Save credit 💰
Save for big purchases with ease
The Saving Credit feature on Savebo allows shoppers to set and achieve savings goals for larger purchases through flexible, manageable installments. This tool provides a straightforward way to save at your own pace, request contributions from others, and redeem credits for your desired product when you’ve saved enough.
How Saving Credit Works
Saving Credit empowers shoppers to break down big purchases into smaller, incremental steps. Here’s how it works:
Set a Savings Goal Choose the product or total amount you want to save for and set your savings target. You can also customize the frequency and amount of instalments to suit your budget.
Start Saving in Instalments Make regular instalment payments toward your savings goal at intervals that work for you. You’ll see your progress grow in real time within your Savebo Wallet.
Flexible Options Life happens, and plans can change! The Saving Credit feature lets you:
Update Instalments: Adjust the frequency or amount of your savings if needed.
Skip Instalments: Pause a scheduled instalment if required without losing your saved credit.
Collaborative Contributions Need help reaching your savings target? Use Credit Requests to invite friends, family, or teammates to contribute to your savings goal. Their contributions will be added directly to your wallet.
Redeem Your Credit Once you’ve reached your goal, redeem your saved credits to complete your purchase. The process is seamless, ensuring you can enjoy your product or service hassle-free.
Steps to Start Saving Credit
Log In Access your Savebo Wallet at https://savebo.com/login.
Select Saving Credit Under the product or store credit section, click the Save for Later or Set Savings Goal option.
Define Your Goal Enter the savings target, including any applicable merchant bonuses. Choose instalment frequency (weekly, bi-weekly, monthly) and set your initial payment.
Manage Your Instalments View and adjust your instalments in the Credits section of your wallet. Use the Edit Savings Plan option to make changes or skip instalments if needed.
Invite Contributors (Optional) Use the Request Credit feature to invite others to contribute to your savings goal. (see Multiplayer Saving page for more information)
Redeem Credit When your savings reach the target amount, click Redeem Credit to purchase the product or service.
Tracking Your Savings
Stay on top of your progress with these tools:
Credits Summary Dashboard: Monitor your wallet balance and instalment history.
Transaction History: Access detailed records of instalments, contributions, and redemptions.
Why Use Saving Credit?
Simplified Budgeting: Spread out payments to avoid the stress of lump-sum purchases.
Customizable Plans: Tailor savings goals to match your financial situation.
Collaborative Saving: Request contributions from your network to speed up savings.
Transparent Tracking: Keep an eye on progress with detailed tracking and notifications.
For more help with setting up or managing Saving Credit, contact us at support@savebo.com.
Take control of your savings journey and achieve your big goals with Savebo!
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