Jagoans, being honest with yourself about money is very important. Otherwise, your financial health is at stake. Read on to find out whether you’ve been telling yourself some money lies.
Money Lies You May be Telling Yourself
1. My spending is completely under control
If your spending is completely under control, then you have peace of mind. You will not feel financially anxious because you must have money in savings or always set aside some money for savings.
However, if you often don't have money to save because you have used it to buy things or frequently dip into your savings, then this is a sign that your spending is not fully under your control.
If it happens, then you can start controlling your spending by budgeting and being disciplined in sticking to the budget.
Hassle-free budgeting can be done in the Jago application. The Spending Pocket and Saving Pocket features can be used to manage and separate various necessities, such as paying monthly bills, buying household needs and saving money.
2. I will start saving tomorrow
Do any of you often say that? The intention to save is there but the implementation is always delayed. First it’s tomorrow. Then tomorrow becomes next week, next month and in the end saving is never realized.
Saving needs to be realized to secure the present as well as the future. It’s best to prioritize emergency savings and retirement savings. We cannot predict when we will experience something unexpected. It would be nice to be prepared and always set aside money for emergency savings.
The same goes for retirement savings. We are busy working and feel that retirement is still a long way to go. Year after year goes by unnoticed and by the time it is time to retire, your retirement savings is not ready.
To prevent such things, you need to push yourself to consistently set aside money for savings. With Jago, saving is practical because you don't have to take the time to make sure your savings are filled with money.
You can take advantage of the Autosave feature in each of your Saving Pockets. On the date you specify, Jago will transfer the amount of money you want to your Saving Pocket. You just watch the savings continue to grow over time. Cool right?
3. There's nothing wrong with enjoying my hard-earned money
I've worked hard and I deserve to reward myself. Yes, Jagoans, there's nothing wrong with enjoying the money you work hard for.
But, what happens to many people is that they often use the excuse to spend money on lots of things that they don't really need or enjoy only temporarily.
To still be able to enjoy your hard-earned money, there are ways. You can read the article 3 Secrets to Splurging.
4. I don't have enough money to buy it, but I will just buy it anyway
This one is often experienced by shopaholics or those who have FOMO. Even though they don’t have enough money, they buy whatever they want anyway. But, because there’s not enough money, they may end up in having debts.
To prevent it, there are several things that can be done. You can avoid using a credit card for shopping. It's better to use a debit card so you don't spend more than the money you have.
By using the Jago Visa Debit Card, you can control your spending. This is because you can set a transaction limit on your debit card, after linking it to one of the Spending Pockets. You can also read the article How to Overcome FOMO to Maintain Financial Health to find out other ways you can apply.
Jagoans, it's time to be honest about money with yourself and become one step better at managing finances in order to maintain financial health. Download the Jago application here (for those who don't have it yet) for easy and practical money management.