How the #SaveAgainstSAPA Challenge Helped Me!
In November 2021, we launched the #SaveAgainstSAPA challenge. Kayode, a 29year old product manager was one of those who entered the challenge. Though he wasn’t one of the winners, he enjoyed being a part of the challenge and shared his story with us!
From Kayode:
Everyone says January 2022 feels short. Well, that is true for me but only because, I am not broke this time.
In November 2021, I joined the Backup Cash #saveagainstsapa challenge. The aim was to ensure that I didn’t go through the first month of the year grumpy, broke and in debt. While there was a catch- the possibility of winning some extra cash, my focus was building my Backup Cash.
As a monthly salary earner, I thought of waiting for the November salary to enter before joining the challenge but then, I also did not wish to procrastinate. So, I opted for Backup Goal, setting the platform to deduct 1000 Naira daily from my account.
You may be wondering how could I afford to do this since I typically do not earn daily. Besides, it is most convenient to set these in line with your earning pattern. However, when you are determined to see a change, there is always a way.
Usually, I would spend 1200 Naira on lunch daily. So, I set the Backup Goal to deduct N1000 from my bank savings at about the same time I will usually place an order for my lunch. With this, I had no choice but to start taking food to work; a cheaper and by far healthier option.
By the end of the challenge, I had saved more than the 60,000 Naira because I also decided to lock the 13th-month salary I received and depended on only my regular salary and the bonus I received. It’s almost the end of January and I still haven’t touched the savings. The goal is to keep building my savings but this time, I will be performing a monthly Backup Goal with the date set to a day after payday.
I strongly recommend Backup Goal for the purpose of consistency and Locked savings for moments when you have bulk cash you don’t want to use for a while.
