The concept of wealth changes throughout our lives. What we value as children differs significantly from what we consider valuable as adults. This shift reflects not only changing preferences but also evolving values and priorities.
Children Perceive Wealth in Simple and Tangible Terms
Think back to your childhood. What did you consider being wealthy as a child? Was it having new toys like dolls and cars, a complete sticker collection, or perhaps a house like a fairy tale palace? Maybe it was simply being able to buy snacks every day at the school cafeteria. For a child, wealth is often measured by tangible and visible things. A child's world centers around pleasure and instant gratification, so objects that provide immediate happiness are often seen as symbols of wealth.
Adults Have a More Nuanced Understanding of Wealth, Seeing It as a Multifaceted and Intricate Concept
As we grow up, our perspectives on wealth evolve. While children may associate wealth with tangible possessions like toys and treats, adults often adopt a more nuanced viewpoint that encompasses both material and non-material aspects. Financial stability, security, and the freedom to make choices are paramount. Consequently, adults prioritize long-term financial planning, including saving and investing, to achieve their financial goals.
The transition to adulthood is also marked by a shift in values and priorities, where personal growth, potential, and meaningful relationships take precedence. This shift in perspective exemplifies the concept of non-material wealth.
How to Be Jago at Managing Money to Achieve Wealth in Adulthood
Attaining true wealth as an adult necessitates financial planning and discipline, and therefore is achievable.
1. Do budgeting
Keep track of your income and expenses by creating a realistic budget. Find areas where you can reduce spending and allocate money towards savings and investments.
Budgeting made easy with the Jago application
The Jago application offers a simple and effective budgeting solution. Its Saving and Spending Pockets feature allows you to allocate funds for various purposes, such as daily expenses, monthly bills, savings goals, or vacations. This helps provide a clear overview of your finances and helps prevent overspending.
Additionally, the application's Spend Analysis feature automatically tracks and categorizes your transactions, offering insights into your spending patterns through graphs and reports. This information enables you to identify areas for potential savings and adjust your budget accordingly.
2. Save consistently
Automate the process if you can, but be sure to save a portion of your monthly income.
Save automatically to your Jago/Jago Syariah Pockets
The Jago application's automatic budgeting feature makes saving regularly easy by enabling you to schedule consistent transfers to various Saving Pockets, designated for specific financial goals.
You can customize the frequency of these transfers (daily, weekly, or monthly) as well as the amount, ensuring alignment with your financial goals and capabilities. This automation not only instills a consistent saving habit but also eliminates the risk of forgetting. The feature's flexibility also allows for adjustments to transfer amounts and frequency, accommodating changes in your financial circumstances.
3. Invest more
Begin investing early to build long-term wealth through various investment opportunities.
Invest in Jago Term Deposit/Sharia Deposit and ecosystem to enjoy ease and practicality
Jago offers both conventional and sharia deposit investments, both providing convenience and security for those seeking low-risk investment options. The Jago application allows you to easily open deposits quickly and conveniently without visiting a branch, and offers various deposit terms to suit your needs and financial goals.
The Sharia Deposit from Jago Syariah specifically offers an investment option that adheres to sharia principles, using Mudharabah Muthlaqah akad. The Deposit Pocket feature for both conventional Jago and Jago Syariah users in the Jago application allows you to separate deposit funds from other funds for better financial management.
Learn how Jago Syariah is different from Jago in this article.
Additionally, Bank Jago and Jago Syariah’s ecosystems integrate with various digital investment services, such as Bibit and Stockbit, providing easy access and flexibility in managing investments, allowing users to monitor their investments all from one application. This integrated ecosystem makes investing in mutual funds and stocks a convenient and efficient choice if you look to grow your wealth safely.
A Journey Towards Meaningful Wealth as an Adult
Achieving financial stability and a fulfilling life can be attained through prudent financial management and a focus on long-term goals. The Jago application can assist you in aligning your money management with your personal values and aspirations.
