Saving money for children is a wise decision that every parent should embrace. In Kenya, banks provide different types of savings accounts that enable parents and guardians plan for the future of their children. These accounts help parents to be financially prepared for their children’s future. When things go wrong financially, savings can restore normalcy…
Savings bonds are one of the low-risk investments where individuals lend money to governments through treasury bonds. They are regarded as low-risk investments because they are backed by the governments, which rarely default on their debt obligations. Savings bonds attract low but fixed interest rates, and the interest payment is either annually or semi-annually. In…
Savings accounts have evolved from Traditional accounts in which people saved money in small containers and wooden boxes to modern or digital savings accounts that are provided by banks, credit unions, and SACCOs. Modern savings accounts are the best because they have benefits such as account security, interest on savings, and sometimes loans against savings….
Savings calculators are awesome financial planning tools. They facilitate the savings process by enabling people to know how much they need to save each month and for how long in order to achieve their financial goals. To achieve your savings goals, you need to contribute to your savings accounts consistently or regularly for a given…
Savings accounts interest rates in Kenya are competitive with commercial and investment banks, which are improving their offers each day to attract as many people as possible to save with them. Apart from commercial and investment banks in Kenya, other financial service providers allow people to create savings accounts and start saving money. Credit unions,…
Saving money may sound like a walk in the park, but in a real sense is something that most people struggle with. The success in savings does not come overnight; it calls for discipline, determination, and consistency for the entire duration, like 2 or 3 years. However, it is possible to successfully save money and…
Savings plans are strategies that help you achieve your savings goals. If you are saving money, you can imagine how challenging the process is challenging. These savings plans simply things for you, making it easy to save money. If you unsuccessfully tried to save money, just smile and relax because we are revealing the magic…
As a strategy to foster savings, SACCOS (Savings and Credit Cooperative Societies) are associations of like-minded people who join hands to pull money or resources into a common account or fund for development purposes. The money contributed by each member is called shares or just savings that allow them to get affordable loans. Apart from…
Hopefully, you have heard about high-interest savings accounts, right? When saving money, the savings accounts matter. They determine your overall return from your savings. High-interest savings accounts are preferred for many reasons. In this guide, we are going to look at savings accounts and specifically high-interest savings accounts. We believe that you know what savings…
Saving money is simply putting aside part of your income daily, weekly, or monthly. When you save consistently for a period of 2 to 5 years, the money is accumulated and can be used for many reasons. However, saving money is a process that requires sacrifice and discipline. To succeed in saving, you must be…
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