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RUGERO SACCOGisagara
Illustration: Learning how to plan money

MONEY GUIDES

Good decisions start with understanding.

Short, practical guides for planning everyday money.

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Illustration: Learning how to plan moneyRugero

Start with a habit you can keep.

  1. 01

    Write down your money

    Record income and spending over the same period. Separate needs from wants.

  2. 02

    Choose one goal

    Name the amount you need and the date you need it. Use the savings tool to break it into months.

  3. 03

    Review your plan

    Check the plan each month and adjust when your income or expenses change.

Illustration: Learning and sharing knowledge
Illustration: Learning and sharing knowledgeRugero

Understand the cost of borrowing.

Interest is only one part of borrowing costs. Ask about application charges, insurance, collateral costs, penalties and early-repayment terms. Compare the total amount payable and the repayment timing.

Explore a repayment estimate

Put your plan into practice.

Money terms, made useful.

Cash flow and business profit

A sale on credit can count towards sales while the cash has not arrived. Track when customers pay you and when your own bills fall due.

Emergency savings

Money set aside for unexpected needs. Choose a target that fits household essentials and income, and consider how you would access it when needed.

Interest on a reducing balance

Interest is calculated on the outstanding principal. Ask whether the quoted rate is annual or monthly and request a repayment schedule.

Total amount payable

Look at principal, interest and other applicable charges. Ask which costs are excluded, rather than comparing the interest rate alone.

Use the comparison questions