Most of us want to save and invest, but when unexpected emergencies come up, we often end up borrowing money just to survive. I know that feeling too well. For years, anytime I faced a financial challenge whether it was in business or personal life I had to borrow. But everything changed when I discovered a simple yet powerful financial habit: automated savings.
This single strategy has helped me handle emergencies without debt, create a financial cushion, and even fund business ideas without waiting for someone else’s help. Today, I’ll show you exactly how it works so you can apply it too.
What Is Automated Savings?
Automated savings is the process of setting up a system where money is deducted from your account automatically and saved without you having to think about it. Unlike manual savings—where you move money yourself—automation removes temptation and inconsistency.
The beauty of this system is that you can even forget you’re saving, while your money quietly grows in the background.
Two Practical Ways to Automate Your Savings
- Automated Bank Savings
Many banks allow you to set up a standing order or savings plan. For example:
You agree with your bank to deduct a fixed amount (say GHS 500) every month from your salary account into a savings account.
You can set it to run daily, weekly, or monthly.
Banks often add interest, so your money grows over time.
You can choose withdrawal restrictions (e.g., only after 6 months or when a target amount is reached).
This prevents impulse withdrawals and ensures discipline.
- Mobile Money (MoMo) Savings – MTN Y’ello Save
If you live in Ghana or other parts of Africa, mobile money is a game changer. MTN offers a savings product called Y’ello Save where:
You register by dialing *170# → Financial Services → Savings → Y’ello Save.
Create a PIN and confirm with your MoMo PIN.
Decide how often you want deductions: daily, weekly, or monthly.
Set the amount (e.g., GHS 5, 10, 20 a day).
Your savings earn interest (about 8% per year).
The key here isn’t just the interest—it’s about building a consistent savings habit without thinking about it.
Tip: Start small. Even GHS 1 or GHS 2 a day is better than nothing. With time, you can increase the amount as your income grows.
Why Automated Savings Is a Game Changer
No more emergency borrowing – You’ll always have a backup fund.
Business opportunities – You can start projects without begging or borrowing.
Job security buffer – If you lose your job, you won’t panic immediately.
Investment readiness – It’s easier to invest when you already have saved capital.
It’s not about how much you earn—it’s about creating a system that pays your future self first.
Ready to Take It Further?
Automated savings is just the beginning. If you want to learn how to multiply your savings, invest wisely, and achieve lasting financial freedom, I dedicated a full chapter (Chapter 11) to this in my book:
Download Achieving Your Greatest Dreams here
This book goes deeper into breaking financial limitations and building wealth, no matter your starting point.
Inconclusion,
Don’t wait until the next emergency forces you to borrow. Start automating your savings today, even with the smallest amount possible. Over time, you’ll thank yourself for creating financial security and freedom.
Remember: financial freedom doesn’t come from one big leap—it comes from small, consistent actions like this.
David Asaana is a Digital Marketer, Author, and Entrepreneur with over five years of experience. He has worked with 4,000+ clients across Ghana, the USA, the UK, and beyond, and his YouTube channel—where he shares step-by-step tutorials on digital marketing and business growth—has reached more than 1.8 million views.
