Solo living is fun because it gives you complete freedom to do whatever you like. When you wake up and want to go to the bathroom, you can go straight in, no need to queue. When you come home from work at night, you want to watch your favorite film on TV, no need to fight over it. You also don't need to worry that someone will be disturbed by the sound of your snoring while you sleep. These are all examples of the benefits of living a solo lifestyle.
But, at the same time, it turns out that there are several big expenses that you have to prepare for when choosing to live alone.
When Living Alone, What Unexpected Expenses Should be Taken into Account?
It turns out that there are quite a few big expenses that need to be prepared for in order to be able to live a solo lifestyle comfortably and without worry.
1. Socialization costs
For those who choose to have a partner, being able to go to a restaurant or watch the cinema, maybe just in each other’s company, is enough. But what about those who live a solo lifestyle?
After all, humans are social creatures. Even though you choose to live the solo lifestyle, it doesn't mean you don't need to socialize. In fact, your chances of spending time with friends are higher.
When you meet friends you usually spend money on food and drink, entertainment, etc. It depends on what activities you want to do to spend time with friends.
2. Bills and rents
If you don't have your own place, chances are you are still renting a house or apartment. In general, rental or apartment fees are calculated per property, not per person. So, if you decide to live alone, then you alone will bear the rents. You cannot share rental costs with other people.
Likewise with bills such as electricity, water, internet and various others. You have to bear everything and pay for them yourself. However, unlike rental costs, you can apply various ways to save money so that the total monthly bills you need to pay is not too large.
3. Single supplements
For those of you who prefer solo living but like traveling, you need to prepare more money when traveling. Why? Because there are single supplement costs that will be charged to you, especially for accommodation costs.
A hotel room, for example, should be able to accommodate 2 people. However, because you are the only one occupying the hotel room, you have to pay extra fees. The reason? Because the costs incurred to prepare a hotel room remain the same, regardless of the number of people staying in 1 room.
Solo Lifestyle the Way You Want: Prepare Money for Big Expenses Using the Jago Pocket
Even though all the expenses above are large, you don't need to worry if you have an umbrella ready before it rains. One of the best things you can do is budget consistently.
You can have multiple accounts at Bank Jago free of admin fees for ease of managing money and transactions
Separate funds for the expenses above using the Jago Pocket available in the Jago application. You can adjust the number of Jago Pockets you create the way you want. If you are not someone who likes traveling, then you don't need to create a Jago Pocket for traveling.
Each Jago Pocket that has been created has its own account number. This means you can have multiple accounts at Bank Jago. You can also name each Jago Pocket the way you want.
Entering the beginning of the month, it's time to pay various bills. Complete the payment immediately using the Bills Pocket. Has the time come to pay the rent for your house or apartment? Directly transfer rental fees from the Rent Pocket. You can also benefit from the Plan Ahead feature for automatic and on-time payments in the Jago application.
The Shared Pocket that makes it easier to manage money with your closest friends
For social needs, you can invite all your friends to use Jago so you can create a Shared Pocket. Using the Shared Pocket, all members who have joined will have this Pocket in their own Jago application.
In the future, managing finances with friends will be easier and more practical. Collect money for your next meeting using the Shared Pocket. Directly move money to the Shared Pocket according to the mutually agreed budget. The money is of course taken from the Bonding Pocket that you have created for regular budgeting purposes.
When money comes in or money goes out of the Shared Pocket, all members can see it because it is recorded in the transaction history. Apart from being easy and practical, managing money using a joint account in the Shared Pocket also becomes more transparent.
Emergency Funds are Very Important for Those Who Live Solo
Apart from all the unexpected big expenses mentioned above, there is one other thing that is very important for you to prepare, namely emergency fund savings.
When something unexpected happens or you experience an urgent situation, you can only rely on yourself to overcome the problem or get out of the situation. Therefore, make sure you are disciplined in allocating a budget from your income every month for emergency savings.
Build your emergency funds in Jago Term Deposit
There's no need to doubt, the Jago Term Deposit is the right place to build your emergency funds. Choose the saving period as you want. Actually, the longer the better considering that this is an emergency savings and you should protect it from inappropriate use.
However, there is no need to worry if you experience an emergency that requires immediate solving. Withdraw your deposit via the Jago application. The funds in your deposit will be disbursed right away to your Main Pocket.
What about the fine for early deposit withdrawal? For this matter, you can also rest easy because the Jago Term Deposit frees you from paying any penalties if you decide to withdraw it prematurely.
So, ready to enjoy a solo lifestyle with complete freedom? Now, you can always anticipate various big expenses with the Jago Pocket and Term Deposit.
