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52 Weeks Saving Challenge: Why You Need To Start Saving Now

BY Soko Directory Team · January 3, 2020 08:01 am

Do you save? Where and how should be my next question, hopefully, your savings are safe and if you don’t then you have been missing on the secret of sliding through a year magically.

10,20,30,100 or even 1000 shillings may not seem much to you depending on your financial situation but saving today’s less important to you 100 or 1000 shillings could get you to hundreds of thousands at the end of the year if you SAVED IT.

Well, as January comes with its proverbial 60 days, there are those who will not feel the heat or the exaggerated days as they will be opening their savings of 52 weeks of 2019, the sheer excitement that comes with it, it is rewarding.

The value of 50,000 shillings in December tends to raise in January as the money becomes scarce in people’s pockets making it rare to spend, coming January ought to not be you if you join the 52 weeks saving challenge.

READ: M-Shwari Churns Out Ksh 430.5 Billion to Kenyans 7 years after Inception

The 52 weeks saving is a culture that is slowly making its roots even in households enabling parents to create and nurture a saving culture in their children and minimize wastage by training them to pick on priorities when spending.

Where Do People Save When on the 52 weeks saving challenge

Hilariously, there are people that still save under their mattresses and containers in the houses with denominations of up to 1000 shillings despite all the risks involved from the house catching to inhouse stealing.

Though the convenience of stashing away cash into containers, cushions or mattresses in the house is overwhelming, there is no security at all and what exactly is the need of saving if you cannot be assured of the safety of your money?

If you have a safe, then that is better that containers and mattresses, ensure your PIN is a Top-Notch Secret with a combination that can not be imagined by anyone.

Savings plan for low-income earners

Saving With M-Shwari’s Lock Savings

Personally, M-Shwari Lock savings do the trick for me, M-Pesa shops are readily available across the country which makes it easy to deposit and received cash can easily be sent to the lock savings account.

M-Shwari Lock Savings is easy to comprehend given that it is integrated to M-Pesa and is a savior for especially those who get into spending moods as soon as money is sent to their M-Pesa.

Savings plan for high-income earners

Wherever it is that you will kickstart your savings, as long as your money is safe, save and build a saving culture no matter how little as it is the only way to eradicate poverty.

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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