Ajo/ Esusu/ Adashe saving scheme is one of the best ways to save money in your 20s, 30s, and beyond. Rotating Savings not only provides access to early cash and micro-credit but also instills the saving habit in every social class and age group. But because of its popularity, there are some misconceptions about how it works (and what you should do with it). So here are three reasons why a thrift contribution saving scheme still has value today:
Automated savings is a great way to save for the future. If you don’t put money aside, you will never have enough. You can use this money saved for emergencies, paying off debts, or kickstart/Launch new projects and ideas.
The most important thing is that it helps you save more than just once every few weeks or months—it helps build up your savings over time!
Access to Micro-Credit
Sometimes while saving towards a goal, after all the target has been set and all expenses cut short, it seems impossible to meet up and there might be a need for a micro-credit. Ajo with AjoMoney helps you achieve this at no interest rate. Micro-credit with AjoMoney isn’t a loan and you must have saved consistently for up to 6 months.
With an Ajo saving scheme, you can save for the future and access funds before maturity.
With an Ajo saving scheme, you can save for the future and access funds before maturity. You don’t need to put in a lot of money to start with; it’s as simple as depositing a small amount every month into your ajo group, picking a number, and packing the lump sum when it’s your turn.
You can use these savings to pay off any debts (such as mortgage repayments or loan repayments), or even invest in stocks and shares! It’s up to you how much money is required when starting out on this journey; but once started, there will be no restrictions on what type of investments are made with these funds.
The point is this: With an Ajo scheme, you can save for the future and access funds before the maturity date. If you’re looking to establish a new financial goal, then think about rotating savings!