Cashlet will soon be on the Google Play Store with launch dates set for February 20th 2022. The savings and investing app plans to go live with features that will help users start saving small, building up their consistency in both saving and investing through the mobile app.
Saving money does not come easily. There are priority bills to pay and costs of living to keep up with. This, and many other pressing needs, keep many from starting their savings journey. That said, it is still necessary to build a savings habit and have some money for a rainy day, to finance a goal, or to build enough reserves to start investing. The first step to achieving any financial goals is to start saving whatever small amount you can and maintaining consistency in putting money aside over a decided amount of frequency, whether it’s daily, weekly, bimonthly or monthly despite financial adversity.
How Does Cashlet Help Build Consistency in Saving?
First, Cashlet makes it immensely easy to start saving by allowing you to put aside as little as Ksh 500 which you can deposit directly from your M-Pesa (which costs significantly less than the old school bank standing order).
Second, the app puts your savings into unit trust funds with a projected annual interest rate of between 8-10%. This means that the money you put aside benefits from compound interest, pushing you closer to achieving your financial goals than just having your savings on a platform that does not accrue interest.
Third, Cashlet has an interactive monitoring tool that will help you track your savings journey, allowing you to monitor your daily, weekly, and monthly progress towards your goals or multiple set of goals.
Join the waiting list to get early access to Cashlet. Sign up on the Cashlet website here.
The iOS version of the application will come in the second quarter of 2022.