First Time Doing Budgeting? 4 Easy Budgeting Tips for You

3 January 2022

4 Easy Budgeting Tips for First-Timers 4 Easy Budgeting Tips for First-Timers

Budgeting is an important factor in keeping your finances healthy. If you've never budgeted before, don't worry. There is always a first time for everything. You can follow these 4 easy budgeting tips for first-timers from Jago.

4 Easy Budgeting Tips for First-Timers

1. Start with a budget for all routine expenses

So that you don't get caught up later, it's best if you have completed all your obligations first. The obligation referred to here is to complete payments for all routine expenses, such as monthly electricity, water and internet bills.

After that, you also need to set a budget for daily needs such as food and transportation. For food, it's a good idea to add a little more to your budget. This is because food prices tend to fluctuate. Plus, you probably don't eat the same food every day.

2. Set aside some money to save before using it for fun

One of the mistakes that many people make when it comes to budgeting is saving only when they have some money left each month. No money left means no saving. This is a big mistake, Jagoans!

No matter how much you earn each month, you have to set aside some money first for savings. By having sufficient savings, you can have peace of mind, especially when something unexpected happens and it requires money to deal with it. Savings also help you reach your financial goals more easily.

Also read: 4 Jenis Tabungan yang Setiap Orang Wajib Punya, Sudah Tahu?

3. Monitor budget usage daily

Because you are still a beginner in budgeting, you need to monitor your budget usage every day. This way, you can find out if any expenses didn't go as planned or if there are minor adjustments that could be made.

Later when you get used to it, you can reduce the frequency of monitoring your budget usage, from every day to once a week, for example. It all depends on you.

4. Set some financial goals

Saving without any financial goals to achieve can be boring. So, to make it fun, you can set some financial goals that you want to achieve, both in the short and long terms.

Some financial goals that can make you more enthusiastic about budgeting for savings are saving for your dream house, saving for retirement, saving for a vacation and saving for your dream wedding.

Use the Jago Application to Make Budgeting Easier

Now you know 4 easy budgeting tips for beginners. But, how to start budgeting? The Jago application is ready to help.

Through the Pocket feature, you can create up to 20 Saving Pockets and 20 Spending Pockets to separate various needs.

You can name each Pocket as you wish to make it easier to remember and monitor later. Afterwards, you can start budgeting for each Pocket. Transactions in the Pockets will always be recorded. So, it's easier to know how much budget you have left and what you use your money for.

If you already have a Jago account, you can just take advantage of the available Pockets feature. There are many other features that you can also use to help you become jago at managing finances.

For those who don't have a Jago account yet, you can download the Jago application first and then complete the account registration process that doesn’t take long.

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Start living life to the fullest with your family and friends.

Download Jago App, select either Jago or Jago Syariah and proceed to complete your registration on your phone.

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Scan this QR code with your smartphone’s camera to download now.