When I first heard about PiggyVest, I thought it was just another savings platform. Like many young Nigerians, saving money wasn’t my strongest suit. I had the habit of spending impulsively, and whenever I saved, I’d find a reason to dip into it before the month ended. It wasn’t until I gave PiggyVest a try that I realized how much of an impact it would have on my financial habits. Today, I’m a firm believer in the platform and would recommend it to any young person looking to gain financial control.

How It All Began: My Financial Struggles

Growing up in Lagos, the constant hustle and bustle pushed me to start earning early. By the time I was in university, I was already running small gigs, from writing to graphic design. The problem was, I didn’t have a clear savings plan. Whenever I earned, I spent. Between hanging out with friends and buying the latest gadgets, my account balance was always lower than I wanted it to be.

A friend of mine, Dele, who had started saving for a business idea, recommended PiggyVest. He had been using it for a few months and couldn’t stop raving about how it helped him stick to his savings goals. At first, I was skeptical. I had tried saving on my own, and it never worked out. But after a couple of failed attempts to save for my dream camera, I decided to give PiggyVest a shot.

Why PiggyVest Worked for Me

PiggyVest is a digital savings and investment platform that allows users to automate their savings, helping them achieve financial goals without the constant temptation to spend. Here are a few reasons why it worked for me and why I believe it’s a game-changer for young Nigerians.

1. Automated Savings

One of the best features of PiggyVest is the ability to automate your savings. Once you set up an account, you can schedule automatic deposits from your bank account into your PiggyVest wallet. This feature removed the temptation of "forgetting" to save and allowed me to set it and forget it. I started by saving N1,000 weekly, and I didn’t even notice the amount leaving my account.

2. SafeLock: Saving Without Temptation

For someone like me who is prone to impulsive spending, SafeLock became my best friend. SafeLock allows you to lock away funds for a fixed period without access to it until the set date. I locked up N20,000 with a six-month SafeLock, which prevented me from accessing the money during that time. When the lock period ended, I had saved a tidy sum, and the best part? I couldn’t touch it before time, which gave me peace of mind.

3. Goal-Oriented Saving

PiggyVest allows users to create specific savings goals, whether it’s saving for a new phone, a vacation, or starting a business. I created a goal called "Camera Purchase" and set an amount I needed to save over six months. Seeing that target helped me stay focused and disciplined. Each time I deposited money, I could see how much closer I was to my goal, which gave me the motivation to save more.

4. Earn Interest on Savings

Unlike traditional banks where you save money with very little interest, PiggyVest rewards savers with attractive interest rates. The interest rates are much higher than what I had earned saving in my regular bank account. Over time, I saw my savings grow not just by my deposits but also by the interest PiggyVest added to my balance. It felt like my money was working for me, which encouraged me to save even more.

5. Invest in Agriculture with Investify

PiggyVest isn’t just about saving. It also offers investment opportunities through a feature called Investify. With Investify, I was able to invest in agriculture with as little as N5,000. This investment opportunity was particularly exciting because it allowed me to grow my money without needing a large capital upfront. Over time, I began to see returns on my investment, which contributed to my savings.

Step-by-Step: How to Start Saving with PiggyVest

Download the PiggyVest App
The first step is to download the PiggyVest app on your smartphone from the Google Play Store or Apple App Store. The app is free, and registration takes just a few minutes.

Create Your Account
After downloading, sign up with your details, including your phone number, email address, and a password. You’ll need to verify your account before you can start saving.

Fund Your Wallet
PiggyVest allows you to fund your wallet through your bank account or debit card. Once your wallet is funded, you can begin to allocate funds towards your savings goals.

Set Up Automated Savings
To ensure consistent savings, set up an automated savings plan. Decide how much you want to save, and PiggyVest will automatically deduct that amount from your bank account at the intervals you choose (daily, weekly, or monthly).

Explore SafeLock
If you tend to spend impulsively, use the SafeLock feature to lock away funds. You can choose the lock period, and you won’t be able to access the funds until the lock duration is over.

Invest in Agriculture or Other Ventures
Through Investify, explore investment opportunities in agriculture or other ventures and earn a return on your investment.

My Honest Thoughts: The Pros and Cons of PiggyVest

Pros:

• Easy to Use: The app is user-friendly, even for people who aren’t tech-savvy.
• Automated Savings: This feature helped me maintain discipline in saving.
• SafeLock: Prevents impulsive spending by locking funds.
• High Interest Rates: PiggyVest offers better interest rates than traditional savings accounts.
• Investment Opportunities: The Investify feature allows for low-risk investment options with promising returns.

Cons:

• No Physical Bank Presence: PiggyVest is entirely online, which may not appeal to people who prefer traditional banking systems.
• Withdrawal Charges: Withdrawing funds outside of specific dates can come with minor fees.

Why I Recommend PiggyVest to Every Young Nigerian

As a young Nigerian, learning to manage money can be challenging, especially in a society that encourages spending. PiggyVest has been a game-changer for me, teaching me the importance of saving and investing. It has helped me achieve financial discipline, and it provides tools for anyone looking to save for future goals or invest wisely.

Whether you’re a student, a fresh graduate, or just starting your career, I highly recommend using PiggyVest. It’s easy to use, offers great returns, and, most importantly, encourages the habit of saving, which is vital for long-term financial stability.