Saving for rainy days is a common piece of advice that should be heeded by everyone. Surprisingly, it is often overlooked. Saving for a rainy day means keeping money aside when times are good so that you can have something to sustain you if things get difficult. It could also mean since no one can predict when emergency (good or bad) expenses would erupt; it is therefore important to be prepared peradventure they do erupt.
Admittedly, saving can be very challenging; especially when your earnings remain the same while your needs, responsibilities and inflation increases without any shade of hesitation whatsoever.
However, anyone who wants to maintain a healthy financial life must not only endeavour to always look for ways to save, but actually save, instead of coming up with excuses. He who does not save now will need to be saved at some point in the future: don’t live your life now in a way that you would be at the mercy of others later.
Savers are hardly ever worried about uncertainties, as they are confident that the Savings they have accumulated is always there to fall back on during emergencies.
Many people are under the erroneous impression that you have to save a huge amount of money every month to be able to generate ample savings and therefore get discouraged.
Depending on how your earnings come, you can make provision for such unplanned occurrences by saving a part of it monthly, weekly or daily. The popular rule of thumb is to save at least 20% of your income.
A reliable way to develop good saving habit or reserve is to take up a savings plan. This way, you become more committed in meeting up with your monthly/weekly/daily contributions.
Custodian Esusu Shield plan is a flexible savings plan that does not only help the holder to save, but also protects the holder against some emergencies e.g. medical expenses as a result of an accident. It also provides life Insurance cover in the unfortunate event that the policy holder passes on by paying agreed compensation to his/her assigned beneficiaries.
Contact us for the Custodian Esusu Shield today to learn more.
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