Do you make use of apps to save money? I have come across this sentence on numerous occasions “Save For Rainy Days “, so I decided to put it into practice. Well, it ended before I started.
Why? Because the money they say is just like a ” Spirit”, it comes and goes. If you are not careful enough, you won’t be able to give an account of it.
Personally, I don’t like saving in banks. Mind you, I don’t mean saving in banks is wrong but at the end of the day, Instead of the money I left there to increase, it ends up decreasing.
They keep reducing money. It’s either alert charges today, ATM maintenance fee tomorrow, etc. I might just shrug my shoulders and say, it’s just a little sum of money but, that little money deducted has decreased the original sum of cash there.
After all, was said and done, I decided to try the traditional method which is saving in “Kolo”
Kolo is made with plywood. It also comes in different shapes and sizes such as: square, rectangle, cylinder, etc. With a little hole at the top to allow you to squeeze in money.
Some also come with a lock.
Now back to our discussion, I bought a kolo from the market and I started saving money.
But guess what! This did not last for long as I was in need of money. That brought about the end of my Kolo saving.
Although there are people that still do it and it works for them, it is not advisable to keep money at home, especially a huge sum of money.
I went back to square one in saving until I was introduced to some apps online that could assist me in saving.
And oops!!! I guess you might think I started saving immediately but nope! I didn’t. Issues from nowhere aroused such as:
- My Budget is tight! How much will I be able to save?
- If I don’t have up to a thousand naira, I am not saving
- What if these apps elope with my money?
- As a student, how much will I be able to squeeze out of my monthly stipend?
That is when this saying came into the picture “Every Penny Counts”. No matter how tight your budget is, you have to set aside some money to save. You don’t need to have a thousand naira to start saving as most of these apps allow you to save with as low as #200.
These apps are registered under SEC and Meristem Trustee Limited. They are also registered with the Corporate Affairs Commission (CAC).
and so, the issue of them eloping with your money is eliminated.
Why not start with this first and as time goes on you increase the amount and trust me, you will be amazed at the amount you were able to save from that little penny at the end of the day.
Most of these apps have a safe lock. That is, you can lock the money as well as set a time frame for it which could be, a month, 3 months, 6 months, or even one year.
You are even paid interest for the money they help you to save guard!!! Isn’t it amazing?
The most interesting part of this is that you can connect it to your bank account and turn on the autosave option in the app. This allows money to be transferred automatically into the app at set time. The issue of you worrying about not remembering to save is eliminated.
How To Save
You don’t just save because others are doing it. If you have this mindset, believe me, you will get tired.
The best way to go about it is to have a target. These targets might be:
- To buy a car
- To buy an apartment
- To pay school fees
- Or to save for one’s future etc.
Without further ado, let’s dive into these apps that will assist you in meeting your target
Cowrywise is one of the best saving apps to save money. It was launched in 2017. With as low as #100, you can start saving in Cowrywise.
To access this app, you can download it from either Google Playstore or Apple Store. You can also visit the Cowrywise website by using your web browser such as Chrome etc.
Immediately you fund your wallet with cash, you will be eligible to start earning interest. This means that within 24hrs, you will receive tour first interest.
You will get a cash bonus when you sign up with my invite link https://get.cowrywise.com/r/SamueUGw or use referral code SAMUEUGW
Kuda is another amazing online saving app that is very flexible and easy to use. You can save money with Kuda and go to bed with youVestpay
closed as it accumulates interest for you.
Kuda also offers an amazing option which is the Spend+Save Tool. This enables you to save money anytime you spend on something.
Like other saving apps, you can lock up the money on a fixed saving plan.
Vestpay is a fintech platform that allows you to save and invest online. They offer an interest rate of 15% per annum.
There are many saving plans available such as Regular. Saving target, Vest banking, etc.
To get started with Vestpay, download the app and follow the instructions provided to sign up. You can then fund your account, select the amount you want to save with the time frame. Its no doubt that vestpay is one of the best apps to save money.
This online saving app is more recent and offers two ways to save money. They have easy save and autosave. As the name implies. Easy save allows you to save day by day while the autosave allows you to save automatically from your bank account. This also depends on the time frame you set. It can be daily, weekly, or monthly.
Kolopay offers an interest rate of 10%. To start saving with the app, download or use your web browser to visit their site. Signup and create an account with them with a saving goal.
5) Sumo Trust
Sumo Trust which was formerly known as Sumobank is an amazing app for saving money online.
They allow you to save both manually and automatically without much stress. They also offer an interest rate of 10% – 15% per annum.
With SumoTrust you can save as well as invest, and its one of the apps to save money.
Thanks to these apps, saving money has become a lot easier. Most of these apps offer enticing interest rates. Just opt-in for anyone of your choice and watch that money multiply.