There are essentially two strategies for boosting your savings and investments: Increase your income and cut your spending.
Whether you’re a young adult ready to start saving for retirement, a 50-something ready to pay off your debts or you’re just living on a fixed income, these two things are super essential.
PiggyVest aims to help you do that while guiding you through the process!
Every month, we shine a spotlight on one saver, asking them questions about their savings and investment culture and how the product is specifically helping them shape how they spend and save for future responsibilities.
So, here we go. Meet Sam.
What do you do?
I work in Government as an Aide of the Abia State Governor.
Where do you live?
I live in Umuahia, Abia State.
When did you start saving on PiggyVest?
Can’t recall the exact period or date I started using Piggyvest but it must be over a year now.
Apart from saving, do you also invest and in what?
Apart from saving, I invest in Mutual Funds with Stanbic/IBTC Bank and I also have shares and Real Estate.
What do you spend most of your income on?
I spend most of my income on taking care of my family and dependents. Meeting the family needs, sorting school fees for my 4 Children and others I pay for and putting something aside for the rainy day.
What would you like to stop spending money on?
Hmmmn. Not saying its a bad thing but I do give a lot even when it is not convenient. I would like to be able to say no or I don’t have a little more.
If money wasn’t a concern, what would you be doing?
Limitless educational and knowledge pursuit at the best institutions in the world. Higher studies, fellowships, etc. Then returning to Nigeria to impart knowledge acquired.
Do you enjoy travelling and where is your dream vacation destination?
Travelling has always been part of my job requirement for over 2 decades now so I have come to get used to it. I’ve traveled a bit to European, American and Asian countries and I want to prioritize travels within the African continent for my vacations starting with Kenya, Tanzania or Gambia.
Within your savings period, have you ever been tempted to withdraw, if yes how many times?
Yes, I get tempted to withdraw a lot. Directly linked to what I said earlier on about giving a lot. So I find myself withdrawing from my Piggyvest savings a lot to help people in need.
What PiggyVest feature is your favorite?
I love the Safelock feature on PiggyVest. It helps me lock funds away that cannot be touched until a future date when I need the funds. I use this feature to lock away my Children’s School Fees and it helps me pay School Fees without stress.
How do you budget your income?
I honestly do not work on a budget. I spend as the need arises but I am not irresponsible. I put aside a lot too.
How many sources of income do you have?
I have my salary from my job, allowances for when I travel and the likes, I also have income from other businesses.
Has PiggyVest helped you save?
For sure PiggyVest has helped me save. The programmed deductions can be annoying at times when you have plans for that money but you know its for good so you take it on the chin and smile.
There it is guys. You too can begin to use your PiggyVest account to fulfill all your savings needs! Remember you can start with as low as N100/daily; and pick your own flexible investment options!
Go to www.piggyvest.com now to get started.
Thanks for reading!
The PiggyVest Team
If you’re curious how to, like Sam, use to the Safelock feature to its maximum potential and earn up to 13% interest per annum, then you should probably read this post.
It is the guide of all guides to maximising your safelock investments because…WINTER IS COMING!