Jagoans, what should you do after making a budget? Of course you must stick to the budget, so that all financial goals can be achieved and finances become healthy. Well, to be able to stick to your budget, here’s what you can do.
Stick to the Budget With These 4 Ways
1. Budget must be realistic
In order for a goal to be achieved, it must be realistic. For example, someone has a goal to finish reading 15 novels in 1 month.
The above goal feels realistic if the person only spends time reading novels every day. But, if they work in the office for 8 hours a day, then the goal of reading 15 novels in 1 month is not a realistic goal.
Likewise with budget, Jagoans. One of the goals to be achieved from making a budget is to be able to save more by reducing unnecessary expenses. However, when making a budget, you have to be realistic.
For example, you set a budget of 3 times the usual for next month’s savings. You can reduce expenses by only eating instant noodles every day. This is certainly not realistic. You shouldn’t risk your health in order to save money to grow your savings fast.
2. Automate savings
When talking about saving, some people are less enthusiastic because they prefer to use money for fun. In fact, saving is important. For example, you don't need to be frantic when an emergency occurs because you already have an emergency savings.
If you have allocated a budget for savings, the next step you can do is automate savings. For example, you want to save Rp 500 thousand every month. To stick to the budget, you can automate savings so that at the beginning of each month Rp 500 thousand goes into your savings automatically.
3. Firmly say 'no'
By firmly saying 'no' when temptations come your way, you show that you are in control of your budget and money, not the other way around.
When the budget for online shopping has almost reached 0, you can be tempted to take the budget from other needs and move it to your online shopping need. But, as a Jagoan, you have to be firm and say 'no, I will until next month to shop online, I don't want my financial goals to be ruined.'
If every time you can be assertive, then surely you can stick to your budget.
4. Get yourself a budget buddy
If you can get yourself a budget buddy, that's great, Jagoans. Your budget buddy can encourage you to always stick to the budget and remind you when temptations come your way. You can do the same for your budget buddy.
This budget buddy can be anyone, but generally someone close to you, such as a spouse, family member or good friend.
Budget and Save Automatically in the Jago Application
For convenience and practicality in budgeting, you can do it in the Jago application, which is owned by Bank Jago. The Saving Pocket and Spending Pocket features allow you to separate up to 40 needs into their own Pockets.
Create a Pocket, personalize the Pocket as needed, then allocate the budget. When transacting using the Jago application, you can monitor spending in real time through transaction history and the Spend Analysis feature.
To save, you can use autosave to grow your savings automatically. In the Saving Pocket, you can also set a saving target and monitor the progress of saving at any time, which will make you more enthusiastic about saving to achieve your financial goals.
The Jago application can be downloaded here for those who don't have it yet.