The habit of saving really needs to be maintained. It's a pity if you have started saving but you don’t continue, isn’t it? Your savings won’t grow. To grow your savings consistently, read on to find out about the 3 tips for saving money.
Grow Your Savings, 3 Tips for Saving Money
1. Make sure there is a budget for savings
How do you keep your savings from stagnating? You have to make it a priority. This means every time you get a paycheck, you have to make sure there is money set aside for savings.
You can create a budget for savings, just like you create a budget for grocery shopping, paying monthly bills and various other necessities. A budget can help ensure that money is used as planned.
2. Make saving automatic
The budget is there, now it’s time to ensure the money goes into savings. If you want something easy and practical, you can make saving automatic.
How? You can create a Saving Pocket in the Jago application. Actually, you can create more than 1 Saving Pocket. So, if you have more than 1 financial goal that you want to achieve from saving money, you can create a number of Saving Pockets as needed.
Once done, you just need to make sure that the Autosave feature is enabled. The money will be automatically transferred to the Saving Pocket at the time you have specified.
Since saving has become a priority, it's best if the automatic transfer is done at the beginning of the month or as soon as you receive your salary. This way, the money is safe from being used for other purposes.
3. Find ways to save money
In order to know if there are ways for you to save money or reduce expenses, you need to know what money is being used for. For this, you can use the Spend Analysis feature, which can also be found in the Jago application.
You may be surprised when you see where the money goes. Wow, it turns out that you have spent quite a lot of money on shopping because you often top up your e-Wallet. It turns out that you still pay for gym membership even though lately you have been exercising more often at home.
The above are just examples, Jagoans. But from analyzing expenses, you know which spending habits can be adjusted (expenses can be reduced). From here, you can save money and put it into savings. Savings then will continue to grow.
Let's keep on managing finances and make sure savings grow consistently with Jago. The Jago application can be downloaded here for those who don't have it yet.