We are your trusted friend who goes beyond the provision of financial solutions. At the heart of our mission is to ensure your overall financial wellbeing.
Our accounts are designed to give you a helping hand to ensure you plan smarter and live better and provide you with the best financial solutions.
We help you plan for your short and medium-term commitments as well as emergencies. Saving money helps you achieve your goal.
Invest and co-own a growing financial institution. Secure your future through regular savings and investments.
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Companies pay their employees consistently, including hourly, daily, weekly, monthly, quarterly, or yearly. Budgeting is a healthy financial habit that can help you keep track of your expenses, encourage saving, and generally control your spending. Consistently budget your income since it helps you make better financial decisions, get out of unwanted debts, and focus on your long-term monetary goals at ease.
Living under the constraints of a budget is an essential component of suitable financial management;
It is essential to have a flexible and reasonable budget that you can follow every month. It gives you great confidence to tackle the new month’s salary. Moreso, you will have peace of mind knowing that your monthly spending is under the control of the budget plan. It significantly eradicates the ‘spend-and-hope’ approach, which represents spending without being cautious of the bank balance and hoping you have enough money after making payments.
A budget helps you maintain concrete short-term and long-term financial goals. It also enables you to be on track with your spending and be strict on your expenses as you work towards achieving these goals. Mindful spending, sticking to your budget, and saving your money will guarantee you the achievement of your monetary goals. From the wise words of Ayn Rand, “Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver”. So use money as a tool, spend it and save it wisely, and drive you towards achieving your financial goals.
A reasonable budget should keep you aware of timelines for debt repayments. Moreover, it should provide details on any additional money you have to go to a savings account or an occasional treat. Additionally, building a budget will automatically force you into controlled spending habits. When you notice bad spending habits, rethink and refocus on attaining your financial goals.
Emergencies tend to stretch out personal finances. Including an emergency fund in your monthly budget gives you financial peace of mind that will help you protect yourself from those ‘bad surprises.’ In addition, you will be at ease knowing that there are available funds for those unexpected needs. There are numerous forms of insurance, including medical insurance, motor vehicle insurance, business insurance, livestock insurance, and crop insurance, offered at Amica Savings & Credit to protect your financial wellness.
It is essential to set aside a portion of your monthly income for a retirement plan. Budgeting for retirement and future investment purposes will save you a great deal. In addition, you will avoid running out of money during your retirement period. Retirement planning helps you assess how much risk you can take, evaluate your anticipated rate of return, and evaluate how much you can safely withdraw from your monthly income after deduction of all expenses, savings, and incurred debts.
Budgeting is the most vital financial habit to take up since it will draw you closer to achieving your financial goals while avoiding bad debts that can be detrimental to your financial plans. If you want to advance in your financial life, create a budget and live by those principles within your budget.
Talk to us for more budgeting tips and advice on the best investment and saving products that fit your financial goals.
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Telephone: +254 729 333 444/ 0111 026 100
SMS Code: 20298
Email: hello@amicacs.co.ke
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