Saving money can sometimes feel like a chore. We always say “I’ll start next month” but that never quite happens. Here’s the truth though: saving isn’t about having a lot of money, it’s about building the right habits with whatever you have. And the earlier you start, the easier it gets.
Whether you’re just beginning your financial journey or trying to get back on track, this guide will walk you through the basics of saving smartly and sustainably.
Start with Your Why
Before you create a Savings Vault or plan, ask yourself why you want to save.
Is it for travel, rent, a rainy day, or long-term goals like buying a car or moving abroad? Having a clear reason keeps you motivated when things get tough. Your “why” doesn’t have to be grand, it can be as simple as wanting peace of mind and that is valid. The important thing in your savings journey is that you give your money a purpose.
Know Where Your Money Goes
Saving starts with tracking your expenses. You can’t save what you don’t track.
Start by reviewing your expenses for the past month. Check your transfers, food orders, subscriptions, and impulse buys. You’ll likely spot patterns and small leaks that can be fixed easily.
A simple budget rule like 50/30/20 can help:
- 50% for needs (rent, groceries, bills)
- 30% for wants (leisure, outings, shopping)
- 20% for savings and investments
It’s not rigid, you can adjust it to fit your lifestyle. The point is to be more intentional with where your money goes.
Pay Yourself First
It sounds cliche but one of the best savings hacks is to treat saving like a bill. Once your income hits your account, move a set amount straight into your savings vault before you start spending.
With Rova, this is simple. You can:
- Create a Savings Vault in NGN or GBP
- Set your target amount and duration
- Earn juicy interest while your money grows safely
By automating your savings, you remove the temptation to spend it elsewhere.
Start Small, Stay Consistent
Don’t wait to have “enough” before you start saving, start where you are. Even ₦50,000 or £50 adds up over time.
Look at it this way, to build muscle, you have to use it. The more you use a muscle, the stronger it gets. That’s how savings work. The key isn’t the amount, but the consistency.
Set a reminder or automate your savings to help you stay accountable. Small steps create real change.
Cut Back (Smartly)
You don’t have to give up everything you enjoy to save. Instead, identify what matters most to you and trim what doesn’t.
- Cancel subscriptions you don’t use often
- Review recurring payments
These small cuts create room for bigger financial wins and less guilt when you treat yourself.
Make Your Money Work for You
Saving isn’t just about keeping money; it’s about helping it grow.
With Rova’s Savings Vaults, you earn interest on your funds while keeping them safe.
You can also explore multi-currency savings. This is ideal if you earn or plan to spend abroad. It’s a great way to protect your money from exchange rate fluctuations and save with confidence in NGN or GBP.
Celebrate Small Wins
Every milestone counts. Whatever amount you’ve saved , celebrate it.
Rewarding yourself builds positive momentum and helps you see saving as something empowering, not restrictive.
Saving money is less about restriction and more about freedom. The freedom to say yes to the things that truly matter to you. And with Rova’s Multi-Currency Accounts and Savings Vaults, saving is not only easy, it’s very rewarding.
