Yes please, take your money away from that so-called bank savings account because it is not a savings account. OK, so what do i mean? Today, many of us have savings account in the bank but in reality it is our SPENDING account. It is connected to everything that makes you spend – ATM, USSD, Mobile banking, Internet banking etc… no wonder we are all lacking in our savings culture.
Some people are still good at savings but stats show that people who think they don’t have enough don’t save for the future, they only save for the immediate things rent, car, fees and so on and life somehow passes very fast in the search for the big job to then start saving or planning for the retirement life. Interestingly, the pension fund came to help retirement but it is observed that a number of people still take so much and leave little to pension which doesn’t amount to much eventually – My Question, can you take it upon yourself to save extra same as your pension or double your pension towards a future investment?
You will argue “what happens” to those without jobs nor pension savings? The more reason why this article is written, it is time to start the culture of real savings into a fund that can invest and give you compounded interest over a good number of years to position you into the future.
Don’t be deceived by the name savings account, if you really are not saving inside it then it is your spending account, If it is not giving you good interest on your balance, it is not a savings account, If it doesn’t help you plan for tomorrow, it is not a savings account – why keep your money inside? Take it out now.
So where to? i believe you understand that what i call savings here is that money that you plan on having to make you financially FREE, thus we are not talking about money for rent, food, bills, school fees, etc. Any financial book will tell you to live within your means to achieve those basic survival bills. To be financially free even with little funds, you need to be intentional about that savings.
Do you know that N500 daily with a 10% compound interest rate will amount to over N1.2M in almost 5 years. What if you get more than a 10% returns? What if you increase the savings? Meaning – being a millionaire is only less than a 5 years goal with just 500 daily – DARE TO TRY?
It all begins with real small savings that can amount to something. Those real things that you desire like a family home, starting a business, being financially free will not achieve themselves, interestingly, hardwork can only take you as far as it can too, a good financial education does the final trick. Savings plus investing the right way puts you on the path of a wealthy future.
Don’t over think it, start real savings today. With kernelvest, we allow you save as little as N100 daily/weekly and over time you will see how easy savings can be and i believe you will want to do better ‘cos your future awaits.
Someone said “If you are really ready for your hustle, anything is possible“, If you really want to start saving towards your future, your bank balance or lack of steady job pay cannot hinder you.
See you on the wealth side of things!