How To Save Money As A Student In Nigeria
save money in university or saving money as a college student in Nigeria is not easy as being in school and making efforts to save money in university seems tougher but I have good news for you.
- Ever wondered what your life will look like after school?
- Have you ever imagined how hard it’s going to be when you’re a fresh graduate and no job and no money?
- Ever wondered how sweet life as a fresh Nigerian graduate will be when you have saved enough money to start up your life with or without job?
Before I dive deeper into this discussion about ways to save money as a student in Nigeria, let me tell you a short story.
When I was in the University, I had this Barrister Uncle who is SAN that promised to get me a job in either any Good oil company or Government ministry because of the connection he has.
I read Geology in school and since 2014 when I graduated from the university, my Supposed Angel Uncle have not even gotten me a house help or Driver job till date.
Imagine how difficult my life would have been in when I was a fresh graduate without Savings waiting for my NYSC call up letter.
Well, today, I’m glad to let you know the job disappointment from my uncle is actually a blessing to me today because since day one, I never took him seriously and it didn’t kill my vibe.
My advice is, in any level of school you are reading this short article, Saving money while in school is one thing no one has warned you about that you must take very seriously if you want a good life after school.
Related: Ways to save money in Nigeria
Here are a few reasons why you must start saving money in University or college.
- Your parents will stop giving you pocket money
- You are very likely not to get a job immediately after school
- Your bills will start getting matured, no more pocket money bills.
- You will need to get a life for yourself.
One of the ways not to be a victim of circumstances is to learn how to save money in university ahead of time.
So, the best I can do right now is to show you the best way to save money in school and how to save as a student in Nigeria using Sumobank savings platform.
You will also learn how to save money as a student without working, just from your pocket money.
First of all,
What is SumoTrust?
SumoTrust (Fromerly SumoBank) is an online Digital savings and investment platform that is currently helping thousands of Nigerians to save and manage their finances.
The platform is designed with students both in secondary school and university at heart.
One great feature about Sumo Trust savings platform is that it allows you to have FREE access to Entrepreneur Platform business academy and connects you to other partner platforms that you can make more money and spend less.
With Sumotrust, how to save as a student is no longer a problem, so, below is how to save in school Sumobank.
How To Save Money On SumoTrust
- Create a free account at sumotrust.com
- Verify your account email and Login to your account dashboard.
- Firstly, update your profile picture, add your banks details and Add a Naira debit card to your account.
- From the Account Types on your dashboard (Main savings and Mission Savings which pays 10% interest per annum, Investment/Fixed savings which pays 15% interest per annum, kindly select the account that best serves your savings goal. You will need to activate the AutoSave feature, which will help you to automatically save either daily, weekly or monthly. so, to do this;
- For either Main or Mission savings account, enter the date, amount you want to save and the Frequency of the debit to your Sumobank account.
- If you get this correctly, your Autosave will become active you’re your card will automatically be charged either daily, weekly or monthly depending on the preference you choose.
There is also an InstantSave feature on Sumotrust that allows you to quickly save any accidental or spare cash that you got.
Did your parents just sent you money or you carried out some deals and made extra cash that you don’t want to spend? The InstantSave feature will enable you to save the money for an interest return.
Related: Top 6 online savings platform in Nigeria
Nigeria education savings account and education savings plan have all been made easier by Sumobtrust.
You can visit Sumotrust Frequently asked questions page for more details.
Conclusion
The concept of saving money as a college student which most people barely talk about is still a big problem that needs to be addressed. The best you can do for yourself no matter how rich or guarantee you feel life after school will be is to embrace the healthy personal finance culture of saving money in University, you will be shocked at the amount of money you must have saved up in 4 years if you start saving from 100 Level.
However, it’s not late even if you’re in finals. If your saving culture if good, You might qualify to get a loan from Sumotrust to support your life Afterschool.
On this, I think the issue of finding the best ways to save money as a student in Nigeria is no longer a problem.
Even if your goal is not to save after school, this is still the best way to save money for college goals like Shopping, holiday balling, travel, etc.
Let me know your thought in the comment section.
