While it is true that saving isn’t an easy task for many youths in Liberia especially low-income individuals, it is unreliable for many young people in Liberia to save because of their low earning. Often their cash is un-bankable and they feel reluctant to spend an hour or two in a bank to deposit just cash such as 100 LRD or 200 LRD to their account(s). This evidences many youths being financially vulnerable. In this situation, the bank isn’t their go-to place for saving, many turns to what is locally called “SUSU” as an alternative and since the emergence of Mobile money, many young people have tended to use mobile money as a means of putting aside some cash.
But whatever method they used, be it Mobile Money, SUSU, or even Bank Saving Account, they don’t still meet their goal of financial saving. Why, Mobile Money is a wallet, meaning, when you put your money in it, you can use it anytime you wish. Therefore, people find it difficult to restrict themselves from spending their finance especially in this modern world of internet and connectivity where everyone wants to be connected socially. Be it by means of social media like Facebook, What’s an app, etc… This provokes youths to use the money is their mobile money accounts to purchase data or Airtime.
Many don’t do SUSU but for the few that decide to embark, the majority don’t complete their SUSU card statistically. It’s often half completed when they request to have their money.
Many don’t do traditional banking because of the hassle involve and the intolerance to spend an hour or two to deposit petty cash such as $100 LRD. The app called KePaid with its website www.kepaid.com has solved this challenge(s) and it has facilitated Liberian youths to save financially through it mobile app or website.
The newly developed app KePaid has directed its attention to youths especially low-income individuals. The app enables people to save easily and securely for a period of time using their web or app on your mobile device. While it is true that mobile money isn’t a saving alternative and many youths cash are un-bankable ($50 LRD, $100 LRD, $200 LRD), they can save easily with kepaid for a period of time while accumulating interest on their saving.
If you have always been thinking about putting money aside to start a business or your next venture but finding it challenging because of poor saving habits, well this KePaid app is your go-to place for a start-up.
You can visit their website at www.kepaid.com for more detail about them or create your account or search for their app KePaid on play store to download and start to KePaid.