For most of us, saving can be very hard as we used to a spending lifestyle than a saving lifestyle. We, however, should learn from the older generation.
Most of them invested in houses, livestock and businesses. They have something to show that at some point in their lives they had to save in order and in turn they made investments.I f you want saving to be easy, have a goal of why you are saving, it can be to buy a stand, a car or furniture. There are 4 ways I want to share with you so that you can start saving;
- Mkando / AmaRounds
Depending on where you grew up, in Matabeleland we call them AmaRounds, this is whereby a group of people can come together and save as a group. They can choose to save every day, weekly or monthly. For example, if it’s a group of 10 women each contributing $20/week that means that they will be having $200 if it’s their turn to get money if you have $200 you can choose to save it as it is or spin in to make more money. From a $200 seed, you can make even 10 times that by the end of the year.
- Tin saving
Igabha /Chigabha saving is just an African version of the piggy bank. What you do you can save using the 52-week challenge. This, for instance, is very easy to do, you can start with the small weeks, week 1 you contribute a $ 1, week 2 you contribute $2, by the time you get to week 52 you would have saved a whopping $1378 and with this you can buy whatever you will be saving for, or invest it and get interest.
This is similar to the Mkando/ AmaRounds but with this one, you save the money and share end the end of a certain period, it can be after 4 months, 6 months or a year. You can contribute any amount say you contribute $20/week x 52 weeks you will have saved $1000. With this club, you can agree as a group that you can borrow money and pay it back with 25%, 20% will be you’re the person who borrowed the cash and 5% will be shared amongst the group. If say you borrow 1200 during the course of the year, you will pay an interest of $300 of which $240 will be yours and $60 will be shared equally amongst the group.
If say you are a group of 20 and everyone has an interest of $60 that has to be shared amongst the group everyone will get $60+300 interest and $1000 that will be $1360.
Buying livestock especially cows is not only a form of saving but an investment as well. If say you buy your cow for $200 in a year it will be worth $400, if you have 10 cows in your cattle you have $4000 if you have an emergency, you can just sell one cow and you can sell milk as well. Jackpot!!!!!
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