Want a Better Future? Start Saving Now

Want a Better Future? Start Saving Now—Your Phone Can Help

Let’s be honest, saving money isn’t always top of mind for many people when they are in their youthful years, their 20s or early 30s.

With job hunting, rent, social life, and maybe even supporting the family, there never seems to be “extra” cash lying around. But here’s something no one tells you early enough: the money you save in your youth could be worth more than the money you save later in life not because of how much you save, but because of when you start saving.

Thanks to the power of compound interest, the money you save today doesn’t just sit there. It grows. Slowly at first, then faster like planting a seed that becomes a tree and later, a forest.

Take the example of one of the world’s most famous investors, Warren Buffett. While he began investing as a teenager, over 95% of his wealth came after he turned 50 years.

That’s right he built more than $84 billion after 50, and $81 billion of it after 65. His secret? Starting early, and letting compound interest do the heavy lifting. This is something to really consider in your youthful years as soon as you start having an income.

Kenya is a young country. Over a third of Kenyans are aged between 15 and 34, according to the 2019 Census. That’s a huge opportunity for economic growth—if this generation starts building a savings culture now. But here’s the reality: we’re not saving enough.

A global survey by EFG Hermes showed Kenya’s savings rate is just 13%, behind even our neighbouring countries.

Why? Many young Kenyans haven’t been exposed to adequate financial education. Around 19 million people in the country don’t have the financial know-how to make confident decisions about saving or investing.Amongst the population, many of those who have heard about investment products feel overwhelmed or unsure where to start.

It doesn’t have to be complicated.Picture this, if you started saving just KShs 500 every month from the age of 25, by the time you turn 60 with average returns you could be sitting on a small fortune by accumulating about KShs 2 million even before accounting for any salary growth.

But the good news is that there is always a starting point. Once you decide to begin the savings journey, the best is to start with what you have in your hands.

We live in a time where your phone is your bank, your calculator, your coach, and your investment partner. Financial apps have made it easier than ever to learn, save, and grow your money -without the need to walk to a bank or wear a suit.

Take the CIC Invest App, for example.With it, you can sign up in minutes, start investing with as little as a few hundred shillings, and watch your savings grow.You can track your progress, set financial goals, and even form digital chamas (group savings plans) with your friends from your phone.

These platforms are made with young people in mind. They are intuitive, mobile-friendly, and even offer interactive tools like savings calculators and investment tutorials.

This means you just need curiosity and consistency to enrich your investment knowledge.

Your phone is already your source of entertainment, your side hustle tool, and your social lifeline, why not make it your pathway to wealth too?

Think Investing Is for the Rich? Think Again.

A lot of people think you need to be “rich” to start investing.Not true.Today, there are accessible options like money market funds, unit trusts, and even government bonds that allow you to start small and grow gradually. With KES 500 a month, you can get into a professionally managed investment fund that spreads your risk and helps your money work for you.

Forget the myth that investing is only for older, wealthier people. In fact, the earlier you start, the more advantage you gain.

As one financial expert once said, “The best investment you can make is time in the market not timing the market.

Start, then learn as you go.The good news is that you can learn at your own pace. There are plenty of free resources from YouTube tutorials and online courses to content from credible financial experts on social media. And you don’t have to do everything perfectly. Start small.

Be consistent. Set a goal—whether it’s saving for school, a new laptop, travel, or your own hustle. Then, track your progress. Every shilling counts.

Saving isn’t just about your future. It’s about Kenya’s future. The more young people take charge of their finances, the stronger our economy becomes.

We will have more entrepreneurs, stronger families, more stable communities, and deeper capital markets. That’s how we build a more resilient Kenya.

So, if you’re under 35 and haven’t started saving yet, we are here to walk with you in this journey. Download the CIC Invest App, and put some savings this month.