Perks of Long Term Delayed Gratification.

“I am a very disciplined person” are easy words to utter when faced with easy tasks like saving money for a week towards getting a shoe or not hitting snooze on your alarm clock the second time it goes off. At the beginning of the year, the goal was to save 1000 naira daily in my makeshift piggy bank till the end of the year. Today is day 228 which means there should be 228,000 naira there but *breaks open piggy bank* *sees cobwebs and loose change*, that’s not the case.

There are various problems with that sketchy savings resolution. Apart from the nearness of the money saved to me, the discipline to ensure my daily target is carried out wasn’t factored as I thought it’d be easy. Having access to your money within your reach wasn’t a bright idea and it’s also accessible to burglars if it comes to that. Excuses are easy to make when strict savings measures aren’t taken and you find yourself waiting for a new year or month to start saving again. This is why long term deposits are good for the undisciplined saver as you don’t have easy access to your money anytime you need it and are forced to make do with what money you have left after deducting your savings from it.

If your mind is running wild at all the bank charges and the low interest rates attached to having a long term deposit account with most banks, you have the option of saving with piggybank.ng. Piggybank.ng allows you save little amounts of money over a long period of time. You set your target and the amount to be deducted either weekly, daily or monthly at a great interest rate without having to worry about monthly charges, withdrawal fees and deposit fees. Also, your money is secured and insured in case of any emergencies. So give this some thought and commit to it. Get the ability to resist the temptation of short term savings for an immediate reward and push for long term savings for a later, bigger reward.

Have a lovely Monday.

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