidents, job losses and natural disasters such as fires that make business premises razed to the ground are considered emergencies.

To deal with an emergency as described above, a large amount of money is needed. This is where emergency savings plays an important role. Without an emergency savings, you have to be forced to take money that is usually used to meet daily needs.

2. Savings for Retirement

Old age should be a happy time. You can do whatever you want, without being burdened with work in the office, for example. However, this happy time can become a sad time if you don't have enough retirement savings.

It would be nice if when we enter retirement, we don't depend on or burden our children and grandchildren. Children and grandchildren will have their own dependents. As much as possible we should not make them the sandwich generation.

To be able to live your old age comfortably, you need sufficient savings. Avoid thinking that retirement is still many many years from now and that you don't need to start saving early.

3. Savings for expenses that are not routine

A number of expenses do not occur regularly every month, but maybe every 3 months, 6 months, 1 year. Some irregular expenses include car insurance, home insurance, angpao during Chinese New Year and gifts during other major celebrations.

So that you are not surprised and spend a lot of money on the due date, you need savings. You just need to consistently set aside money every month to this savings, so it doesn’t feel like a burden when the time comes.

4. Savings for short-term goals

Do you want to buy a new gadget or go on a trip every month? You need special savings for short-term goals. So, you don't need to fiddle with emergency savings and retirement savings.

You can also set aside some of your money to achieve the short-term goals that you have set.

Save in a Fun Way with the Jago Application

So that saving is fun and doesn't feel like a burden, you can start saving using the Jago application.

There is the Saving Pocket feature that you can use. You can create up to 20 Saving Pockets. 1 Saving Pocket for 1 financial goal. For each Saving Pocket, you can set a savings target and monitor your savings progress.

Then, you can also use the Autosave feature in the Saving Pocket. When the Autosave feature is active, the Main Pocket will automatically transfer the amount of money that you have specified to the Saving Pocket.

In addition to Saving Pockets, you can also save in a Locked Pocket. This Locked Pocket is very suitable for you to save your emergency fund and retirement fund because the Locked Pocket will lock your money according to the duration of your choice. Money is safe, you don't use it for daily needs or to meet your short-term goals.

Interestingly, the Locked Pockets offers competitive interest, higher than the interest earned in regular savings accounts. So, your money sitting in a savings account doesn’t have to be in vain. When the lock opens, the money has grown.

Download the Jago application now to be able to enjoy features that can help you save more easily, practically and fun.

*Interest rate can change at any time according to bank policy

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