Forming a harmonious and happy marriage bond is the dream of every couple who loves each other. Therefore, some people do not hesitate to spend a lot of money to get married.
According to an iPrice survey (2001), the average cost of a wedding in Indonesia is Rp191,650,000. Of course this is not a small amount of money, and considering also that there are many details in it, such as the cost of renting a building, invitations, catering, souvenirs, wedding dresses, wedding rings, etc.
But there are important things to remember about marriage. Apart from the cost of the wedding, a lot of money needs to be prepared for various unexpected big expenses that actually come after marriage.
After Marriage, What Should You and Your Spouse Prepare (Save) Money for?
If we talk about household expenses, the list will be very long. This article discusses the most important unexpected big expenses that every couple needs to prepare for, especially in the early years of marriage.
1. Family emergency fund savings
Emergency fund savings are important for everyone, as well as every family. By having emergency money, it's easier for you to face various urgent situations, such as medical emergencies, cars that break down and loss of your main source of income.
Financial planners suggest that if you have a family, it is best to have an emergency fund of at least 6 times the average monthly living expenses. Huge amount isn't it?
2. House and related costs
It's natural for every couple who starts their life together to want to have a place they can call home. Not to mention if later a baby will complete your small family. Therefore, the cost of buying a house must be prepared.
Not only saving money for DP and paying off installments, it would be nice if you and your spouse could also start setting aside money for unexpected big expenses when you have a house for the first time. If totaled, the amount will be large.
3. Travel or entertainment expenses
Newly married couples certainly want to spend as much time together as possible. One of the interesting activities to choose from is traveling. After your honeymoon, you might plan short weekend getaways at home and also longer vacations abroad. It should also be considered that after marriage, you and your partner may be expected to visit immediate family members from time to time.
There are also couples who prefer to spend time together enjoying various entertainments, which may be as simple as going to the mall and watching movies. Even so, there is still money that needs to be allocated whether for traveling or entertainment.
Maybe you didn't spend too much money on traveling or entertainment. But now in order to create lots of beautiful memories with your beloved spouse, you need to spend more money.
Related article: Unexpected Big Expenses When Having a Child for the First Time
Saving Funds for Expenses After Marriage in Deposits
To protect savings from being used for unintended purposes, one of the best solutions is to save money in deposits. A family emergency fund, for example, can be saved in a term or time deposit to ensure it is only used in urgent situations.
You don't need to worry about the long disbursement process or the obligation to come to the bank when you want to withdraw a deposit to deal with an emergency. There is also no need to worry about having to pay a penalty if the deposit is disbursed prematurely.
Saving in a Jago Term Deposit, your funds will go directly to the Main Pocket in the Jago application as soon as the Deposit is withdrawn. In just a matter of seconds you can immediately use the money.
Saving in a Jago Term Deposit, you don't need to think about early withdrawal fines either because you can withdraw your deposit at any time without penalty.
Not only for saving emergency funds, you can also use the Jago Term Deposit for long-term goals such as gradually starting to build your child's education funds and preparing for retirement savings.
All Household Expenses Can Be Managed Using the Jago Pocket
For other big expenses, you can easily and practically manage your finances with the Jago Pocket. There are Saving Pockets and Spending Pockets to choose from. You can also save and manage household expenses together in the Shared Pocket.
1. Create Saving Pockets for needs that require you some time to save money
What are the needs that need you to save money first? For example, the land and building tax that must be paid every year, you can save the money first in a Saving Pocket. You can create 20 Saving Pockets, which is the same as having 20 Bank Jago accounts in the Jago application.
2. Create Spending Pockets for daily and monthly expenses
What are your household expenses? Even if you have to save up for entertainment activities or traveling, it is best to create a Spending Pocket if you're going to do it every week or every month.
From the Spending Pocket you can immediately make transactions or payments for hotel bookings, buying snacks, shopping, watching movies at the cinema, etc. The Spending Pocket can be a source of funds for QRIS Jago and Jago Visa Debit Card. Just like the Saving Pockets, you can have 20 Spending Pockets, which means an additional 20 accounts.
3. Create Shared Pockets as joint accounts for husband and wife
For spouses who want to learn to manage household finances together, you can create a joint account in the form of a Shared Pocket.
After creating a Pocket, all you have to do is invite your partner to join. After that, the Shared Pocket will appear and can be accessed from the Jago application on your spouse's cell phone. Depending on the role assigned, you and your spouse can both use the money in the Shared Pocket or only one can. Every member can view the transaction history of the Shared Pocket to maintain transparency.
Now you know there are unexpected expenses that arise after marriage. Do you still want to spend a lot of money on a wedding or do you prefer to reduce wedding costs so that the money can be saved for all the unexpected big expenses?
Whatever your choice, the Jago application is there to help you and your spouse every step of the way in managing finances before and after marriage.
