Rent is not an emergency.
From the day you paid your first rent, you should know that in the next 12 months you'll renew your rent.
If you're always falling behind on paying your rent, let me show you a simple strategy you can apply to your finances to make paying rent easy for you.
If you do what I'm about to show you now, you'll never get stranded because you're low on cash when your next rent is due.
In fact, you'll pay your rent with ease and with peace of mind.
Step 1: Write Down Your Rent
Pick a piece of paper and write down how much you pay as rent annually.
Don't think it in your head, write it down.
Is it ₦100,000, is it ₦300,000 or is it ₦1,000,000?
Know your own figure and write it down.
Step 2: Divide The Amount By 12 Months.
Let's say your rent is ₦300,000, divide it by 12 months.
₦300,000 ÷ 12 = ₦25,000.
Step 3: Divide The Amount In Step 2 Above By 4 Weeks
We have 4 weeks in a month.
₦25,000 ÷ 4 = ₦6,250
Again, use your own numbers.
Step 4: Divide The Amount in Step 3 Above By 7 Days
Why are you doing this?
Because there are 7 days in a week.
So ₦6,250 ÷ 7 = ₦893 (Approximately)
Make sure you do this exercise using your annual rent.
Step 5: Download A Fintech Savings Apps
There are many fintech savings apps out there.
But if you need my personal recommendation, you can go with Cowrywise.
After you download it, sign up for an account and verify your account.
Step 6: Choose A Savings Frequency
Looking at the amount you're paying for rent, how often can you save up for it.
So using our example of ₦300,000 which amount can you save easily to hit your rent target?
You can save ₦25,000 monthly.
You can save ₦6,250 weekly.
You can save ₦893 daily.
Just pick one that will be easy for you.
Step 7: Start Saving
Yes, if you want to make paying rent easy for you, save the money ahead.
That way, you don't have to start running up and down looking for how to raise your rent when it's due.
Don't say you can't save because the income is not enough.
Savings is never about your income, it's about your mindset.
You don't even have to save manually on the app.
Let's say you want to save ₦893 by 8pm daily, once it's 8pm, the money will automatically be deducted from your account by Cowrywise.
Least I forget, the good thing about using a fintech savings app to save is that you get paid interest on your savings at the end of your savings circle.
It's better than saving your money in a traditional savings bank account where bank charges and inflation will eat it up.
Don't just read this post, make sure you implement.
Feel free to also share this post too so more people can learn.
Rent is not an emergency.
From the day you paid your first rent, you should know that in the next 12 months you'll renew your rent.
If you're always falling behind on paying your rent, let me show you a simple strategy you can apply to your finances to make paying rent easy for you.
If you do what I'm about to show you now, you'll never get stranded because you're low on cash when your next rent is due.
In fact, you'll pay your rent with ease and with peace of mind.
✅ Step 1: Write Down Your Rent
Pick a piece of paper and write down how much you pay as rent annually.
Don't think it in your head, write it down.
Is it ₦100,000, is it ₦300,000 or is it ₦1,000,000?
Know your own figure and write it down.
✅ Step 2: Divide The Amount By 12 Months.
Let's say your rent is ₦300,000, divide it by 12 months.
₦300,000 ÷ 12 = ₦25,000.
✅ Step 3: Divide The Amount In Step 2 Above By 4 Weeks
We have 4 weeks in a month.
₦25,000 ÷ 4 = ₦6,250
Again, use your own numbers.
✅ Step 4: Divide The Amount in Step 3 Above By 7 Days
Why are you doing this?
Because there are 7 days in a week.
So ₦6,250 ÷ 7 = ₦893 (Approximately)
Make sure you do this exercise using your annual rent.
✅ Step 5: Download A Fintech Savings Apps
There are many fintech savings apps out there.
But if you need my personal recommendation, you can go with Cowrywise.
After you download it, sign up for an account and verify your account.
✅ Step 6: Choose A Savings Frequency
Looking at the amount you're paying for rent, how often can you save up for it.
So using our example of ₦300,000 which amount can you save easily to hit your rent target?
You can save ₦25,000 monthly.
You can save ₦6,250 weekly.
You can save ₦893 daily.
Just pick one that will be easy for you.
✅ Step 7: Start Saving
Yes, if you want to make paying rent easy for you, save the money ahead.
That way, you don't have to start running up and down looking for how to raise your rent when it's due.
Don't say you can't save because the income is not enough.
Savings is never about your income, it's about your mindset.
You don't even have to save manually on the app.
Let's say you want to save ₦893 by 8pm daily, once it's 8pm, the money will automatically be deducted from your account by Cowrywise.
Least I forget, the good thing about using a fintech savings app to save is that you get paid interest on your savings at the end of your savings circle.
It's better than saving your money in a traditional savings bank account where bank charges and inflation will eat it up.
Don't just read this post, make sure you implement.
Feel free to also share this post too so more people can learn.
English
Arabic
French
Spanish
Portuguese
Deutsch
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek