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5 Simple Ways To Create Savings From Income Savings

Published

2 years ago

August 28, 2024

Editor

Taking control of your finances is a crucial step towards achieving financial stability and security. With so many expenses competing for your attention, it’s easy to get caught up in a cycle of overspending and debt. However, by implementing a few simple yet effective strategies, you can break free from financial stress and start building a safety net for the future.

In this article, we’ll explore five essential tips to help you create savings from your income. By following these practical steps, you’ll be well on your way to building a secure financial future today.

– Create a budget : Create a detailed budget plan for the month. Your budget should include your expenditures for the month not excluding allocation for discretionary spending like entertainment and Emergency funds. This would enable you track your expenses regularly to ensure you don’t go beyond what you have allocated for the month. You can allocate 70% of your income toward your budget list to cover necessary expenses like rent, utilities and groceries as they are a part of life.

– Automate Your Savings : Set up automatic transfers from your checking account to your savings or investment accounts. This way, you’ll ensure that you save a fixed amount regularly, without having to think about it. You can allocate 20% of your income to this course.

– Establish your Financial priorities : it is very important to determine your financial priorities. This would enable you tend to the necessary obligations you might have. In establishing your financial priorities, you need to be specific in your financial goals . They should also be clearly stated out. This should help you stuck to your budget and save money.

– Eliminate your Debts : Debt can hold you back from achieving Financial stability. You can do this by allocating a specific percent of your income towards this course. Also avoid cumulating debt while eliminating the current one.

– Cut Unnecessary Expenses: Identify areas where you can cut back on unnecessary expenses, such as Cancelling subscription services you don’t use, being strategic in your eating habits , Reduce entertainment expenses , try to beat addictions like smoking . You can track your actual spending to be able to identify areas.

These tips would help you spend less and save more. Remember, saving is a long-term process. Start with small steps, and gradually increase your savings over time.
VANGUARD

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

47 minutes ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

1 hour ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

3 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.