Like every Investment expert would advise, it’s important to set aside funds for unexpected financial expenses that may come up in the near future. Emergency expense may be due to Car maintenance, Medical bills, Family upkeep or property damage amongst many others.
While Emergency funds are necessary, where the funds are held up is very vital to the availability of the fund when the need arises.
When selecting a platform to save your short term/ emergency funds, these are the major factors to put into consideration:
Extra returns: earning an income on your short term (idle) funds is now a thing to be considered. Money market instruments like the Abacus Money Market Fund and zSave (currently 4% per annum and interest paid monthly) avail you the opportunity to earn higher income on your short term funds. Unlike your regular savings account, the zSave allows you access your funds without the limitation of forfeiting your interest after a number of withdrawals within a month.
Safety of Funds: what’s the essence of a ‘safety net’ if it’s not safe? Putting your short term funds in high risk asset where capital is not guaranteed would be counter-productive if the eventual amount when accessing the fund is less than what was saved. Always find out about the underlying terms and conditions of a savings/investment plan and ensure it guarantees safety of fund (at least your principal). Ziing is powered by Investment One Financial Services Limited and Investment One is regulated by the Security and Exchange Commission (SEC).
Easy Access: having quick access to your funds when needed is non-negotiable. Why is it an emergency fund when you have to wait for a while to make use of your funds? On Ziing, you can access your funds in zSave and any of our mutual funds through the Ziing app? Subscription and redemption on the Ziing app is easy and instant (weekends and public holidays inclusive).
Need to Start Earning More on Your Short Term or Emergency Fund?
Download the Ziing app on Android | IOS or visit www.ziingit.com
Signup with your email and phone number
Navigate to zSave on thehomepage
Click on Fund and select your preferred mode of payment
And you are good to go!
For more information on Mutual funds and Ziing, please contact our customer care team via any of the following channels
