Saving Strategies

Savings and investments are both financial planning strategies. They have similarities and differences in their objectives and benefits. First of all, savings provide people with avenues to prepare for the future. Through savings, one can build an emergency fund, buy a house, or fund education and weddings. Investments, on the other hand, are long-term financial…

When you save money, the interest earned is taxed. This should not discourage you from saving money because only interest income is taxed, while your savings remain intact. In the United States, particularly, savings accounts are taxed. Understanding how savings accounts are taxed helps you determine your net interest income after taxes. This guide will…

Saving money is very important in day-to-day life. Savings can be used to meet financial goals such as buying a home or a car. They can also be used during emergencies to sort out issues. Savings accounts enable people to save money and enhance financial security and growth through interest earnings. In this guide, we…

Discover the best savings accounts for children in Kenya. Compare top banks’ features to help you start saving for your child’s future today. 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…

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 over time from Traditional accounts in people saved money in small containers and wooden boxes to now 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…

Find the best savings calculators to plan your goals, estimate interest, and track your savings growth To achieve your savings goals, you need to contribute to your savings accounts consistently or regularly for a given period of your choice like 2 or 5 years. This means that you need to save money each month or…

Savings accounts interest rates in Kenya are competitive as commercial and investments banks are improving their offers each and every day to attract as many people as possible to save with them. Apart from commercial and investment banks in Kenya, there are other financial service providers that allow people to create savings accounts and start…

Saving money may sound like a walk in the park but in 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 achieve…

Learn about the best savings plans to grow your money. Explore smart, flexible options to help you save for your goals and secure your financial future. Why Smart Saving Plans Are Key to Growing Your Money in 2025 Have you tried to save money? Did you experience any challenge while saving money and how did…