7 Ways To Start Planning For Rainy Days In 2020

ARM Mutual Fund | Inside Life
January 20, 2020

Look, there’s no shame here: Detty December did all of us dirty. From parte after parte to debit after debit. Some of us even touched our life savings all because we wanted to press necks and pepper our enemies. But now we have learnt our lessons and are sober. But what’s the way forward?

We are here to show you how to create a savings habit, save for the future and win #DettyDecember whenever it rears its ugly head again.

kevin durant were gonna save dat money GIF by Lil Dicky

1. 2020 has 12 month and 366 days. What are you waiting for if you’ve not drawn up your savings plan?

90 Day Fiance Cash GIF by TLC

Every body needs some spare cash aside for rainy days, hot days, and all the other kinds of days we have in Nigeria. You can achieve this by creating a savings plan which helps you figure out how much to set aside each day, week or month. The savings plan will also help you prepare for personal projects like buying a house, buying that benz you’ve been shouting about, lol, changing your laptop or starting a business.

2. Learn how to spend only on necessities.

Leah Remini Budget GIF by TV Land

Ask yourself, “Do I really need this item?” and then give yourself a very honest answer. Turns out half the time, we don’t need those things, we just want them.

3. Reduce the amount of times you eat out.

valentine's day love GIF by Rewire.org

Not every time go out. Sometimes remember that there’s rice at home. We suggest you limit this to days when you’re celebrating something important. You could even use this opportunity to build your culinary skills and change your Twitter bio to Chef.

4. Stop buying impulsively.

season 6 GIF by SpongeBob SquarePants

Yes, those shoes are beautiful. But you have a future to save for, so put it down. You will not die. Nothing will happen to you if you stick to your shopping list and follow it word for word.

5. Do you have enough money to take yourself on a vacation?

beach day singing GIF by Walt Disney Animation Studios

Yup, we went there. Every year “summer body”, but do you have money to travel for summer? Cape Verde, Dubai, Hawaii… your mates are travelling there, but your account balance can only take you to Orile Agege. Isn’t it time for you to see the world? If you put a certain amount of money away every month, starting now, you’ll probably be rich enough to travel on vacation.

6. Track your spendings

taxes calculator GIF by truTV’s Those Who Can’t

In other words, learn how to be accountable. Take note of how much you spent on a particular thing, how much you spend in a day, a week, a month. That way, you’ll be able to cut out unnecessary expenses.

7. Invest 

rickey smiley money GIF by TV One

Investments are a sure and better way to save more cash especially because you earn when you invest. More returns for your money means you have more cash in your account. Goals!

Ready to start saving for the rainy day? Then you should consider ARM Mutual Funds. ARM Mutual funds has amazing packages to fit your savings goal.

ARM offers a higher interest rate on your savings than a traditional savings account. And it doesn’t have to be long term. With competitive interest rates, regular tax free returns and expert fund management, it has to be the coolest thing on the market. Visit the ARM investment center to get started immediately.

Sponsored by
ARM Mutual Fund

Join The Conversation

Bring a friend.

You'll like this

February 18, 2021

A lot of people swear that Abuja has a lot of things going for it. I mean, it should — it’s the nation’s capital. That’s a decent claim to fame too. I was curious about how money moves in the city, so I asked 7 people living there to talk about their expenses. 1. Patrick, […]

Watch

Now on Zikoko

Recommended Quizzes

December 29, 2021

A new year is right around the corner. Before we go into 2022, enjoy some of our top quizzes from this year. 1. QUIZ: Only Nigerian Gen Z’ers Can Make It To The End Of This Musicians Quiz Forget about your age. If you can make it to the end of this quiz, you’re definitely […]

December 3, 2019

Are you a professional Yoruba demon? Are you walking around in search of whose life you can wreck at any given time? Well, this quiz knows exactly how many hearts you’ve shattered to date, and before you lie that your result is inaccurate, just remember that Zikoko is never wrong. Now, take it and be […]

October 29, 2019

We are going to be attempting to guess when you’ll marry based on your favourite Nigerian foods. What does your fave swallow have to do with when you’ll tie the knot? Please, don’t ask complicated questions. This quiz is rigorous and accurate (don’t quote us), so just take it already. QUIZ: Why Do You Have […]

November 11, 2019

Everyone has something to say about what kind of person they are. But how well do we truthfully evaluate these things? Not that much, I can assure you. The average person is always lying to themselves to make sure they look good. But you know what and who doesn’t lie? Zikoko quizzes that’s what. Take […]

April 3, 2020

While the rest of the world loves to treat our continent like a country, there are actually 54 African countries. So, in a bid to test your knowledge (and educate you), we’ve created a quiz to see how many of their capitals you can correctly name. Go ahead:

More from Inside Life

Watch

Trending Videos

Zikoko Originals

December 14, 2020
What happens when a group of chatty young Nigerians talk about things they're passionate about? You get Nigerians talk. A show that discusses very familiar struggles for the average Nigerian. From relationship deal breakers to sex education with Nigerian parents to leaving Nigeria, be prepared for a ride.
November 2, 2020
'The Couch' is a Zikoko series featuring real life stories from anonymous people.
October 26, 2020
A collection of videos documenting some of the events of the EndSARS protests.
June 22, 2020
'The Couch' is a Zikoko series featuring real life stories from anonymous people.
June 22, 2020
Hacked is an interesting new series by Zikoko made up of fictional but hilarious chat conversations.
June 4, 2020
What happens when a group of chatty young Nigerians talk about things they're passionate about? You get Nigerians talk. A show that discusses very familiar struggles for the average Nigerian. From relationship deal breakers to sex education with Nigerian parents to leaving Nigeria, be prepared for a ride.
June 2, 2020
Quickie is a video series where everyone featured gets only one minute to rant, review or do absolutely anything.
May 14, 2020
Isolation Diary is a Zikoko series that showcases what isolation is like for one young Nigerian working from home due to the Coronavirus pandemic.
March 12, 2020
Life is already hard. Deciding where to eat and get the best lifestyle experiences, isn't something you should stress about. Let VRSUS do that for you.

Z! Stacks

Here's a rabbit hole of stories to lose yourself in:

Zikoko amplifies African youth culture by curating and creating smart and joyful content for young Africans and the world.
X