Have you ever had pocket money in your KiddyCash wallet and spent it all on small snacks, only to realize later that you didn’t have enough left for that cool toy or the new football you really wanted?

That is where Savings Goals come in. A Savings Goal is like a digital “kibuyu” or piggy bank inside your KiddyCash account. It helps you set aside a specific amount of money for a specific purpose, making sure you don’t accidentally spend it on other things. Learning the power of saving for goals is one of the best ways to become a money boss.

What is a Savings Goal?

Before we start, let’s define a few terms:

  • Target Amount: This is the total price of the item you want to buy (for example, 2,500 KES for a new pair of shoes).
  • Wallet Balance: This is the total money you have available right now. You can see how your money is split between your “spending” money and your “savings” by viewing your balance breakdown.
  • Progress Bar: A visual line that shows how close you are to reaching your goal.

Step-by-Step: Creating Your First Goal

Follow these steps to lock away your first KES for something special:

  1. Log in to your KiddyCash app: Open the app on your phone or tablet and enter your transaction code or password.
  2. Navigate to the Goals section: On your home dashboard, look for the “Accounts” tab or the “Goals” icon.
  3. Start a new goal: To get started immediately, you can click here to create a new goal.
  4. Give your goal a name: Be specific! Instead of just “Saving,” name it “New Mountain Bike” or “Mombasa Holiday Fund.” This helps you stay excited.
  5. Set your target: Type in exactly how much money you need. If you are saving for a video game that costs 5,000 KES, enter 5,000 as your target.
  6. Choose a deadline (Optional): You can pick a date when you want to have the money ready. This helps the app tell you if you are on track.
  7. Save the Goal: Tap the “Create” button. You will now see your goal on your dashboard!

How to Add Money to Your Goal

Now that your goal is created, it will start at 0 KES. You need to move money from your main wallet into this goal.

  1. Tap on your new goal from the dashboard.
  2. Select “Add Funds.”
  3. Choose how much you want to move. You might use money from your weekly allowance or a gift sent to you via M-Pesa by your uncle in Nairobi.
  4. Confirm the transfer.

The money is now “locked” in that goal. You won’t see it in your regular spending balance, which keeps it safe from being spent on small things!

Reaching Your Target

As you add money, KiddyCash will award you badges for reaching milestones, like being 50% of the way there. Once you hit 100%, you can “Release” the funds back to your main wallet to make your purchase.

If you find that you have saved more than you need, you might even consider how to buy stocks as a kid to make your extra money grow even faster.

Setting goals is the best way to make sure your KiddyCash works for you. Start small, stay consistent, and watch your savings grow!

  • /kb/viewing-your-balance-breakdown
  • /kb/how-to-buy-stocks-as-a-kid
  • /blog/the-power-of-saving-for-goals