Piggy Bank | A Highly Overlooked Way of Raising Bulk Capital

by Muobo
42 views
Spread the love

For some, I gave what I could, while for one or two, I politely declined, knowing any money given would likely turn out to be a bad debt.

Now, while I gave of my widow’s mite, my mind went to the few ways one can raise needed cash or capital for a pressing need within a time frame and one of these ways that just refused to go off my mind is the piggy bank savings method.

Now a lot of people underplay the power of this seemingly crude method that puts bulky cash in your pocket, especially when you need it the most. To most, a piggy bank is met for kids and should be left at that.

I put this idea across to a friend and her response was a laugh, just as I expected. She then went further to state how nearly impossible it would be to save any reasonable amount of money in a piggy bank.

However, since I believe so much in this idea, I had to dig up a few stories of people who saved substantial amounts from a piggy bank over a period of time.

Read Also: 7 Places You Can Get Start-up Fundings for Your Business

Lady Who Saved Her House Rent in a Piggy bank

Here is one of such cases.

This is the story of a man whose wife saved 147,000 naira ($408) , the exact amount needed for their house rent.

As the story goes, the couple’s rent expired and, but for the wife’s shrewdness and timely intervention, they would have lost their accommodation as their rent was due to be serviced.

Here is Another Lady Who Saved a Substantial Amount in a Piggy Bank

Another lady, pictured here also adopted this easy way of saving and was able to save up 489,500 ($1,360) in a little over a year.

These stories are inspiring and make you come to realize that the piggy bank is not such an inconsequential item like most people believe.

However, for you to record any success with the piggy bank saving if you do plan on adopting it, here are.

Piggy bank

Some Qualities You Wound Need to Possess

You Must be Discplined

It take discipline to start a project as this and see it through. A lack of discipline will see you cracking open the safe whenever you run into any financial difficulties, thereby defeating the entire purpose.

Read Also4 Best Jobs for Busy Moms

You Should Have a Prior Saving Habit

You should be someone who saves or again, you’ll most likely abandons the project halfway.

You Must Set Aside Money Regularly

You must decide on the denomination to save and keep at it regularly or you’d achieve nothing or next to nothing at the end of the day.

There you have it, a simple yet very effective way to save or come up with needed capital for that business idea, project, or family emergency that suddenly comes up.

Read More

6 Tips to Make Transitioning to a Side Business Interesting

Top Businesses You Can Start with 30,000 Naira or Less

You may also like

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.