A married woman once told me she has different friends for different purposes. In her friend circle, she has a financial advisor, a therapist and counsellor, a prayer partner, an ideas buddy, a stress reliever/ comedian and a “chop life” hype woman. Occasionally, they all gather to enjoy each other’s company and talk about money moves they need to know to up their game financially.

To further strengthen their bond, they save together every month to help each other attain financial independence. Bulk savings usually come in handy and it is very helpful, she said.

She strongly recommends group savings because it has helped herself and her friends to achieve everything they’ve set their mind to, individually and collectively. So I asked her “Why group savings?”

And she shared a few reasons;

1. Shared goals equals shared success: She explained that not all of her friends are good at savings and committed to it. The collective effort makes it easier to stay motivated and committed. when a friend hits a goal as a result of the financial cushion our group savings gave her, everyone’s happy.

2. Accountability: Ever notice how it’s easy to stick to your workout routine when you have a gym buddy? She asked. The same principle applies to saving money. In a group , members hold each other accountable, ensuring everyone stays on track.

3. Access to larger funds: One of the most significant advantages of group savings is the access to a lump sum of money. when it’s your turn to receive the pooled amount. This access provides financial boost without needing to take out high-interest loans.

Wondering how to start your group savings?

1. Find your tribe: There’s no better set of people to save money with than those who want to see you soar. Speak to them about starting a group savings and the benefits, then get started.

2. Download the BucksTrybe App: We are your group savings buddy for seamless and easy group contribution. As you save with others, you can build your creditworthiness with BucksTrybe.

3. Set your goals: After downloading the app and getting yourself acquitted with your new group savings bestie, don’t forget to set the goal for the savings.

4. Ensure regular communication: Stay connected by communicating with your group throughout your saving period. Having regular touch points makes saving together easy.

The fact is that group savings harness the power of collective effort to help individuals reach their financial goals more effectively. it’s a money move that brings financial case. Don’t let fear or worry hold you back from enjoying group savings. That’s why there’s BucksTrybe. Download the app here