Should you save or take a loan to achieve those goals?

Every dream has a price tag, especially when it comes to long-term goals like owning a home or starting a business. Whether you’re aiming to buy land or build your dream house, you’ll need to decide: Should you save up or take out a loan?

It’s a tough call, and with Nigeria’s current economic climate, it’s easy to feel stuck. Interest rates are climbing, making the cost of borrowing higher than ever. While taking out a loan might seem like the quickest route to owning property, the long-term financial burden of paying off high-interest loans can be overwhelming.

We recommend saving up for these long-term goals, and here’s why:

Why We Recommend Saving

Instead of diving into debt, consider the benefits of saving towards your goals. By saving, you’re not only avoiding the heavy burden of loan repayments but also positioning yourself to earn interest on your savings rather than paying it to a lender. Imagine the peace of mind that comes with knowing you’re steadily moving towards your dream home without the stress of looming debt.

The amazing part is you don’t have to navigate this journey alone. Engaging a qualified and licensed financial advisor, like REKIT Financial Advisors, can be a game-changer in achieving your financial goals. A financial advisor will work with you to assess your unique situation, create a personalized savings plan, and guide you in making informed decisions that align with your long-term aspirations.

As highlighted by Samuel, A. T. (2023), “the significance of financial stability and the influence of expert financial advisors on the financial well-being of Nigerian citizens cannot be overstated” (International Journal of Research and Scientific Innovation, 10(11), 01-15). Partnering with a financial advisor ensures your financial decisions are grounded in expert knowledge, tailored advice, and a commitment to your financial well-being.

Ready to Take the Next Step?

We’re here to help you turn your dreams into reality. Send us an email or WhatsApp message with answers to the questions below, and we’ll connect you with the right savings and investment opportunities that can help you grow your monthly contributions towards buying land and building your home.

1. What year are you looking forward to buying land?

2. What year are you aiming to build a house on that land?

3. What is the anticipated cost of the land you want to buy?

4. What is the estimated cost of the house you want to build?

5. What is your current salary?

Email: [email protected]

Whatsapp/Call: 07062106633

Let’s make your homeownership dream a reality!