Domestic life brings many differences, one of which is in terms of finances. It is no longer personal finance that must be managed, but household finances.
After Getting Married, What Big Expenses Do You Need to Make a Budget for?
1. Emergency funds
Always being prepared for uncertainty is a good thing to do. Uncertainty, which requires an emergency fund, can cover many things such as job loss that can cause a drastic decrease in household income as well as illness or an accident that costs a lot of money.
2. Child’s education funds
The presence of a child completes your small family. Your child’s education funds are not cheap and it is highly recommended for you and your husband to start preparing the funds from now on. Not only tuition fees, there are also costs that need to be prepared for tutoring fees, pick-up fees, extracurricular fees and pocket money.
3. Regular household expenses
Because there are 2 heads in a household (not including children), regular expenses to meet household needs will usually be greater than before you got married. For that, you need to include them as a priority when making budget allocations.
What is meant by regular household expenses? Although they can vary between families, common household expenses include daily food and transportation needs, monthly bills such as electricity, water and wifi at home, monthly groceries, etc.
4. Traveling
Traveling both in Indonesia and abroad is one way to enjoy and spend time together. It is undeniable that traveling requires a large amount of money. If you want to be able to travel at least once a year, then you can start setting aside money to put into vacation savings with your husband.
Manage Family Finances Transparently in Jago Syariah’s Shared Pocket
As you may already know, the Pocket feature in Jago Syariah makes it easier for you to manage your finances. There are 2 types of Pockets to manage various needs, namely Saving Pocket and Spending Pocket.
1. Husband and wife can save together in a Shared Pocket that is a Saving Pocket
For shared financial goals such as saving money for child’s education and tuition fees, preparing funds for family vacations and buying a car, you can use the Shared Saving Pocket.
Create a Saving Pocket first on the Jago app, then invite your husband to join the Pocket. The Pocket will immediately turn into a Shared Pocket.
For Shared Saving Pocket, you and your husband can set targets together and when you want to achieve financial goals. After that, each of you only needs to fulfill its contribution in saving every month according to the agreement.
2. Husband and wife can manage spending together in a Shared Pocket that is a Spending Pocket
Apart from the Saving Pocket, you can also invite your husband to jointly manage expenses using the Spending Pocket. For a Shared Spending Pocket, you can set the role of each member, in this case your husband, whether he can also use the money in the Pocket.
Transaction history of using money can be seen by you and your husband so as to maintain transparency. The Shared Pocket that has been created will appear in your and your husband’s Jago application. As such it's easier and more practical to manage household money together, right?
Some of you may be wondering, how many Shared Pockets can be created? The great thing is, for now, you have no limit on how many Shared Pockets you can create. In other words, you can have more than 1 account together with your husband.
Manage Household Finances More Blisfully with Wadiah Yad Dhamanah Akad
Apart from being more transparent, you and your husband can manage household finances more blisfully. Why? Because the Shared Pockets, both Saving and Spending Pockets, use Wadiah Yad Dhamanah akad in accordance with sharia principles.
What is akad? In the context of Islamic banking, an akad can be referred to as a type of agreement that underlies a sharia transaction. And, the Wadiah Yad Dhamanah akad is an akad to save money at the bank. It is in the form of deposit and is interest free. You can also take the money you have deposited whenever you want.
Time to start getting used to managing family finances with your spouse. Jago Syariah is ready to help you with its Pocket feature.
Make sure you choose Jago Syariah when completing your account registration.
