Account helps families budget for Christmas

HAVING extra cash set aside for the festive season helps you avoid debt and ensures you have enough to share with your loved ones, according to Nasfund Contributors Savings & Loans society (NCSL).
The society, in a statement, said the extra cash would enable individuals to spend on gifts, entertainment and travel from this savings.
NCSL’s Christmas Savings Account serves this purpose and members are eligible to transfer funds from their Christmas account into their Poro Accounts with the account opening for withdrawals on Nov 1,” NCSL said.
NCSL member services and branch support manager Noel Keyala said having a Christmas account would ensure there was savings set aside.
“Christmas savings ease the burden of paying using your December pay packet and the burden of being in debt. It helps with your monthly budget when you contribute each month and it accumulates overtime,” he said.
“Interested members can deposit a minimum of K15 each fortnight and these contributions or deposits can be done through salary deduction, mobile and internet banking or depositing monies via the commercial banks.
“This interest-bearing account is accessible from Nov 1 to Jan 31 the following year.”