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The quest of financial independence is a common ambition for many people; it is a path toward the ability to pursue our aspirations without financial restraints.
However, doing so can be difficult. Saving money is the first step in laying the groundwork for financial freedom.
Saving consistently, on the other hand, proves to be a stumbling obstacle for many people. To truly take control of your finances and realize your long-term savings goals, you must use the right tools and tactics.
Creating a savings culture means cutting back on unneeded expenses. Examining your spending habits will help you identify places where you can decrease costs and transfer funds to your savings goal.
Mobile banking and its attendant developments have transformed the financial environment.
This paradigm change enables users to easily leverage available options. Nowadays, we have the benefit of seamless saving and easy access to savings accounts via digital devices. This dynamic allows for goal planning and comprehensive financial management.
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The good news is that Equity Bank offers a safe and secure way to save money for future usage directly from your mobile phone, laptop, or desktop.
If you need to save money for an unanticipated incident or for short, medium, or long-term needs, all you have to do is log into the Equity Mobile App or Equity Online, click save, and then choose how you want your money to grow. This allows for increased freedom, control, flexibility & convenience for customers as the services can be accessed both within and outside working hours at the comfort of their homes or offices. You can utilize different savings accounts (https://equitygroupholdings.com/ke/save-invest ) offered on the platform: the Classic Saving Account (https://equitygroupholdings.com/ke/save-invest/jijenge-account ), Fixed Deposit Account (https://equitygroupholdings.com/ke/save-invest/save-and-invest-call-fixed-deposit-account ), Call Deposit Account (https://equitygroupholdings.com/ke/save-invest/save-and-invest-call-fixed-deposit-account ) and Goal Account (https://equitygroupholdings.com/ke/save-invest/eazzy-save ).
You can create precise and labeled saving objectives for education, weddings, vacations, house deposits, building an emergency fund, and so on to help them stay focused while they save.
With the Classic Saving Account, customers can save any amount and top up as frequently as they can, while earning interest on the funds in the account. For the Fixed Deposit Account, rates are offered for the agreed period and with no provision for partial withdrawals before maturity. The Call Deposit Account is a short-term saving account which unlike fixed deposits, allows customers to make early or partial withdrawals from the call deposit without any penalties. The Call Deposit Account is also an excellent tool for cash management for individuals and businesses looking to deploy funds into their investments slowly over time. The Goal Account is a savings account towards short-term and long-term goals. Customers can set up specific, and labelled saving goals for Education, Weddings, Vacations, House Deposit, building an Emergency Fund etc to help focus as they save. You can set up scheduled savings be it daily, weekly, monthly to match your income frequency and budgeting preferences.
With all these saving accounts, you can easily track the progress made for each goal, providing you with a clear picture of your savings growth. You can also customize your saving schedules according to your individual preferences, facilitating habitual saving.