The average Nigerian’s income relative to his expenses isn’t a lot, and based on that, saving might not be a priority for most people.
However, this is a new year, and you probably already have your new year resolutions set.
One of them should be to make more financially responsible decisions this year. It doesn’t matter if you weren’t fiscally responsible enough last year, this year can be much better for you if you just start now.
Set a financial goal and decide how you’re going to achieve it by saving.
It’s important to develop a savings culture, because your savings will give you a soft landing when life throws you a few curveballs.
Set funds aside, consistently and regularly. There’s no time like the present to start.
How To Start Saving
- Decide on an end goal
Are you saving to be able to afford a particular thing like a car or a dream wedding, or is it a fiscal goal you are aiming for?
Having a goal makes you more committed to the saving process.
- Decide how frequently you want to save
This depends on your earning structure. Salary earners could choose to save monthly, and business owners could choose to save daily, weekly or monthly. The frequency has to be something that will be easy for you to stick to.
- Calculate how much you want to save
The amount you save monthly should be substantial enough that it adds up, but still reasonable enough relative to your earnings that you won’t have trouble letting go of it every month.
- Decide on a savings platform
You can choose to save in a makeshift piggybank at home, “ajo” contributions, a savings account in your bank, or fund management solutions like the Rosabon Earning Plan (REAP) which rewards you substantially for developing a savings culture.
REAP offers you up to 12.50% compounded interest on all funds placed, and is a flexible, secure way to save towards a goal or set funds aside for a rainy day.
What are you waiting for? Call +2348150880039, or email [email protected] to start securing your future today. We also have a whatsapp channel open for enquiries. Chat us up at +2348150880038