“Race to the New Year” is a Target savings we have every year, encouraging you to save towards the new year. The idea for this is to have some extra cash to get you through the “long” days of January, after all the Christmas splurging.
In 2020, we saved ₦500 everyday from November 13th until January 2nd, 2022, with a target amount of ₦25,000 per member. By the end of the challenge, the group balance was over ₦130 million with over 3000 members. We were impressed and, as the saying goes, we decided to “go again” the next year.
We upped the stakes in 2021 and set the Target at ₦40,000 per member. We thought we had figured out that sweet spot, but you guys surprised us again! Over 7000 people joined this time and everyone wanted to earn the title, “Best in saving.” Before we knew it, we were looking at a mind-blowing group balance of over ₦460 million.
This means that we hit almost 4x the target amount in 2021 with about 2x the members.
Honourable mention to the members who enjoy being on the leaderboard. We see you people o! 👀
This year, we go again! What should the target be this time? ₦1 billion? Too much or too little? Well, guess we’ll find out at the end of the year. 🚀🚀
If you would like to set up your own Target savings or join one with other PiggyVest users, login to your PiggyVest account, tap on Savings> Targets> Create a Target or Join a Savings Challenge.