Get Guardian on GoogleThe Managing Director/Chief Executive Officer of Fina Trust Microfinance Bank, Bevan Pereira, has called on Nigerians to cultivate a consistent savings culture, highlighting the importance of financial discipline, starting small and building savings gradually, irrespective of income level.
Pereira made the call during an interview where he discussed the theme, “Building a Consistent Savings Culture in Nigeria,” in commemoration of World Savings Day.
He noted that Nigeria already has a longstanding tradition of savings, rooted in cooperative societies, family practices and community-based contribution schemes, but stressed the need to strengthen this culture through deliberate and consistent financial habits.
According to him, savings should not be viewed merely as whatever remains after spending, but as a deliberate decision to set aside a portion of one’s income before meeting other expenses. He explained that while saving can be challenging, particularly under difficult economic conditions, developing the habit requires personal discipline and a willingness to begin with whatever amount is affordable.
“Saving is not a sprint; it is a marathon. It is about what you build over a period of time. It is not about how much you start with, but where you start. Whether it is ₦500 or another amount you can afford, the important thing is to develop the habit and remain consistent,” he said.
Pereira also cautioned against adopting rigid savings formulas without considering individual financial situations, noting that the amount and approach to saving should reflect one’s income, responsibilities and prevailing circumstances.
He encouraged Nigerians, particularly young people, to focus on making a deliberate start rather than postponing savings until they can afford to set aside substantial amounts. He explained that the ability to see and measure progress can encourage younger generations to remain engaged with their savings goals.
