Saving money, even if only a little, can have a significant effect if done consistently every month. You may know people whose lifestyle is not extravagant, so they can have enough money to save or invest. You may think it takes hard work. Actually, everyone can spend money wisely. Try to follow the 5 simple tips in this article.
5 Simple Money Saving Tips Everyone Can Do
1. Prepare a budget for everything
So that you don't spend excessively on one purchase or don't always follow your desires, you can start making a budget for each need.
Having a budget for every need doesn't mean you sacrifice your desire to have fun. You can make a budget for each need, including the need to have fun.
An important key is that when making a budget, you need to really stick to it. If you have set a certain amount for self indulgence, the amount should not increase until the end of the month.
Of course, allocation for self indulgence is determined after you allocate money for monthly bills, daily expenses and other priority needs.
Find out the difference between needs and wants here.
2. Don't postpone saving and/or investing
Setting aside money for savings has many benefits. What if you have an emergency? You can use the existing savings immediately. Then, which one do you choose? Living a comfortable retirement life or still having to work in your old age? If you are disciplined in saving from an early age, there will be enough money to support you when you retire.
In addition to saving, you can also invest, for example. The purpose of investments is to earn additional income beyond the main income.
3. Have a clear goal of saving money through Moneyfesting
Saving money has many purposes. Apart from saving money for future savings and emergency savings, what is your motivation for saving money? Do you want to buy a house 5 years from now? Do you want to have enough capital to start your own business?
If you have a clear goal, you will be motivated to save money. You will think twice before splurging. Let's do Moneyfesting so that your financial dreams and goals can come true and you can be on a healthy financial path.
4. Compare prices before buying something
When you want to buy something, be it food, clothing, medical supplies or anything, you can compare prices first. It does take a little patience to compare prices.
But, if by comparing prices and then buying from a seller who offers a lower price, you can save more money, why not?
5. Learn various Do It Yourself (DIY) techniques
What can you do yourself? There’s a lot. By learning various DIY techniques, you can save money for other needs. For example, if you find a hole in your t-shirt, you can sew it yourself instead of going to a tailor. If you want to grow plants, you can use used paint cans, so you don't have to spend money to buy plant pots.
In addition to saving money, actually with DIY, you equip yourself with new skills that can be very useful for the future.
Where is it Safer to Save Money?
You can start trying to apply some of the tips above by saving money at Bank Jago.
Why save at the bank and not at home? Find reasons not to save money at home in this article.
After registering for a Jago account, you can start using all the financial management features available in the Jago application.
For budgeting and separating various needs, you can do it practically in Pockets. To pay all kinds of monthly bills on time, you can use the Plan Ahead feature.
You can also set a savings target for your Saving Pocket. Over time you can see progress and predict whether your goal can be achieved on time. This will motivate you to save even more.
To save money in the form of savings that also gives you interest, you can lock funds in a Locked Pocket. The Locked Pocket has flexible locking duration. Once you have accumulated enough money, at least Rp1,000,000, you can open a Jago Term Deposit and move your savings there to get higher interest.
Related article: Differences between Locked Pocket and Jago Deposit
Is it Safe to Save Money at Bank Jago?
No need to worry, Bank Jago is a digital bank in Indonesia that offers various security, comfort and convenience. Starting from a multi-layered security system to 24/7 access, you can enjoy everything by having a Jago account.
Read complete information about the security and convenience offered by Bank Jago here.
