Living abroad for work or study is an extraordinary experience. But apart from this unique experience, there is an important thing that you should not forget, which is the expenses of living abroad. In fact, there are a number of unexpected big expenses that can come your way while living abroad.
When Living Abroad, What Unexpected Big Expenses Need to be Taken into Account?
Everyone who will live or stay abroad for a long time, of course, will not forget to include accommodation and transportation costs as well as daily meals and various bills into the budget, if they are not borne by the company where they work or get a scholarship that covers daily living expenses. The reason? Because these expenses have become part of everyday life while still in Indonesia, so it's impossible to miss them.
But, make sure you also remember to account for these big expenses. If you have saved or prepared funds in advance, you will have peace of mind.
1. Vaccinations
A number of countries require vaccinations for their citizens and migrants who will stay temporarily. The type of vaccination depends on the country you are going to visit. You must be prepared to spend money to pay for vaccination fees. To avoid surprises, you can prepare or save money from now on. For what vaccinations are needed or required, make sure you are well informed by asking friends, relatives, or searching online sources.
2. Emergencies or unexpected occurences
Emergencies do not recognize place and time. Even if you are living abroad, the possibility of emergencies or unexpected occurences must still be taken into account. Suddenly falling sick that requires hospitalization, having an accident, being hit by a disaster are examples of emergencies. The costs that must be incurred may be more expensive than in Indonesia. Always prepared by having an emergency fund savings is the best thing to do.
3. Health insurance
Many people forget about health insurance when living abroad. In fact, health insurance will be very helpful when needed. Even though you already have emergency fund savings, it's a good idea to also have health insurance to minimize your own spending. Health insurance and emergency savings can actually complement each other. When what happens is not covered by health insurance, you can immediately use your emergency fund savings.
4. Traveling
It's really a shame when you live abroad but don't go anywhere. When you have free time on weekends, for example, you can take a walk to visit various tourist attractions. Especially if there is a holiday for a few weeks, there are more places you can travel to. The cost of traveling is arguably not small. From snacking to transportation, accommodations to souvenirs, you can start allocating money for traveling so you can explore many destinations.
Keep Your Emergency Funds in Bank Jago’s Term Deposit
You can rely on the Term Deposit feature from Bank Jago as a place to save your emergency funds for various reasons.
1. Jago Term Deposit offers instant withdrawal
When money has been saved in a Term Deposit and you need to cash it out in an emergency, there's no need to panic. You can withdraw directly through the Jago application in seconds. The emergency funds in the Term Deposit will immediately be disbursed into the Main Pocket. Don't forget to link your Main Pocket to a Jago Visa Debit Card so you can directly transact or make payments overseas in a non-cash and hassle-free manner.
2. Jago Term Deposit frees you from penalties
What about early deposit withdrawal penalties? The Jago Term Deposit is free of penalty fees even if it is withdrawn prematurely or not at maturity. So, in times of urgency, you can focus on dealing with the emergency. No need to think about penalties or the hassle of withdrawing your deposit.
How to Open a Term Deposit in Bank Jago?
Bank Jago's Term Deposit feature offers a flexible and easily accessible savings solution directly through the Jago application. It's perfect for those who want to manage their finances disciplinedly and save emergency funds without the hassle of visiting a bank branch.
You can open a term deposit with Bank Jago with a minimum of Rp1,000,000 and choose a period of 1, 3, 6, or 12 months. Opening one is very simple: just open the Jago application, on the main Pocket page, tap Add Pocket, select Term Deposit Pocket, set your desired amount and duration, and then follow the remaining instructions until the confirmation is complete.
Money Savings for Big Expenses When Living Abroad in the Jago Pocket
If the emergency funds have been secured in the Jago Term Deposit, what about other expenses? Likewise, you need to start saving or setting aside money. But, not in the Jago Term Deposit. You can take advantage of another Jago feature, namely the Jago Pocket.
With the Jago Pocket, you can have lots of savings, each having its own account number. The trick is to create Saving Pockets. Do you want to create 2, 5, 7 Saving Pockets or even more so that the funds for each need don't mix? Do it easily and quickly with Jago. Even though later you live abroad, there is no problem if your savings are in Bank Jago. As long as there is an internet connection, you can access the Jago application from anywhere.
For example, when you live abroad you need vaccinations. The money in the Saving Pocket is ready to be used. All you have to do is change your Saving Pocket to a Spending Pocket or transfer the required amount of money to your Main Pocket if it is your Main Pocket that is linked to the Jago Visa Debit Card. Very practical and easy.
By saving for various unexpected big expenses, living abroad would be much easier and more comfortable.
