Why Save?
Saving is more than just setting aside part of your income; it's a financial safety net and a means to achieve life goals. Whether it's buying a home, starting a business, or dealing with unexpected emergencies, a savings fund can make a difference. According to a survey, nearly 40% of Kenyans lack an emergency fund, leading to financial instability during unforeseen circumstances. For example, the COVID-19 pandemic highlighted the importance of having an emergency fund. Many faced job losses, reduced income, and unexpected medical expenses. Those with savings were better equipped to navigate these challenges, underscoring the importance of financial preparedness.
Financial Freedom
Saving money can provide you with financial freedom. It allows you to make choices that you wouldn't otherwise be able to make, such as taking a career break or pursuing a passion project. Financial freedom doesn't necessarily mean being wealthy; it means having enough savings to live life on your terms.
Did you know that a lack of savings is one of the leading causes of financial stress among adults worldwide?