How to save with the Djamo vault

You’ve probably told yourself one of these excuses every time you tried to save: “you only live once”, “what’s in my pocket is mine”. Saving isn’t always an easy decision. Between personal expenses, family expenses, and leisure, putting money aside is hard.

But no matter the excuses, sometimes you really need a backup fund for future or immediate plans. To help you save effortlessly, we launched the vault.

Stick with us - we’ll share a few tips to get you there 😊

How to create a vault

• To create a vault, open the Djamo app
• Swipe left and you’ll see the vault option
• Then tap “Create a new vault”

Set a goal and a target date

To save smarter, set a goal and a target date. In the app, you can do this in one tap. Pick your own goal or choose from the preset ones (school, holidays, travel, etc.) and once you’ve chosen, simply set the date that works for you.

How to fund it

You have plenty of options to fund your vault. Deposit money directly from your main account, or pick one of the automatic deposit options. More details below.

Spare change

Spare change is one of the automatic deposit features linked to your vault. It rounds up the leftover change after a payment. That spare change goes straight into your vault, so you don’t feel the strain of saving.

How does it work?

When you create your vault, you turn on the spare change option. Pick a multiplier (2x, 3x, 4x, 5x or 10x) so you can save faster. Example: you pay 1,650 F. The next hundred up is 1,700 F, so a 50 F transfer (the difference between 1,700 and 1,650) moves from your main account into your vault.

Recurring transfers

When you turn on recurring transfers, you can customize the frequency and amount you want transferred. Once it’s set up, the amount moves automatically from your main account to your vault based on the rules you defined.

Example: I want a recurring transfer of 500 F every Monday into my vault.

7 tips to save quickly

1. Learn to manage your budget and understand your finances

To save money quickly, you need to learn how to manage your budget. If you control your budget, you control your finances. That’s how you become financially independent and hit your short- and long-term goals.

2. Pay off your debts

To save without stress, start from a clean slate so you can see your finances clearly. Pay off your debts so you can focus fully on your savings goals.

3. Open a vault

The best way to hit your financial goals is to create a vault in the app. The vault helps you track your savings, set goals and deadlines, and get free reminders so you actually reach those goals.

4. Automate your savings

To reach your goals faster, automate your savings every month. With the vault, you can turn on “recurring transfer” and “spare change”. With these features, you save without thinking about it.

5. Cancel subscriptions you no longer use

We sometimes sign up for platforms with our Djamo card, or buy apps. But we don’t use all of them - so to save smarter, cancel the subscriptions you don’t use.

6. Cut your expenses and bills

If you set a budget for each category of spending, you’ll have a clearer view of your finances and can cut what’s unnecessary. And if you’re a generous soul, you can still give - just set a monthly donation budget.

7. Take on a side activity

If you want to seriously grow your monthly savings, find a side activity. Monetize a passion, or pick up something else that brings money in 😊

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