Do you have a dream of traveling around the world one day? Doesn’t have to be one day, you can start manifesting by Moneyfesting with Jago so that your dream of traveling can come true. Want to have several savings or separate accounts for vacations? Want to start saving and investing at the same time for travel expenses? You can manage your finances the way you want with Jago.
Travel Expenses That Must Be Prepared
In order to start traveling, of course there are costs that need to be taken into account. Many factors influence how much money you have to prepare, such as the destination country, plane tickets, accommodation or place to stay while on holiday, traveling alone or with a tour, the food you want to enjoy, souvenirs you want to buy, and many more.
A holiday budget to Switzerland, for example, will certainly be more expensive than if you choose to travel around Thailand and fall in love with its various charms. This is because in Thailand, just by spending a little money you can enjoy delicious food (source: Okezone). Another example is souvenirs. You certainly have to prepare a larger budget if there are many people whom you want to give souvenirs to.
How to Start Saving for Your Vacation to Make Moneyfesting of Traveling the World a Reality
After deciding your travel destination, vacation time and researching all the costs required, you already know the estimated money you need to prepare. It's time to start saving. But how do you do it and what is the right savings instrument?
1. Budget regularly to ensure consistent salary allocation to vacation savings
To start, you can open a separate savings account for your vacation so that the funds don’t go to other savings. At Bank Jago, you can have multiple accounts or savings by creating the Saving Pocket via the Jago application. Personalize the Savings Pocket by naming it Holiday, Healing, Traveling Pocket or whatever you want.
To allocate your monthly salary to holiday savings automatically and hassle-free, you can automate your savings using the Autosave feature in the Saving Pocket. Set your savings target first before choosing to activate the Autosave feature.
2. Save from a small amount. Don't want to use the money for other needs? Create a Locked Pocket in the Jago application
If you have created a Saving Pocket, you can lock it to become a Locked Pocket. Even though your Pocket is locked, you can still add money at any time. So, no need to worry. Savings in the Locked Pocket can continue to grow the way you want. The main purpose of locking your Pocket is to secure holiday funds so that Moneyfesting of traveling around the world can really be realized.
3. Start saving in Jago Term Deposit to get higher interest when you have accumulated enough holiday funds
At Bank Jago, you can choose the best type of savings as you want. To enjoy higher interest than the Locked Pocket and Savings Pocket, save money in the Jago Term Deposit. Apart from competitive interest, you can ensure that your holiday funds are safe from being used for other purposes.
If you plan on having a vacation next year, you can choose the longest period, which is 1 year. So, holiday funds are definitely safe. You won’t use them for shopping or other needs. Moreover, you can open more than 1 deposit in the Jago application. For example, if you already have 1 Jago Deposit with a principal fund of Rp20,000,000 for travel, you can open another Jago Deposit with the same goal, namely traveling. The minimum placement of principal funds in the Jago Term Deposit is Rp1,000,000.
4. Save holiday funds in the form of mutual fund investments in Bibit
Apart from saving at the Jago Deposit, you can also enjoy the Jago digital ecosystem with Bibit if you are interested in saving money by buying mutual fund products.
Some of the main benefits that you can immediately enjoy linking your Jago account and Bibit account are free investment top-up fees in Bibit, you can save consistently for your vacation in Bibit using the Jago Autodebit feature and make mutual fund purchases directly from the Jago application so you don't need to switch applications.
5. Reduce monthly expenses
To save more quickly, you can also reduce expenses, starting from expenses that are less important or not a priority. In Jago, there is the Spend Analysis feature that makes it easy for you to find out how money was spent on during the month.
Want to know whether you spend too much money on coffee and snacks every day? Is shopping your biggest expense? Everything can be seen through the Spend Analysis feature, as long as you complete payments or transactions via the Jago application.
Additional Tips for a Worry-free Holiday Around the World
You certainly want to be able to explore various attractions in the destination country where you are on holiday without worry. Therefore, apart from saving at the Jago Term Deposit or Bibit, let's take a look at the following tips.
1. Anticipate unexpectedly large expenses when on holiday abroad
Especially for those of you who are traveling abroad for the first time, it's a good idea to know a number of expenses that may arise so you can prepare the funds well in advance.
Unexpected large expenses include excess baggage fees and costs for dealing with emergencies. For your next vacation, don't forget to keep these unexpected expenses in mind.
Read the complete article on Unexpected Big Expenses When You Travel Abroad for the First Time here.
2. Create Spending Pocket(s) for your holiday budget
When all the budget for your vacation is ready and collected according to the target, it's time to move it to the Spending Pocket in the Jago application. Why the Spending Pocket? So it's easier and faster when you want to use the money. The Saving Pockets cannot be used for payments.
You can put your entire holiday budget into 1 Spending Pocket or separate it into several Spending Pockets so that the souvenir budget, for example, is not used to buy attraction tickets. You can manage it just the way you want.
3. Use the Jago Visa Debit Card when shopping or making transactions abroad
Do you have a Jago Visa Debit Card? For those of you who haven't yet, you can request for it through the application because there are many benefits waiting for you. When you have the debit card in your hand, you can use it not only domestically but also abroad.
Shopping and paying for any transaction becomes practical with a tap or swipe of the debit card. No need to exchange money and carry large amounts of cash everywhere when abroad. If you need cash, you can withdraw it from an ATM machine with a Visa logo abroad.
Don't forget to link your Jago Visa Debit Card with your Spending Pocket as a source of funds. No need to worry if you only have 1 debit card because you can change the linked Spending Pocket whenever needed, as you want.
Can't wait to make your Moneyfesting of traveling around the world happen? Time to start allocating a percentage of your salary to the vacation savings account. With Jago, managing finances becomes easy and fun as you can do it the way you want.
