Life is so unpredictable that one moment you have enough funds that you can afford all your bills, and the next moment you are looking like you have never had cash before, and you are scrambling all you have just to make ends meet.
That's why building an emergency fund for me is just like having a financial superhero that swoops in to save the day, hehehe.So making plans for emergency funds has helped me a lot of times. I have had times where I was very broke and there wasn't money in my bank account. I usually run to the different places I usually save for emergency funds, and different financial apps have really helped me to diversify and achieve this because I couldn't do it on my own.
Here are some apps that have helped me plan emergency funds.
Cowrywise
I have been using this app for close to five years, and it has been a lot of help to me. I have been able to save a lot of money using this app. What I usually do is I lock away my savings by automating it with a fixed date that it will be debiting my account from, and until the maturity date I wouldn't be able to access the funds there, which for me has an advantage and a disadvantage. For instance, I had an emergency need for money sometime in the month of October, but I couldn't access it, so I was stuck until the maturity date I set.
PalmPay
It is another app I use; I started using this app this year. I mostly use it to invest in mutual funds, and it has really been of great help to me, so I usually save small portions of funds here, and I have earned modest returns from them.
My savings are not just limited to just this app. On my OPay app, I enabled their spend and save option, so whenever I make transactions, 10% of that amount would be saved. This has helped me on several occasions. Most times, I am usually surprised by the amount that has been saved by the end of the month, like, "I can't believe I actually spent that huge amount of money."
Spreading my savings in different apps has given me flexibility, and diversifying in these different apps has been fun and helpful.
THANK YOU FOR READING TO THE END 🤗