Start saving small and finish with more
Start saving small and finish with more

How To Reach Your Financial Goals In 2020


Do you know that if you had started saving ₦100 every day from January 1st till the end of the year, December 31st, 2020, you will have ₦36,600 as your savings, and If you had begun saving ₦500 every day from January 1st, by the end of the year you will have ₦183,000? You are not here to receive a lecture on what you could have done. But saving is a necessary financial habit and beginning today is not late.

The major problem when it comes to saving is the discipline required to not only save but to keep saving. Sometimes, all we need is a little help to find the balance between what we want, need and what we need to put away money for a rainy day.

We have our steady and trusted ‘Kolo’ (traditional piggy-bank), saving lives and money since 1960, but then sometimes, we discard it, forget to save or break it open to enjoy its loot. So, while it is a saving tool, I cannot say it is reliable in achieving your saving goals.


Technology has, however, made everything better now with automated deductions and trackers to keep your savings under control. Here are some apps that will help you meet your savings goal this new year:

1. KoloPays

This is the digital version of our traditional ‘Kolo.’ It helps you save towards specific goals. You download the app and choose one of two savings options: easysave or autosave. I suggest the latter if you struggle with discipline and even if you do not, the last thing you want to do is forget.


This is probably the most popular savings app in Nigeria with its reputation for debiting without fail and informing you with swift alerts. It is effective in ensuring that you save without excuses, as it faithfully debits your account to the tune of whatever amount you have chosen to set aside periodically.

3. Esusu

The Esusu app is literally the digital version of good old ‘Ajo’ traditional group savings system. You get to save with a group of friends or family and withdraw in turns every few months. It helps as the additional value of letting other people keep you accountable.

4. CowryWise

This is a tested and trusted app that runs by sending you prompts or directly debiting your account based on your stipulated saving option. It proposes three savings options and they include: periodic, fixed, and one-time savings with favourable interest rates at no cost.


If you struggle with trusting saving apps that have no ties to the bank, then ALAT is the app for you. It is a digital bank, courtesy of Wema Bank; you simply open an account in minutes and set a savings goal in terms of time and amount.

Though they all serve and work in similar functions, you get to choose which app helps you improve your saving habit and smash your financial goals.

Happenings Media