{"id":5785,"date":"2021-08-13T11:16:34","date_gmt":"2021-08-13T10:16:34","guid":{"rendered":"https:\/\/cowrywise.com\/blog\/?p=5785"},"modified":"2023-12-13T19:22:39","modified_gmt":"2023-12-13T18:22:39","slug":"emotional-bond-over-money","status":"publish","type":"post","link":"https:\/\/cowrywise.com\/blog\/emotional-bond-over-money\/","title":{"rendered":"Money Duo \u2014 An Emotional Bond Over Money"},"content":{"rendered":"\n

>> Go to the updated version of Money Duo<\/strong>: Money Duo 2.0<\/a><\/p>\n\n\n\n

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\u201c…and Nonso from Cowrywise said<\/a>, \u2018Let there be an opportunity for couples to bond over money’ and there was Money Duo.\u201d<\/p>\n<\/blockquote>\n\n\n\n

In Early 2021, we built a private savings challenge<\/a> for couples to save and build wealth together. The goal was to allow individuals to set up intimate money challenges with someone special to them, without compromising personal savings and investments. <\/p>\n\n\n\n

Money Duo promotes accountability between partners while allowing them to be financially vulnerable to each other\u2014a fundamental yet scarce trait in today\u2019s world. At the same time, the plan doesn\u2019t neglect humans’ natural desire for privacy and control over their money; you get a say on your savings as well as the opportunity to create private savings accounts. With Money Duo, you can eat your cake and have it.<\/p>\n\n\n\n

In February, a month associated with lovers at home and abroad, we strategically launched Money Duo to the public. The impact of the plan on relationships so far cannot be overemphasised.<\/p>\n\n\n\n

\u201cThe journey so far has been great as it has brought out a healthy competition between us seeking to outdo each other.\u201d <\/em>– Adegboyega

\u201cThe journey has been exciting and competitive, particularly when I wake up in the morning of the 15th and see he has already topped up the duo, I will then immediately top up with twice the amount so as to take the lead.\u201d <\/em>– Tobiloba<\/p>\n\n\n\n

Adegboyega and Tobiloba are partners taking full advantage of the Money Duo circle. Placing healthy competition at the core, they keep encouraging each other to save more every month\u2014a goal that Money Duo was made to achieve.
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Why Money Duo?<\/h2>\n\n\n\n

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We interviewed three couples who have been actively involved in the private savings journey and have made it to the top of our current rank table. Their words highlighted their unique experiences with the private savings challenge and how well they\u2019ve been able to bond over money.<\/p>\n\n\n\n

\u201cAt the beginning of the year, we were planning to start with joint savings. We went to the bank but the process was long and the requirements were a lot. About a week after, we got a notification from Cowrywise\u2026and at the end of February, we started.\u201d
– Zita<\/h3>\n\n\n\n


Money Duo makes you skip the complex and overwhelming processes associated with joint savings at the banks. The only requirement is that both of you have a Cowrywise account and you can start saving together. Here, you skip long forms, and avoid tiring queues\u2014just pick up your phones and start saving together.<\/p>\n\n\n\n

\u201cI just saw it (Money Duo). I sent the request to two people; him (partner) and my female friend\u201d – Esther<\/h3>\n\n\n\n

Although Money Duo was built for couples, it has its core centred around love. Love transcends romantic relationships; it hovers around family members and platonic friends. You are not limited to saving with your partners, you can save with your sibling or a friend close to your heart. <\/p>\n\n\n\n

\u201cI just thought it was a good idea to have a joint savings\u201d – Yomi<\/h3>\n\n\n\n

Yes, Yomi is 100% right! It is a good idea to have a joint savings account. Hacking money growth and wealth management with your partner is vital for any relationship.<\/p>\n\n\n\n

More questions on your mind?<\/h2>\n\n\n\n

We’ve got you covered. We’ve answered questions you probably have on your mind, find them below.<\/p>\n\n\n\n

Is Money Duo a locked plan?<\/strong><\/p>\n\n\n\n

No. We want you to build a saving habit consistently without looking forward to a fixed date. Save together for different goals, short and long term without the fear of a locked-in period.<\/p>\n\n\n\n

Can both of us save different amounts?<\/strong><\/p>\n\n\n\n

Absolutely. Each person sets their preferred amount and it will be deducted automatically from your selected account on your agreed savings date. You can also top up your Money Duo plan manually(with any amount) with your debit card, Stash or a bank transfer.<\/p>\n\n\n\n

It’s difficult to trust people with my money. So, I\u2019m not sure what to do.<\/strong><\/p>\n\n\n\n

If you\u2019re in this position, we definitely considered your concerns while building Money Duo. While you save with your partner or friend, you alone have access to your money. The other party cannot withdraw your money at any point. Each person withdraws the amount they need into their Stash, up to the amount they have saved.<\/p>\n\n\n\n

Do interest rates apply to Money Duo plans?<\/strong><\/p>\n\n\n\n

Yes! On Cowrywise, as long as your money is in a plan, it grows.<\/p>\n\n\n\n

Feel convinced yet? Then start saving with someone special today. <\/p>\n\n\n\n

If there are other questions you have that I\u2019ve not answered, feel free to use the comment box, answers will be provided to them at once.<\/p>\n\n\n\n

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Want to see what our couples said first-hand in their interviews? Watch the video below.<\/p>\n\n\n\n

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