Imagine earning money while you sleep, while you’re out with friends, or while you’re focusing on enjoying life. That’s the dream of passive income, having your money come to you with little to no hustle. But what if we told you it’s possible to generate ₦90,000 every single month, passively?
You can earn ₦90,000 as passive income monthly on Piggyvest by saving at least ₦6,000,000 with PiggyBank. This wallet allows you to earn up to 18% per year (paid monthly) while keeping your capital safe and secure.
While it might sound like a lofty goal, achieving this level of passive income is mathematically possible using tools you might already know and love. We already shared how Flex Naira can help you make ₦100k monthly, but today, we’ll explore how you could potentially reach this target using one of Piggyvest’s core features — the simple, yet powerful, PiggyBank wallet.
What is PiggyBank, and how does it generate income?
Think of your PiggyBank wallet as your primary digital savings account on Piggyvest. It’s designed to help you build financial discipline and save money consistently, often automatically. But it doesn’t just hold your money — it helps it grow.
The primary way your PiggyBank savings generate income is through interest. We offer 18% yearly interest on the funds you save in your Piggybank wallet, allowing your savings balance to increase over time without you having to lift a finger (beyond setting up a Piggyvest account, of course!).
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But the sweetest part about the PiggyBank interest is how it’s paid: monthly!
This means that we calculate the interest you earn on your savings balance and add this back into your Flex Naira wallet every month, aligning perfectly with your goal of generating monthly passive income. This also means you get to enjoy the power of compound interest!
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How to make ₦90,000 passively using PiggyBank
If the goal is to earn ₦90,000 passively every month from your PiggyBank 18% annual interest, you’ll need to have at least ₦6,000,000 saved. But what if you don’t have 6 million in cash right now? That’s easy — you can just save towards your passive income goal. The key is to break your goal into a timeline that works for you.
So, let’s say you want to start earning 90k per month from PiggyBank in six months:
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- Start with ₦1 million per month. Add your money to your Piggyvest account using Quicksave.
- Set up an Autosave of ₦1 million per month. PiggyBank allows you to automatically save money so you can save (and earn) without thinking about it. You can even set up daily or weekly Autosaves, as long as it adds up to, at least, ₦1 million naira.
- Watch your balance grow to ₦6 million. You don’t have to worry about adding extra cash if you’ve set up Autosave. However, we recommend saving your monthly interest to Piggybank immediately after receiving it so you can earn interest on your interest!
- Enjoy your passive ₦90,000 per month passive income after six months. Your money belongs to you, so you can choose to withdraw the interest every month or put it back into other Piggyvest wallets to keep growing your savings. Enjoy!
But what if you wanted to start earning 90k in a year? Well, same steps, different calculations: you just need to save at least ₦500k monthly to hit your goal!
Start earning passive income with Piggyvest!
The great thing about saving towards your passive income goal on Piggyvest is that your capital stays safe and you earn interest monthly while at it — even before you hit your ₦6,000,000 goal. Plus, you’ll keep earning interest forever — as long as you have money in your account.
So, are you ready to start building towards your own passive income stream? Download Piggyvest now!
