Anticipating New Disease Outbreaks: How to Prepare Yourself Financially

3 August 2022

Anticipating New Disease Outbreaks: How to Prepare Yourself Financially

As you know, the COVID-19 pandemic is not over, but a number of new disease outbreaks that are quite disturbing, such as monkeypox and mysterious acute hepatitis, have emerged. Monkeypox, for example, has recently been declared by the WHO as a global health emergency. Being financially ready is one of the steps to anticipating various diseases. What needs to be done?

Anticipating New Disease Outbreaks, How to be One Step Better at Being Financially Prepared

1. Take a concrete action by starting to save

Some of you might think that you are not likely to contract an infectious disease. While it may be true, you need to think about the other scenario. What if it does happen? It's better to be prepared than not at all. Imagine when you are sick and you still have to think about how to pay for your recovery.

For that, the first step that can be done is to start saving. You can call this savings an emergency savings or a health savings, depending on you. While an emergency savings can also be used for other emergencies, a health savings has a clear function, which is to help you deal with problems related to health.

Saving practically can be enjoyed when using the Jago application. You can have up to 20 savings accounts with their respective account numbers at Jago. All you have to do is create a number of Saving Pockets. This way, you are free from paying monthly admin fees and the hassle of monitoring your savings because you save here and there.

2. Save consistently

Furthermore, to ensure that your health savings is sufficient to cover your medical expenses in case of illness, there is no other way than to save consistently. In order to do that, you need to set aside money through budgeting. Set aside money for health savings at the beginning so you don't use it for other needs.

Of course, budgeting can be done practically using the Jago Pocket. Other than the Saving Pockets, you can also create Spending Pockets to manage various monthly expenses. Move money from the Pocket that is your main source of funds to the Pockets that you have created, including the Saving Pocket for health. It's that easy.

If you want it to be hassle-free, you can activate the Autosave feature that is available in every Saving Pocket. Once the feature is active, it's no longer you who transfers money to the Saving Pocket. Jago does it for you.

3. Maximize savings

Having maximum savings is certainly very helpful in times of emergency, such as an illness that must be treated immediately. In addition to saving money in the Saving Pocket, you can maximize your savings by investing in mutual funds. The easy and fast redemption process is one of the main considerations when choosing a mutual fund investment. If at any time you need funds, you can immediately redeem your mutual fund investment.

Today, Investing in mutual funds is no longer complicated, Jagoans. Jago has collaborated with Bibit to create a digital ecosystem that makes it easier for you to build your savings. By linking your Jago Pocket to your Bibit account, you can invest in mutual funds faster because you don't need to switch applications and can get instant top up notifications.

4. Minimize various expenses

If you haven't had health savings and are now starting to build your health fund, this means you have to make adjustments to your expenses.

Because health savings is an important type of savings that requires quite a lot of money, there are expenses that you need to start reducing. You can start minimizing non-priority expenses.

For example, if every month you always go on vacation to the same destination, you can reduce the frequency to once every 3 months. Money that is not used for vacations can be put into health savings. Likewise, expenses that fall into the entertainment, self-indulgence and similar categories.

With Jago, you can be one step better at being financially prepared to anticipate disease outbreaks, both those that have emerged and those that have not, by implementing the four strategies above.

In addition to being financially ready, you should always take care of your health, for example by exercising regularly and maintaining nutritional intake.

The Jago application can be downloaded here for those who don't have it yet.

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