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Five Vital Ways To Build Your Savings Faster

You may have used all of your savings recently in an emergency or are starting to save. Here are some tips to help you increase your savings;

1. Pay yourself first

According to research, paying yourself first is the quick secret to accumulating much more savings. Put at least 10 percent of your earnings in your savings account before paying anything else. Do not save what is left, but rather save before spending.

2. Save automatically

You can choose to save automatically. This is the easiest and most effective way to save for your future. This means that the percentage amount you choose to save bounces directly into a savings account once your earnings reach your normal account.

3. Save your coins

The 5, 10, 20 shillings that your merchant returns, since the exchange of your purchases can turn into a good amount of money if you choose to throw them to a secret  Get yourself a home bank and you will never regret it.

4. Use your credit card wisely

Use your credit cards wisely or you can choose to stop using them. Why? Because for every transaction you make with your card, there is a fee. The more you use your credit cards, the more money you will lose as transaction costs.

5. Say no to fast food for lunch Most Nigerians who work in the city end up using a lot of money just for lunch. Instead of spending hundreds of shillings on chicken and fries, why not pack some house food for lunch? Try it for a month and see how much you have saved.

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