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5 APPS THAT HELP SAVING MONEY EASIER

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The truth is, whether or not you have a personal savings culture, saving is a necessary financial habit. The only problem is the discipline required to actually save. Many of us need help to find the balance between necessary expenditure and putting away money for the rainy day.

It’s exciting to see how technology has intervened with a number of innovative apps that make the desire to save easier. Some of these apps are trackers that enable you keep your expenses under control, such as Spendee, Wally, or iExpense. Others go a step further and actually make you put money away.

As usual, with your best interest in mind, we put together a list of apps that will help you save money, nice and easy. Here they are:

KOLOPAY

This is a digital version of our traditional piggybank known as ‘Kolo’. It helps you save towards specific goals. You download the app and choose one of two savings options; ‘easysave’ or ‘autosave’. If discipline is your biggest struggle with saving, then the ‘autosave’ option might be your better option.

PIGGVEST

This is probably the most popular savings app in Nigeria at the moment. Notorious for making its users wince from the periodic direct debit alerts. It is quite effective in ensuring that you save without excuses as it faithfully debits your account to the tune of whatever amount you have chosen to set aside periodically.

ESUSU

This app is literally the digital version of our good old ‘Ajo’ or ‘Esusu’ traditional group savings system. You get to save with a group of friends or family and withdraw in turns every few months. It has the additional value of letting other people keep you accountable.

KWIKSAVE

This is not an app so much as a USSD code affiliated with different networks. It gives you access to loans or a savings option. Hopefully, you’ll be using it only to save, not borrow, since increased savings could boost your credit score should you ever actually need a loan. If you do it right, you might never need one.

COWRYWISE

CowryWise is a tested and trusted app that operates by sending you prompts or directly debiting your account according to a preset saving option. It offers three savings options; periodic, fixed, and one time savings with favourable interest rates at no cost.

ALAT.NG

Practically a digital bank, you open an account in minutes and set a savings goal in terms of time and amount. The only drawback is that you get a debit card like you do with your regular bank account. But if you are determined, you can forgo this option until the habit is fully formed.

So there, you have it. We are sure there are other effective savings apps out there. Let us know any that is not on this list and how effective they are for you. In the meantime, keep saving, keep growing, and smash all your financial goals!

XOXO

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