Do You Have a Healthy Relationship With Money?

11 July 2022

Is Your Relationship With Money Healthy?

Jagoans, it turns out that healthy relationships need to be built not only with fellow human beings but also with money. We all know the importance of money. Although money is not everything, it is needed to meet various needs in life. Therefore, having a healthy relationship with money is very important.

Is Your Relationship With Money Healthy?

How do you know if you have a healthy relationship with money? Here are the signs.

1. Wouldn’t mind talking about money

People who have a healthy relationship with money will not refuse to talk about money. For example, you and your partner can talk openly about money, without being secretive.

You are in control of the money and you know exactly where the money is going. If you make a mistake regarding the use of money, for example you overspend, you can understand it because everyone can make mistakes. The most important thing is to take steps not to do it again.

Then, when there is something you don't understand about money, you don't hesitate to ask those who are more experienced.

2. Not feeling guilty when spending money

Yes, if you have a healthy relationship with money, you won't feel guilty about spending money, especially for self-indulgence.

This is because you know that you have used the money to fulfill all obligations and set aside money for savings before using it for fun stuff.

How to Have a Healthy Relationship With Money

1. Start budgeting

Through budgeting you can manage your finances and control your money better. Take the time to note down any needs that must be met. Prioritize the budget for paying monthly bills and daily necessities such as food and transportation.

Practical budgeting can be done through the Jago application. There’s no need to record anything. You just need to create Pockets. Each need can be assigned into each own Pocket. Allocating a budget is also easy because you simply move money from the Pocket that is the main source of funds to the destination Pocket.

2. Set aside money to be saved and invested

By having money in savings, you will be far from stress. Having an emergency savings, for example, can help you deal with unexpected events calmly. Meanwhile, a retirement savings ensures you live your retirement comfortably and burden-free.

The Saving Pocket in the Jago application is ready to help you manage all your saving needs. Equipped with the Set Target and Autosave features, the Saving Pocket makes it easy for you to monitor your saving progress and reach your financial goals on time.

To meet various financial goals, you can also invest some of your money. Jago's collaboration with Bibit makes it easier for you to invest in mutual funds so you can be one step closer to achieving your dreams.

By linking your Jago Pocket to your Bibit account, you are free from top up fees and the hassle of changing applications every time you want to invest. You can plan your investment every month with the Auto Top Up feature. Your investment portfolio can also be monitored directly from the Jago application.

3. Monitor spending regularly

Is there any overspending this month? Are there ways to save on expenses, such as unsubscribing to a service? These questions can only be answered when you monitor your expenses regularly.

Just like budgeting that doesn't need to be done manually, monitoring expenses can be done by viewing the transaction history that is always updated real time, as soon as you complete a transaction through Jago.

You can also evaluate expenses through the Spend Analysis feature. The feature can group expenses by category. So it's clear how much you spend on topping up your e-Wallet, eating out and watching movies at the cinema, for example.

Let's build and maintain a healthy relationship with money. The Jago application can be downloaded here if you don't have it yet.

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