How MOMBO Sacco’s Goal Savings Accounts Can Help You Achieve Your Financial Goals
Picture this; you were scrolling through Instagram one day and you came across a gorgeous furniture set, or an attractive vacation package and since then it occupied your mind nonstop. The only trouble is that you can’t afford to buy it right now as you have bills pending and can’t afford to splurge on either of these two things all at once without breaking the bank.
This is where Mombo Sacco’s Goal Savings Account comes in. Having a dedicated savings account that allows you to slowly set money aside for a greater plan is like having an ally on your side. And what’s better than having a Sacco you can trust walking this journey with you? Let’s dive into how Mombo Sacco’s Goal Savings Accounts can help you achieve your financial goals.
How To Set Savings Goals
One of the biggest reasons most people fail to achieve their savings goals is their inability to quantify said goals. So how do you avoid this pitfall, here are some steps to setting successful savings goals:
1.????? State your goal: Specify the amount you intend to save and create a category for it so that you always know what you’re saving for.
2.????? Determine which Goal Savings Account to keep the account: We currently offer two Goal Savings Accounts that allow you to save as much as you want for fixed periods of time with attractive returns.
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3.????? Calculate the amount you want to save: Divide the amount you intend to save by the number of months to the deadline. If you want to save KES 50,000 for the Sprint Goal Account, you’ll need to put away at least KES 8,000 every month. Always check your budget to ensure your goal is realistic.
Which Mombo Goal Savings Account Should You Go For?
Now that you know how to set a savings goal, its time to determine which Mombo Goal Savings Account you should go for.
The Sprint Goal Account is designed to help you achieve your short-term financial goals such as buying that elegant furniture set, shoes or that birthday vacay you and your friends have been planning for. The best part about this account is the highly competitive 6% interest your money will be earning as you save.
The Marathon Goal Account, on the other hand, is meant for long-term financial objectives like buying a piece of land, building an emergency fund for your rent or getting out of debt. The 10% profit earned throughout this entire period of saving is yet another perk of this account.
Let Your Money Work for You with Mombo Goal Savings Accounts Today!
A Goal Savings Account allows you to better plan for things without impulse buying, achieving financial freedom and practicing delayed gratification. If you have more than one goal that you are working towards, Mombo Sacco offers you several options that will help you achieve both your short term and long-term goals at some of the most competitive interest rates in the market. Download the Mombo app today to get started on your financial journey.