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Budding Butterfly to Fiery Fox: How to Ace Your Finances in 2022

3 Mins read

I can’t believe I’m typing “2022” in a sentence when I’m still mentally processing 2020. Well, I’m sure many of us feel the same way too. Last year went by so fast! The year 2021 has come to an inevitable end, and as expected, there are two types of people right now: the ones who already have a plan and strategy for this year 2022 and those who are not worried about their future.

Towards the end of last year, the Cowrywise RoundUp 2021 went live and we saw a lot of people share their badges across social media. A number of people showed off their much-coveted Fiery Fox badges, while some others echoed “God when?”

If you’d like to chill with the big boys this year by showing off your Fiery Fox badge, let me show you how to ace your finances this year. Here are 5 things you need to keep in mind:

Create long-term savings plans

Not only do long-term savings plans give you an opportunity to accumulate small amounts into huge sums over time while earning returns. They also help you build a habit of setting money aside at regular intervals. Over time, not only will you boost your savings score on Cowrywise, but you also build a personal savings habit. Win-win.

Create automated, regular top-ups

The icing on the cake of your long-term savings plan is automated savings. At the core of it, the difference between a Butterfly and Fox is the mindset and discipline. Why set up manual savings when you can just have it automated and use your time for other activities? It takes the hassle away from saving and instils a level of discipline that keeps you away from excuses. That’s the number one secret of the Fiery Fox.

Create an Emergency Fund

There’s no telling how important emergency funds are if you’re trying to build a healthy financial habit. Having emergency funds not only gives you access to funds in case of emergencies. There’s more to that. Having these funds makes it a lot easier for you to not tamper with your main savings for any reason. You know that feeling you get to “just withdraw part of it and replace it later”? Having an emergency fund helps you overcome it.

Get started on investments

If saving is a danfo, investing is a private jet. Okay, I might be exaggerating just a little bit, but I’m sure you get my drift. There’s a place for saving in wealth-building, but it’s a primary level. The entire point of saving is to accumulate funds that would be used for even bigger money moves. Nobody gets rich by saving only. If we lived in a fancy world where inflation and other economic factors didn’t exist, then maybe. But, in our current reality, investing is where it’s at. Cowrywise has a range of naira and dollar investment products suited for your risk appetite and even your lifestyle choices. Dear Budding Butterfly, start investing today.

Put your referral bonuses to work

In December, we announced that the referral bonus has been increased from 250 naira to 1,000 naira. Wow! We saw a lot of smart people take advantage of the opportunity and tell more of their friends about Cowrywise. The smarter ones went a step further. They reinvested their referral bonuses to yield even more returns on their investments – or used it to top up their existing savings plan.

In summary…

These are considerations you have to make if you’re trying to gift yourself a financial upgrade this year. At the end of this year, there would be a Cowrywise RoundUp 2022. Do you still want to remain at the spot you were last year? Or do you want to go a step or two further?

These apply to other badges too, not just the Budding Butterfly. If you’re trying to make a move from Macaw to Cougar or to Fiery Fox, this applies to you too. This year, let’s challenge ourselves to do even better than we did last year. Not just in our finances, but in every aspect of our lives. Remember, every 1% counts. I’m rooting for you!

Please share this post with a friend who is looking to build a healthier financial lifestyle this year. I’m sure they’d appreciate you looking out for them.

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