Before the rain starts beating you…
Most of us are always complaining about how we have ‘more month’ left after the end of our money. It, therefore, becomes laughable if not insensitive when someone remotely suggests that we try as much as possible to scrap some money and “save” some bit of it. We quickly dismiss that thought since it becomes it touches on some raw nerves, financially speaking. The bills have to be paid, and life has to be enjoyed, we think to ourselves. Tomorrow as the good adage speaks will take care of itself, we resignedly placate ourselves.
The advantages of setting aside some cash, however, far outweigh the temptation to eat life with a big spoon. Saving money is something you will be grateful for in the future.
Saving money in the bank and over a period of time will ensure a return on investment since you earn interest on your savings. If you keep up with this habit of saving for a long time, then the fruits will be handsomely rewarding.
Saving money gives you peace of mind, knowing that you can cater for emergencies as they come. Let us be honest, how many of us have lost sleep trying to balance the numerous bills that we have to sort with the ever-limited finances? Saving will cushion you against such anxieties and spare you the sleepless nights. And hopefully enjoy a productive, stress-free day, every day.
Having money does not positively guarantee you happiness, though, but being in the red, financially, is a primary cause of serious stress and its related maladies. However, knowing you have some cash for a rainy day can allow you some degree of happiness and peace.
ABC Bank is in the business of ensuring that you keep the Saving Habit intact. With its belief that where you are today should only be a launch pad to greater things tomorrow, the bank has designed an array of savings products to suit your different financial needs. They include:
- Youngstar – Teach your child to start saving and learn the ropes of attaining financial independence from an early age. Our Youngstar Account is especially tailored to the needs of your child of below 18 years.
- Pure Savers – This is the perfect solution for saving for your dreams as you earn high interest returns from as low as Kes 5,000 with no account maintenance charges.
- Target Account – Achieve your dreams and goals with target. It allows you to set your savings target and the period to achieve them through sweeping funds from your operative account to meet your desired goals. Also, it offers a competitive interest rate growing with your savings.
- Flexi Fixed – A highly innovative account that allows you to budget your requirements and automatically sweeps all amounts above the budget to a high yielding term deposit product. It also gives the flexibility to reinvest the interest earned or credit the account with your interest. You can also borrow against your funds and liquidate the fixed deposit on a Last in, First out basis thus maximizing returns.
- Fixed Deposit Account – This is a high yielding account with a variety of tenors that guarantees maximum returns to suit individual needs
The most important point, start saving. Save, Save, and Save! You will thank ABC Bank later. Learn more about ABC Banks Savings and Investment Accounts Here.Do you believe in life after employment? It is real! This is no breaking news though. We will all get to an age when we cannot work anymore. Retirement is certainly a period that should be enjoyed after long years of laboring in employment. Getting to this time without any savings is almost certainly a guarantee that you will not have much to enjoy in life after leaving work.
The government’s National Social Security Fund (NSSF) is one vehicle that is designed to ensure every working Kenyan has at least a soft landing after their last day of work. Unfortunately, it certainly is not enough to cover and sustain your lifestyle in your sunset years. It is prudent to prop it up by putting some more funds in to any of the many pension schemes available in the market. The distance between you and a secure retirement is the same distance from your phone or email to our sister insurance firm, ABC Insurance Brokers, who are more than eager to set you on the right path towards a comfortable and fulfilling post-employment life.