Best Places To Start Saving In 2023

Saving a small amount every day, week, or month depending on your income can help you clear debts or help fund your future goals.

Many options for savings nowadays will give you an interest on the amount that you put in, which means that you can end up earning money back.

Not all places will give you this option, but putting your money into these places is a good way to help you become consistent with saving.

Cheki some of the information tume-put together na useful tips from MESHers and na places wanaweka pesa zao.

Lincoln Opiyo saves his money in a locked savings account. Hii ni account where you can choose how long unataka ku save for. Hii time period inaweza start at one to two months au iende hadi up to 6 months depending na bank ume choose ku save nayo.

One reliable example ya locked savings account ni Safaricom’s M-Shwari, which is easy to access through your smartphone.

Ted Waweru anasema yeye hutumia Fixed Deposit account instead of a normal savings account.

Fixed deposit account ni pale unaweza weka pesa zako for a certain amount of time, between 1 to 12 months, na una earn interest on that amount. Interest rates hu vary depending on the bank ume choose ku save nayo.

Hii ni great option kama unajua you won't need your savings for a while, kwa sababu the interest is higher compared to regular locked savings.

Koa is a digital platform that helps you save for specific goals, which means unaweza chagua what your savings goal would be. Una earn 10% compound interest on any amount that you put in na unaweza save as little as 100kshs daily.

All you need to register is a smartphone and a working line. Ni rahisi ku set up. Learn more about it kwa website yao.

Jane Wamaitha ana encourage wasee wa save pesa zao in Chamas because zinakupatia opportunity to do so in a group. Whether ni wewe na mabeste, family or neighbors, saving pamoja hu motivate na kuku hold accountable so that you keep saving.

Ukianza au uingie kwa Chama, kuna different systems depending on the members, moja inaitwa merry-go-round which means, each member ana put in an agreed amount and every month a different member ana receive the full amount.

Chamas are a great way to save kwa sababu unaweza kua as flexible as you want.

Shillingi Cash is a digital platform ya Standard Chartered that allows you to save on your basis- which means unaweza chagua ku save pesa zako on a daily, weekly or monthly basis.

Kutumia Shillingi Cash unafaa kuwa na bank account with Standard Chartered, smartphone na line yako. Ku learn more about vile ina work and how unaweza sign up, check out this article by the Kenyan Wall Street.

Before you start saving with one of these options, here are some things you should consider:

➤ How easy it is to access the funds- Many of these options will charge a penalty fee if you withdraw the money before it has had time to mature, which means you may not be able to benefit from the amount you would have earned from the interest.

➤ Interest Rate- Some of these places will offer greater interest rates than others, so it’s always best to compare them and choose the one that best suits your needs and goals.

However, the most important thing ni understanding why you are saving. Hii itakupatia motivation to keep going na kukuallow ukue consistent na savings zako.

From the advice na information imekua shared, sasa amua vile uta save pesa zako. Which option looks best?

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