Nowadays, there are many fintech apps or digital banks that make savings easy and still give a high-interest rate.
Below is how to save more money fast in Nigeria with these Apps:
1. Open an Online Savings Account
There are many legit savings apps that give a high-interest rate. Such include Branch App, Reaprite, Piggyvest and Kuda Bank. When you create an account on these platforms and get verified, you can start to save instantly.
2. Have a Goal
It is important to have a goal when you want to save. Have an amount you want to reach, say within a year or 6 months. Next, be determined to achieve it. The good thing about setting a goal is that you may even surpass it. And just being close to reaching your goal amount is also a feat.
3. Use Automatic Feature to Save
The automatic saving feature is very useful for salary earners or those with regular income. For example, you can set it to daily, weekly or monthly, when you do it, it will auto-debit your bank account and credit your savings account without stress. Most of these apps have this feature to save money fast.
4. Save Anytime
When you want to save more money fast, apart from the auto-debit, you also need to save anytime you have the money. Even though you set a recurring debit, say every Sunday, if you have enough cash on Tuesday, save it. By saving anytime you have excess, you can exceed your target before time.
5. Use Discount Apps to Save Money
Another way to save money is by cutting down your cost. This is important. Some apps in Nigeria do offer discounts on airtime, data, electricity, Cable subscription and shopping. Such as Jumia Pay, Branch App, Chipper Cash and Enlumi. For instance, Jumia Pay gives discounts of up to 20% on selected bills in some cases. Also, Branch App offers a consistent 5% bonus on airtime, data and bill payments. By using these apps, you can save a lot of money in the area of payments.
6. Spend less
Lastly, to save more money and reach your goal, you have to spend less. This is a common-sense approach. Some expenses are wants and not needs. For instance, expenses like times you eat outside, buy recharge cards and watch movies can be reduced and put into savings. This can be difficult at first, but you get better as you practice it
Some Savings Apps to Save More Money Fast in Nigeria
- Branch App
- Piggyvest
- Reaprite
- PennyTree App
- Kuda Bank
- VFD
- Sparkle
You can also read more about how to save money fast and easy here
Trying to save money in Nigeria can be futile especially when your expenses seem to exceed your income. However, it is possible when you are determined.
One sure way to save more money fast is by using savings Apps available online. These apps are mostly fintech apps or digital banks.
With these Apps, you can start saving or investing right now and anytime. Interestingly, you get a high interest which Physical banks can not give.
