PiggyVest: A Personal Perspective on Trust, Money, and the Future of Saving
Nneka Mbadiwe
When I first heard about PiggyVest, my skepticism could have been measured in megawatts. An app that promised to help me save money, earn better interest rates, and still maintain access to my funds? Honestly, it sounded like just another shiny object in the wild west of financial apps. And let’s not even get started on the trust issues—handing over my hard-earned money to some faceless app? No, thank you.
But here’s the thing: I couldn’t shake the thought. The more I heard about it, the more I felt the quiet weight of my own financial habits—or lack thereof. You know that moment when you check your account at the end of the month and think, Where did it all go? That was me. I knew I wasn’t bad with money, but I wasn’t exactly good with it, either. So, I did what any cautious millennial would do: I read every review I could find, stalked their social media, and even asked friends if they’d ever used it. Turns out, more people were using PiggyVest than I thought, and their experiences didn’t sound like the disaster I feared.
What Is PiggyVest, Really?
For the uninitiated, PiggyVest is a Nigerian-based fintech app designed to help you save and invest money with ease. It’s not a bank, but it functions like one in ways that matter to people like me: it’s simple, it’s digital, and it actually works.
The app offers several features, but the standout for me was the Piggybank savings option. You can automate savings—daily, weekly, or monthly—or lock away funds for a set period with something called the SafeLock. And the interest rates? Far better than what traditional banks in Nigeria offer.
There’s also Investify, which lets you invest small amounts of money in vetted opportunities like agriculture, real estate, or even small businesses. It gives you a seat at the investment table without needing to be some Wall Street-level financial acrobat.
My Experience: From Skeptic to Believer
I decided to give PiggyVest a trial run late last year. It wasn’t some grand financial experiment—I just wanted to see if I could save a little extra without noticing it. I set up a daily savings plan of ₦1500 (roughly $1) into the Piggybank feature. That’s it. One Thousand Five hundred naira a day is what I’d spend on snacks I didn’t need, so I figured I wouldn’t miss it.
The first week, I obsessed over the app, checking my balance every day. Watching that little number tick upward was strangely satisfying, like planting a seed and seeing it sprout. By the end of the month, I had saved ₦45,000 without even realizing it. Sure, it wasn’t a fortune, but that’s not the point. The point was that I had created a habit—one I didn’t hate.
Three months in, I decided to try the SafeLock feature. This one is for people like me who sometimes get tempted to dip into their savings. You lock a fixed amount away for a set time, and you can’t touch it until the time is up. I locked away ₦150,000 for six months, and when the lock period ended, I got my principal plus interest. It felt like free money, even though I knew it wasn’t.
Why PiggyVest Works
Here’s the thing about PiggyVest: it works because it’s built around human behavior. It doesn’t try to shame you into saving or guilt-trip you about your spending habits. Instead, it makes saving feel effortless, almost invisible. Automating your savings means you don’t have to think about it, and the app’s clean, intuitive design makes it easy to navigate.
The SafeLock feature, in particular, was a game-changer for me. There’s something about locking away money that forces you to confront your short-term impulses. It’s like a self-imposed barrier that protects you from your own bad decisions.
And then there’s the transparency. PiggyVest doesn’t hide its terms in intricate fine print. The interest rates, fees (or lack thereof), and withdrawal rules are all clearly stated. That level of openness builds trust, especially in a financial space where trust is often in short supply.
The Bigger Picture
PiggyVest isn’t just an app; it’s part of a larger shift in how we think about money in the digital age. In a country like Nigeria, where traditional banks often feel outdated, inaccessible, or downright frustrating, fintech solutions like PiggyVest are a breath of fresh air. They democratize access to financial tools that were once reserved for the wealthy or well-connected.
But it’s not perfect. No financial tool is. For instance, the app is heavily reliant on internet access, which can be a challenge in areas with poor connectivity. And while the investments on Investify are vetted, they’re not risk-free. You still have to do your homework.
That said, PiggyVest has done something remarkable: it has made saving and investing feel possible for people who may have thought it wasn’t for them. And in a world where financial stress is one of the leading causes of anxiety, that’s no small feat.
So, would I advise anyone to use PiggyVest? Absolutely. Whether you’re saving for a specific goal, looking to grow your money, or just trying to build better financial habits, it’s a tool that delivers on its promises.
But more than that, it’s a reminder that financial security isn’t out of reach. It’s not about big leaps; it’s about small, consistent steps that add up over time. And PiggyVest makes those steps a little easier—and a lot more rewarding.
If you’ve ever struggled with saving or investing, give it a try. You might just surprise yourself with what you’re capable of. I know I did.