Managing your money most times feels like a full-time job and can be overwhelming since you must learn some budgeting, saving, investing, while trying to stay financially shrewd.

But what if I told you that growing your money doesn’t have to be so taxing? You can effortlessly set up systems and use correct financial tools to make your money work for you.

In this article, we will vividly outline the smarter and simpler strategies you can use to build wealth passively without breaking a sweat.

We will focus on trusted investment tips and accessible financial products from NCBA Bank, one of East Africa’s leading banks known for its innovative and customer-focused solutions.

Why Grow Your Money?

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Growing your money is not just a feel-good but is about beating the ever-increasing cost of living, building financial freedom and creating a safety net more efficiently and effortlessly.

Let’s dive into this important topic:

1. Automated Savings

The initial step you can take in the journey to grow your money is to save, and you can make it more intentional by automating your savings so that you do not have to worry about it.

Solution: Standing Orders & Auto-Save

NCBA Bank allows you to set up standing orders from your primary account to a savings or investment account and lets you select the amount and frequency then sit back and relax.

A hint I can throw your way to help with this step is to consider starting with at least 10 per cent of your monthly income then increase it over time to meet your long-term saving goals.

2. Money Market Fund or High-Yield Savings

Your typical savings accounts offer you little paltry interest hence you should consider putting your savings in a Money Market Fund or High-Yield account and earn better returns.

Solution: NCBA Money Market Fund

NCBA Money Market Fund (MMF) is managed by NCBA Investment Bank and offers you a superb way to earn higher returns than usual savings account and maintains fairly low risk.

MMF grows your cash passively and is best for short to medium-term goals or emergency funds while offering competitive daily interest accrual, easy access and withdrawal, and capital preservation.

If you reinvest your returns you can enjoy the compound interest that NCBA Bank offers on the MMF and is one of the most powerful wealth-growing tools available in the sector.

3. Diverse Investment Portfolios

To become a better investor, instead of risking by putting all your eggs in one basket, diversify your portfolio to spread your risks and boost your chances of long-term success.

Solution: Wealth Management Services

NCBA offers Wealth and Investment Management solutions tailored to match the goals and risk appetites of individual and corporate customers based on their personalized portfolio.

This NCBA Bank investment option allows you to invest in bonds and fixed income securities, equities, Real Estate Investment Trusts (REITs), unit trusts and mutual funds.

With this option, the NCBA Bank apply their team of wealth advisors to handle the heavy lifting for you hence assist you to grow your investment and assets with minimum stress.

4. Fixed Deposits

If you are a cautious investor (risk-averse) or just looking to balance your mix of investment, fixed deposits can be a brilliant option as it offers guaranteed returns with almost no risk.

Solution: Fixed Deposit Accounts

NCBA Bank allows you to lock in funds for a specified period, stereotypically 3, 6, or 12 months, through Fixed Deposit Accounts that will earn you higher interest rates.

This offers guaranteed principal and interest, flexible deposit terms, and competitive rates, and you can split your fixed deposits to different maturity periods to maintain liquidity while still earning returns.

5. Track and Optimize Spending with Digital Banking Tools

You cannot manage your funds without measuring your spending, and by tracking your spending you will have a clearer view to be able to save and invest more effectively.

Solution: NCBA Loop & Digital Banking

NCBA Loop is a digital banking platform which is designed for young professionals and digital-first customers.

NCBA Loop offers you real-time budgeting tools, spending analytics, goal setting, and instant savings transfers, enabling you to reduce unnecessary spending or reach your savings goals.

6. Investment Loans & Asset Financing

In the journey to grow your wealth, sometimes you will be forced to borrow strategically to invest in a business or appreciating assets like real estate.

Solution: Personal and Business Investment Loans

NCBA Bank offers you tailor-made financing solutions to assist you to boldly pursue that various available opportunities that will build your wealth portfolio.

They include business expansion loans, real estate investment loans, vehicles or equipment asset financing, with NCBA’s advisory team helping to assess viability, structure repayment terms, and support your financial goals.

7. Invest in Financial Literacy

Even as you seek to passively grow your money, you cannot compromise on your financial literacy as the knowledge you amass on investment will enable you make better decisions.

Solution: Financial Education & Insights

NCBA publishes its financial reports and market insights regularly, and hosts webinars on investing, personal finance, and economic trends to help you stay ahead of other investors.

8. Protect Your Wealth

It’s one thing to build your wealth and another to protect it given a sudden illness, accident, or emergency can wipe out savings and investments you have worked on for many years.

Solution: Bancassurance Services

NCBA Bank provides a comprehensive suite of insurance solutions, which include:

• Life and health insurance

• Property and home cover

• Travel insurance

• Business protection plans

Additionally, you can bundle insurance with your banking products to offer you convenience and a peace of mind as you continue working on your financial goals.

9. Staying Consistent

In your investment journey, it is very important to start early and remain consistent, and you will watch the compound effect turn your small amounts into substantial wealth.

NCBA Bank offers a vast list of flexible investment products enabling you to start with what you have then scale up as you grow in your short-term and long-term investment journeys.

10. Financial Goals Clarity

The most important thing in growing your money effectively is knowing what you are working towards and goals give direction and help you choose the right investment vehicles.

For examples:

• Emergency fund: Money Market Fund or High-Yield Savings

• Home purchase (5 years): Fixed deposit + bonds

• Retirement (15+ years): Diversified portfolio with equities and REITs

• Travel fund: Loop savings goals + digital wallet

If you need assistance with mapping out your financial goals and aligning them with appropriate financial solutions, NCBA Bank will always offer you customer advisors.

In Conclusion

NCBA offers an all-inclusive ecosystem for savers and investors, from automated savings to wealth management, investment funds, and financial education making it easier to grow your money without breaking a sweat.

Growing your money only requires:

• A plan

• The right tools

• Smart products

• Consistency

To learn more about how to boldly grow your money, visit www.ncbagroup.com or walk into any NCBA branch across the country today and ask to speak to a financial advisor.