How to Save Money Using PiggyVest: Simple Guide for Beginners

How to Save Money Using PiggyVest – Saving money can be hard, especially if you struggle with self-control, irregular income, or unexpected expenses. That’s why PiggyVest, a Nigerian fintech platform, has become popular. It helps you save automatically, safely, and consistently.

Instead of relying solely on willpower, PiggyVest provides tools that allow you to save smartly, earn interest, and stay disciplined.

In this guide, you will learn how to save money using PiggyVest, step by step, including:

• Setting up your account

• Using different savings plans

• Automating your savings

• Avoiding common mistakes

How to Save Money Using PiggyVest

Step 1: Sign Up for PiggyVest

1. Download the PiggyVest app from Google Play or Apple Store.

2. Tap Create Account.

3. Enter your email, create a password, and verify your email.

4. Add your personal information and bank details.

5. Complete identity verification for security.

Your account is now ready for saving.

Step 2: Secure Your Account

To protect your money:

• Set a strong password

• Enable transaction PIN

• Enable biometric login if available

• Keep login credentials private

PiggyVest uses bank-level security, but personal vigilance is key.

Step 3: Understand PiggyVest Savings Options

PiggyVest has four main saving features:

1. Piggybank – Automated savings for general purposes

2. Safelock – Locked savings with higher interest

3. Target Savings – Goal-oriented saving

4. Flex Naira – Flexible savings with easy withdrawals

Knowing these options helps you save smarter.

SEE THIS: Cowrywise Savings and Investment Guide Nigeria – How to Start

Step 4: Use Piggybank for Daily, Weekly, or Monthly Savings

Piggybank is perfect for beginners.

How to use Piggybank:

1. Go to Piggybank

2. Set your savings goal

3. Choose frequency (daily, weekly, monthly)

4. Set the amount

5. Enable auto-save

Best for:

• Emergency funds

• Small short-term goals

• Building a daily savings habit

Step 5: Use Safelock to Lock Funds and Earn Higher Interest

Safelock prevents withdrawals until your set date.

How to use Safelock:

1. Select Safelock

2. Enter the amount to lock

3. Choose duration (days, weeks, months)

4. Confirm and lock

Best for:

• Long-term goals like business capital

• Education fees

• Travel plans

Safelock removes temptation, ensuring disciplined saving.

Step 6: Use Target Savings for Goal-Specific Plans

Target Savings allows you to save for specific goals.

1. Select Target Savings

2. Name your goal (e.g., “Laptop”)

3. Set the target amount and deadline

4. Choose manual or automatic contributions

Best for: Weddings, travel, or personal projects.

Step 7: Use Flex Naira for Flexible Saving

Flex Naira is a flexible option:

• Earn interest while keeping access to funds

• Ideal for short-term or emergency savings

Tip: Use Flex Naira for money you might need quickly.

Step 8: Set Realistic Savings Amounts

Avoid setting amounts too high. Beginners should:

• Start small

• Increase gradually

• Stay consistent

• Match savings to income

Even saving ₦1,000 daily consistently beats inconsistent large deposits.

Step 9: Automate Your Savings

Automation is key to success.

• Set up auto-save

• Let PiggyVest deduct from your bank automatically

• Reduces the temptation to spend

This makes saving effortless.

Step 10: Monitor Your Progress

Track your progress to stay motivated:

• Total savings

• Interest earned

• Goals achieved

• Monthly contributions

PiggyVest provides visual progress trackers to help you stay engaged.

Step 11: Maximize Interest by Leaving Money Saved Longer

The longer your money stays in PiggyVest, the higher your interest:

• Avoid frequent withdrawals

• Use Safelock for long-term savings

• Reinvest matured savings

Patience pays off.

Step 12: Avoid Common Beginner Mistakes

• Treating PiggyVest like a spending wallet

• Breaking Safelock or Target savings too often

• Setting unrealistic goals

• Not automating savings

Discipline is the key to success.

Step 13: Combine PiggyVest With a Budget

PiggyVest works best alongside a personal budget:

• Income

• Expenses

• Savings

When savings are planned, PiggyVest becomes more effective.

Step 14: How PiggyVest Builds Financial Discipline

Using PiggyVest regularly helps you:

• Develop consistent saving habits

• Delay gratification

• Reduce financial stress

• Prepare for emergencies

• Build confidence managing money

Step 15: Set Savings Priorities Based on Your Needs

When saving money, not all goals are equal. Beginners often make the mistake of trying to save for everything at once, which can be overwhelming. Start by ranking your savings goals:

1. Emergency Fund – Your top priority. Unexpected expenses like medical bills or car repairs should be covered first.

2. Short-Term Goals – Goals within 6 months to a year, like buying a gadget or paying a school fee.

3. Medium to Long-Term Goals – Goals like business capital, travel, or higher education.

By focusing on priorities, you ensure your money works where it matters most and reduces the stress of trying to save for multiple things simultaneously. PiggyVest allows you to create different Piggybanks or Safelocks for each priority, keeping everything organized.

Step 16: Use PiggyVest Insights to Improve Your Saving Habits

PiggyVest provides insights into your savings behavior, including frequency of deposits, interest earned, and goal progress. Review these regularly to understand your habits:

• Are you meeting your savings targets?

• Are you saving more on certain days than others?

• Which goals are being achieved faster?

Use this data to adjust your saving strategy, perhaps by increasing your daily Piggybank contributions or locking more funds in Safelock for higher interest. Monitoring your progress turns saving from a passive activity into a powerful financial habit.

Step 17: Combine PiggyVest With Side Hustles

For beginners who feel their income is too small to save, PiggyVest can work best when combined with extra income streams. Even small side hustles can be directly allocated to your PiggyVest savings:

• Freelance work

• Selling products online

• Tutoring or consulting

By funneling side income straight into PiggyVest, you avoid the temptation to spend it and accelerate your savings growth.

Step 18: Celebrate Small Wins to Stay Motivated

Saving money can feel slow at first. Beginners often lose motivation if they don’t see progress. PiggyVest helps by showing your interest earned and goal completion percentage. Use these small wins as motivation:

• Celebrate reaching 25%, 50%, and 100% of your goal

• Reward yourself with small, affordable treats

• Share milestones with friends or family for accountability

This builds a positive relationship with money and makes saving a fun, consistent habit rather than a chore.

FAQs About PiggyVest

• Is PiggyVest Safe?

Yes. It uses bank-level security and regulated partnerships.

• Can I Withdraw Anytime?

Depends on the plan. Flex Naira allows withdrawals; Safelock does not until maturity.

• Who Can Use PiggyVest?

Anyone with a bank account or a steady income.

Conclusion

This is how to save money using PiggyVest is simple, secure, and smart. All you need to do today is start small, automate, lock funds when needed, and stay consistent. Your savings will grow over time, interest will accumulate, and you will develop financial discipline.

Remember: Saving is not about how much you earn but how well you manage what you earn.

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