Having sufficient savings and investments is one of the keys to a peaceful life, free from worries, for example about unexpected costs or retirement. This differs from relying on a romantic partner for support. Financial stability is essential for peace of mind, as a relationship alone cannot guarantee a worry-free life if there's a lack of funds.
The Value of Savings and Investments in Fostering Peace of Mind and a Tranquil Life
Being disciplined and diligent in saving money is important for several reasons.
1. Emergency funds provide peace of mind
Unexpected events like vehicle breakdowns or sudden medical needs can cause significant stress and financial strain. While loved ones can offer emotional and logistical support, they cannot replace the necessity of readily available funds to address these emergencies. Savings allocated for such contingencies provide a safety net, ensuring peace of mind and the ability to navigate unforeseen circumstances with ease.
2. Build a comfortable future through savings and investments
Saving and investing aren't solely for the present; they ensure a comfortable future where you can reap the rewards of your efforts without having to work tirelessly. By diversifying your investments, you can increase your money's value over time, allowing you to live comfortably in your golden years. Both you and your partner can enjoy a worry-free retirement if you diligently save and invest now.
3. Fulfilling your dreams becomes possible with savings and investments
Everyone has dreams, whether it's traveling the world, owning a home, or performing the Umrah and Hajj pilgrimage for Muslims. These dreams can be achieved by saving and investing regularly. Some dreams may require individual effort, while others can be pursued with a partner. Regardless of the dream, consistent saving is key to turning it into a reality.
The Difference Between Savings and Investment
Both savings and investments can bring you peace of mind, but they are different. Savings are easily accessible funds for daily needs and emergencies. Investments, like deposits, mutual funds, and stocks, are ways to grow your money over time. So, while you work hard to earn money, investments allow your money to work hard for you as well.
Save and Invest Consistently with Bank Jago and Its Ecosystem
Regardless of your age, it's crucial to start saving and investing as early as possible. By leveraging the power of compound interest, you can significantly enhance your savings over time and achieve your financial goals. The earlier you begin your savings journey, the more substantial the results you can attain.
1. Utilize the Jago application to automate your savings at Bank Jago
Automate your savings easily and conveniently through the Jago application. Begin by creating a Saving Pocket, then activate the automatic budgeting feature to regularly allocate a portion of your salary to savings.
You can have lots of savings at once in the Jago application
Using the Jago application, you can open several savings at the same time. If you have five financial goals, you can create five Saving Pockets. Jago's automatic budgeting feature allows you to allocate funds to multiple Saving Pockets, each with a designated allocation amount and frequency.
Want to earn more on your savings and ditch those spending urges? Here's a jago tip: Lock your Saving Pocket for at least 14 days and watch your interest grow. This trick helps you stay on track with your financial goals. Once locked, your Saving Pocket becomes a Locked Pocket. Try it out!
2. Open a Jago Term Deposit through the Jago application to start saving or investing
With a Jago Term Deposit, you can earn higher interest than your Saving Pocket and Locked Pocket. Choose the saving period that fits your needs. Check the latest Bank Jago interest rates on this page.
You can also save your emergency funds in a Jago Term Deposit. Note that you will not receive deposit interest if you withdraw early, but you can withdraw whenever needed without a fine or early withdrawal penalty.
3. Invest in mutual funds and stocks with the Bank Jago ecosystem
In the current digital era, investing has been simplified, especially with Bank Jago's integrated financial ecosystem. Investing in mutual funds and stocks is now as easy as online shopping.
Link your Jago and Bibit accounts to begin investing in mutual funds. The Jago-Bibit integration simplifies transaction processing, portfolio monitoring, and overall financial management. Additionally, you can set up routine investments in Bibit using Jago Autodebit as your payment method. The investment fund top-up process in Bibit is both swift and straightforward due to its direct connection to your Bank Jago account.
To start hassle-free stock investing, open a Jago Customer Fund Account (RDN) directly from the Stockbit application. Enjoy the convenience of topping up your RDN Jago balance directly from your Pocket in the Jago application, enabling quick and efficient stock transactions.
4. Save with your partner using Jago's Shared Pocket
Saving with your partner can be fun and motivating. Use the Jago application to create a Shared Pocket and set a shared savings goal for something you both want. While a partner can bring peace of mind, savings and investments are crucial for daily life and your future. Remember to prioritize both saving and investing.
