Building your savings culture – how to save money daily and weekly

For financial security, saving can serve as an emergency cushion for unexpected occurrences such as sudden loss of income, unpredictable health expenses, family emergencies, and many other reasons. There are times when saving money might appear impossible, even absurd, especially when what one has is not enough to sustain a lifestyle, but a person who doesn’t save will continue to be exposed to risks and worries.

Why? Because emergencies do happen that cannot be avoided. However, what matters is, wherever you are on your financial trajectory, you need to know that it’s possible for anyone to turn their financial life around and start saving money.

Many might think that savings can only achieved when there’s extra cash ‘lying around’. It’s normal to lay awake at night, thinking about how to easily satisfy a need or demand. Rent? A car? Tuition? An expensive dress? Saving requires planning, and a strategy that has to be implemented in a disciplined way. Building a savings culture is a habit that should be tied to every single decision and action. It is easily achieved when you have the much-needed support.

There’s nothing wrong with saving in your regular savings box, but how soon do you think about rolling off your bed, opening your wardrobe, smashing it to pieces and holding your money to your chest in relief? It’s fine. Rather than break your kolo every other weekend, why not just save daily or weekly with ALAT by Wema Bank, the ‘digital kolo’ you never knew you needed.

As already admitted, saving is a struggle. But it becomes easier when you don’t have to decide everything by yourself. When a savings goal has been set, it doesn’t just give you a sense of purpose; it also helps to keep you motivated. With ALAT Goals, you can choose your saving frequency, thereby making saving as easy as spending.

In a bid to help you better manage your money, ALAT also helps you withdraw a certain percentage of your income at a set time (daily or weekly) and adds it to your goal account.

Budgeting is also a very useful skill to help you save better. Dividing your earnings and planning what each part is for also helps you be disciplined in your spending. Whether you’re setting up a budget, saving for that special item or just looking for a rewarding investment plan, ALAT Goals has got you covered. You can create as many goals as you need. ALAT handles the rest, you also make some money in the process.

The app helps you achieve your set goals, and even gain 10% interest when your goal is achieved.  For example, if you intend to save for 12 months, you’ll get paid 10% when you meet that goal – call that your reward for being truly disciplined. And what happens if you stop saving before you meet your goal? You still get your reward, since your interest will be calculated based on how long you saved.

Saving money is always worth the effort. It gives you peace of mind; it gives you options to explore, and the more you save, the easier it becomes to accumulate additional savings. So go download the ALAT app, and click the Goals option on the menu to grow your money. Click here to join.

 

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