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Never Make This Money Mistake, Else, You’ll go Broke Like Charles

Gudtalent Chrisent



money mistake

What Kind of Saver are you?

Before you rush to answer this question, I would really want you to think very carefully.

It’s OK if ordinarily, you’re a natural saver. But will you look the other way should you notice your friend/sister/ brother isn’t?

Convincing to save isn’t easy; I know that. Especially when one is all head wrapped in the reason he spends. Ask him anytime, the reason he spends is justified so trust me no one blames you if you’re reluctant with your savings.

…it’s not your fault after all. No thanks to the use of bank mobile App, ATM cards and POS transactions for all kinds of purchases.

They’re lots of side distractions that can turn an objective saver to a careless saver; while few spend money on drinks, clubs, clothing, etc., mine is “BET”.

Yea! You heard me; bet.

It has been designed so beautifully in such a way that the thought of winning N1000000 with just N100 keeps me awake into the night.

I got so deep into bet that I spent half of my day on prediction sites studying football winning and keeping tracks of matches and their previous winning.

I had one strategy then, study 6-7 good clubs; understand their strengths and weaknesses and bet. Betting home win or away win (1/2) wasn’t really my thing.

…because although football can’t be predicted a times., I would rather play a safe game of Ov 1.5, Ov 2.5 (especially with strong teams like Barcelona, Olympiacos, PSG, Inter Milan, AC Roma and their likes) and 12 in at least 2 different ways than play home win, or away win.

It always worked for me. I won most of the times and loose few as well.

But like all gamblers; the desire to play and win more grew. I searched for bet/prediction channels on BBM; paid an unknown person to share a supposed fixed HT/FT game… and BOOM I started winning big!

The odds were high, the stakes were higher… although I loosed more than I bargained for, I couldn’t control what I was doing.

My account kept draining; (of course, my ATM was attached to my bet account so it was always easy to top up) and I was 110% very optimistic I will win back every single dime I’ve lost.

Even when my love for winning turned into greed and then desperation, I still couldn’t stop myself. Instead, I jumped from one bank to another until my total balance was N4000…

My eye became clearer…at this point I was broke!!!

I had an automatic brain reset when I went back to my dashboard and calculated my losses. But then, what can the son of man do but to start saving afresh?

It’s painful all those money gone, It’s painful there was no “digital savings tool like Sumobank” that could help restrict my withdrawal (3years ago), it’s painful everyone around me were gamblers too and no one could really stop us.

That was me; 3years ago. How about you today? What kind of saver are you?

– target driven saver

  • objective saver
  • or careless saver

Wouldn’t you prefer to save wisely?

Have you ever thought of building a betting shop from your winning? Have you ever considered splitting your winning and lock up one part (in order not to withdraw it) of it so as to earn 10-15% interest per annum?

Have you ever calculated the much bet shop owners make from your losses?

If you’re considering that; then start by

  1. creating a Sumobank account here
  2. attach your card,
  3. set a Mission, save and thank me later.

Learn from my mistakes and these are money mistakes to avoid in your 20s and 30s, don’t be like me!!!

Download the Sumobank App Google Play Store here.




Top 10 Online Savings Platforms In Nigeria 2020 With High Interest Rate

Gudtalent Chrisent



money-making businesses and online savings platforms

10 Best Online Savings Platforms In Nigeria That Pays Higher Interest Rates

The need for savings especially among young Nigerians who are left to fight their way to financial freedom through the little money they earn from various sources cannot be overemphasized. We all know that commercial banks are the most popular choices for savings aside contribution and thrift schemes that mostly go on in rural areas of Nigeria, although there are now online daily contribution platform that helps automate your savings process without having to incure the risk of giving a local daily contribution collector your money.

Even though the two major reasons of saving money in digital savings platforms in Nigeria is to raise some money over a savings period and earn interest in your money, Nigerian banks seem to perform poorly are regards to interest, infact, they take from customers.

These and some other reasons have led to the emergence of other digital savings platform in Nigeria that helps Nigerian savers to save money and earn high-interest rate than commercial banks.

According to a one-stop comprehensive reference for international financing and investment, — the interest rate for savings accounts in Nigeria can be up to 3.6% (as at June 2018). This is way much small when compared to how much interest rate banks charge for a loan which is as high as 19% and 22% for personal loans.

Read: 10 reasons why you must start saving

Even though the banks have other packages (Like fixed deposit) that offer higher interest rates, these 10 digital savings platforms mentioned in this article are dedicated to paying a higher interest rate on savings than banks.

Are you looking for

  • where to save money in Nigeria and get higher interest payout
  • how to manage and save money in Nigeria
  • best bank to save money in Nigeria
  • how to save money every month in Nigeria
  • how to save money from Salary in Nigeria
  • best digital savings platforms in Nigeria this year
  • best online savings platform in Nigeria

Then, this article if for you. Below are;

Top 10 Online Savings Platforms In Nigeria

  1. SumoTrust

Sumotrust savings and investment platform in nigeria

SumoTrust is an online savings platform that helps you save and invest money automatically. The platform is targeted to Nigerians and pays 10-15% interest Annually. Sumotrust as one of the best online savings platform in Nigeria comes with lots of interesting features.

One of the good features that made SumoTrust number one on this list is its high taste for customer’s account security. Even if your Sumotrust account gets hacked, the hacker won’t be able to change your bank details and withdraw your money, a KYC form will be needed to be submitted before the approval to change bank details can be given. Sumotrust as the best digital savings platform also uses a powerful blockchain security protocol to protect accounts that has it activated.

It is also on a quest to raise 1 Million African entrepreneurs in partnership with Entrepreneur Platform to access discounted-free Online Business Academy for its users and African business forum to collaborate and work with like minds in building better and sustainable businesses.

With Sumotrust, you also get access to various business leaders in different industries at discounted fees (for business consultations) to help you grow and scale your business.

Even though you can use Sumo Trust to save for any reason (Business, travel, school, emergency funds, school fees, shopping, property, etc) it’s core value is tailored to helping young Africans build wealth with little efforts.

Sign up and start saving with Sumo Bank at

  1. PiggyVest

piggyvest and sumotrust are secure savings platforms

PiggyVest just like Sumotrust is an online and mobile app savings platform poised to helped young Africans save money automatically. With PiggyVest, you enjoy flexibility savings which allow you to save daily, weekly or monthly. Users on PiggyVest can save towards a specific target or choose to place a withdrawal restriction on the account. There’s is a limit to the amount of money that can be saved on one’s account at a time.

On the PiggyVest digital savings platform, there is an allowance for 4 free-of-charge withdrawals annually which comes quarterly, (the last day of every quarter). You can as well choose your own free withdrawal dates and withdrawals outside these 4 days attracts a service charge of 5% withdrawal fee.

You can also use the Piggyvest app as one of the online investment platforms in Nigeria

  1. CowryWise

Cowrywise savings platform

CowryWise is another saving and investment platform that pays higher interest rates. You can also access loans on the CowryWise platform. A high saving score increases the chances of getting a loan on CowryWise. The online savings platform pays 10-15% Interest annually and it’s paid on a daily basis to you account.

  1. Alat

Alat by wema bank savings platform

ALAT by WEMA is the first fully digital banking experience, not only offers you basic banking services but also allows you to pay bills through the Alat platform. The bank’s debit card is delivered to the account holder’s address at no cost.

Note: Just like with traditional banks, ALAT charges you a monthly debit card maintenance fee.

Also, the interest of 4.2% is paid to a user on the condition that you do not withdraw more than 3 times a month. ALAT has some savings plans that offer up to 10% interest rate. One of it allows you to make withdrawal of 50% of your savings once in every 30 days while another doesn’t allow withdrawal.

Related: Best investment opportunities in Nigeria

  1. KoloPay

kolopay savings platform

The KoloPay Savings platform in Nigeria allows you to save money towards planned goals over a period of time. One remarkable feature with KoloPay is that you can’t withdraw some part of your savings, but can only withdraw the whole amount even before a goal’s due date.

The KoloPay platform allows you to share your savings goal with anyone (friends and family) and lets them help contribute to the achievement of the set target.

The KoloPay savings platform pays you 6% interest per annum.

6.  PayDay by ARM

PayDay savings platforms

PayDay by ARM allows you to create a savings goal and invests the fund on behalf of the savers in mutual funds account.

The online savings platform in Nigeria pays you 12.6% Interest rate. Minimum withdrawal is 1000 naira with a NEFT Withdrawal charges fee of ₦52.50.

You will need a debit card to fund your PayDay account, Investors attracts a 1% convenience charge from the card payment platform provider. The charge is capped at a maximum of ₦1,500

Related: Best investment banks in Nigeria

7. KudaBank

kudabank digital banking platform in nigeria

KudaBank (Formely KUDI Money) platform, is a digital banking platform for the free. they have savings-automation which is very convenient and accurate. Just like other savings platforms, yоu will also have to link your dеbіt account to your kuda bank account and set your savings plan ѕuсh аѕ daily, weekly or monthly. Once that has been done, Kudabank automatically deducts money from your bank account on the due date and сrеdіt your savings account оn аn interest rate that іѕ uр tо 10% per annum.

It is also secure and easy to use and can go a long way to help you put your spending under control.

There’s also a Kuda Bank Spend Account that works lіkе a current account which аllоwѕ you to withdraw аt аnу tіmе and there іѕ no minimum withdraw-able bаlаnсе.  But unlike your regular current account, уоu earn an interest оf 3% реr annum, accrued dаіlу оn your bаlаnсеѕ.

And about loan opportunity, Kudabank savings and spending account users are qualified tо enjoy low-interest loans.

Platforms supported: Android, iOS and Web

Intеrеѕt rаtе: Instant save – up to 25% interest per annum, Automatic savings – up to 10% per annum, Spending account – 3% per annum (with no limit on withdrawal)

Savings rеwаrdѕ: Nоnе

Iѕѕuеѕ debit card: Yes

Withdrawal charges: No

Mіnіmum withdrawal: Nоnе

How to fund: Manual bank deposit, debit card, and online transfer from banks.

Sign up and start saving with Kuda bank at

8. CashboxNG

cashbox and sumotrust are secure savings platforms

CashBox is a secure online savings platform that helps customers cultivate a healthy saving habit and also earn high interest on their savings. The platform helps users control when and how they save.

Platforms supported: Android, iOS and web

Intеrеѕt rаtе: up to 15% interest paid monthly.

Iѕѕuеѕ debit card: Nо

Withdrawal charges: non-free withdrawal dates

Mіnіmum withdrawal: Not clear

How to fund: Debit card and bank transfer.

Kindly read through the I-invest about page and signup at

9. I-Invest

i-invest investment website

The I-invest platform allows potential investors to purchase securities and treasury related instruments without the aid of a broker directly from their I-Invest app. The application also provides you with a good dashboard to track diverse investment portfolios, provides a convenient way for retail investors to save money whilst earning attractive interest rates from their investments and allows retail investors to help fund infrastructure projects in Nigeria whilst earning an income.

Platforms supported: Mobile – Android and iOS

Intеrеѕt rаtе: Your Interests depends on the I-invest standard rate and the investment portfolio you have selected at a time

Savings rеwаrdѕ: Nоnе

Iѕѕuеѕ debit card: Nо

Withdrawal charges: Not clear

Mіnіmum withdrawal: Not clear

How to fund: Debit card/Account must be linked to your bank account with a BVN.

Referral bonus: Each account has a referral link that can be used to invite family and friends.

Kindly read through the I-invest about page and signup at

The Rankings are based on my personal view and opinion which were picked from the following points below.

  • Interest payout
  • Value-added to users
  • Customer support
  • Trust

Let me know what you think in the comment section.

Related: How to save if you’re planning on buying a house



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How to Save Money from Salary in Nigeria 2020

Gudtalent Chrisent



reduce careless spending

How to Save Money from Your Salary in Nigeria

Are you a salary earner looking for a way to save more and cut down your expenses? If you are, then, this article is for you.

In this article, we will be discussing how you can save and invest with Sumotrust and lots of money from their high-interest savings program.

if I’m to put it in form of a question, I will say;

  • How can I save money on a small salary?
  • What are some good tips for saving money from your salary?
  • What is the best way to save money every month from my salary in Nigeria?

So, let’s do a quick maths on how much you are likely to raise in a 30-year period of savings and investing with Sumo Trust if you’re on a salary scale of 100,000 NGN per month. Even if you are on a 20000 NGN salary, you can still save very well with this approach for how long you want.

Related: 20 easy ways to save money

  1. Savings account on SumoTrust pays 10% per annum and
  2. Investment account on Sumotrust pays 15% interest per annum.
  3. First thing first, you will need to create a Sumo Trust Savings or Investment account on the website at
  4. For me, I will advise you go for a Fixed/Investment account where you will earn 15% interest for all your savings.
  5. Next, save at least 20% of your salary every month. This will amount to 240,000 Naira every month.
  6. Save for like 20-30 years with Sumotrust. Make this savings habit a culture using AutoSave feature. All you need to do is set 20,000 Naira debit monthly from your debit card ad you’re good to go.
  7. After 30 years’ time, you must have raised 7,200,000 Naira to your account with and outstanding interest payout of 1,080,000 Naira. This will amount to 8,280,000 Naira.
  8. This account serves as a pension account but this time, you’re doing it on a personal note as the extra discipline you’re giving yourself.
  9. You will also need to do a KYC and add a next of kin to your account if, after 5 years, there is no activity on your Sumotrust account, your next of kin will be contacted regarding your account and modalities to withdrawing the funds in your account will be discussed.

Sumotrust is here to help you become a better saver while making plans for a better future. You can call SumoTrust Customer care line at 08148008091

Related: How to become a better money saver this year


This article serves the best way to save money for Salary earner and touches;

  • how to save money from monthly salary
  • how to save money from salary automatically
  • how to save money each month from salary
  • how to save money every week from weekly pay
  • how to save money on a small salary in India
  • how to save money with 20000 salary
  • how to save money every day




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How To Avoid Embarrassment Because You’re Broke By Saving Money

Gudtalent Chrisent



how sumotrust can save you of money embarrassment

How SumoTrust Can Save You From The Embarrassment of Being Broke

During the lockdown, a lot of Nigerians ran into financial distress and the majority of the people went into debts.

In fact, some people searched around for who to borrow money from but couldn’t get and ended up with a ‘SEE FINISH SITUATIONS’.

Here is the thing, while people complained bitterly about no money and all, a lot of other people that had good savings in the bank or savings platforms like SumoTrust; fell on their savings for backup and emergency funds and were never put to shame of any sort that has to do with money.

Debt is bad and you try to avoid it at all cost unless it’s business.

This is why you should give a second thought about your savings culture especially if you can’t boast of N100k in your savings account right now.

Let me let introduce you to SumoTrust.

Sumotrust savings and investment platform in nigeria

SumoTrust is a secure savings and investment platform helping Africans build wealth through micro-savings and investment.

You earn as much as 10-15% interest for every penny you save with SumoTrust and you can automatically save as little as N100 daily. See it as your digital Akawo or Ajo that people go round every day collecting their daily contributions from customers in the market areas.

It is very secure and you can make transfers as we all money requests.

The platform is very flexible, easy to use, and highly secure with thousands of people already using that platform to reach their financial goals. This is something you should pause a moment and give a thought or make a research about it.

Related: Top Online Savings Platform In Nigeria

You can check out the reviews of SumoTrust on Google Playstore or Apple store here and see what other people that have been using the platform are saying.

There is no honor in being broke the least person you expect to embarrass you will do at the slights opportunity, not because they hate you but something that just happens when you’re broke.

There are tons of time we come across money and other times, run into emergency situations that make us spend money.

The difference in how you respond to both situations is how you manage to save up enough money in times of plenty against times of emergency.

This is one of the reasons why SumoTrust is here for you and you should take it seriously.

All the best.



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