Whether or not you are one to make a list of new year resolutions, it is important to have financial goals and draw a roadmap on how to finance them. In most cases, financing your goals comes with saving, preferably through products that generate interest and using tools that would make the saving process simple.
Here are four things you can do on Cashlet to make your savings journey as easy as possible:
- Kick start Your Investment Journey – Cashlet offers an easy way to start saving and growing your money with just 5 tabs on your mobile phone. You can set the target amount for your investment goal, and start with as little as Ksh 500, which you can deposit anytime via M-Pesa.
- Set Multiple Goals and Targets – Whether you are working towards building an emergency fund, saving for post-graduate education, building finances for a new house, or putting money aside to take a vacation, Cashlet allows you to set multiple goals in order of priority. You can start saving for your first goal and add others later.
- Earn Interest on Savings Through Unit Trust Funds – Every time you top up funds for your goals, Cashlet will put the savings into a unit trust that will earn between 8-10% interest to help you achieve your goals faster. On the Cashlet App, you can access three money market funds regulated by the Capital Markets Authority of Kenya. You can choose between Digitrust by ICEA Lion, Hela Imara by Genghis Capital, and Old Mutual Money Market Fund by Old Mutual.
- Track your Goals – Cashlet allows you to set a timeline and amount to your goals and track your progress towards achieving them, acting as a digital accountability partner throughout the savings process. You can easily monitor your daily, week, monthly and annual savings growth through a real-time dashboard.
Cashlet is launching its platform in mid-February. Click here and sign up to join the waiting list
Also read: Savings Startup Cashlet Prepares to Launch in Kenya
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