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:

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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

1

Explore Savebo's Homepage

Begin by visiting Savebo's homepage at https://savebo.com. Here you can find the merchants offering Saving Credit and start your savings journey.

2

Select a Merchant & Set Your Savings Goal

Once on Savebo's homepage, browse through the available merchants. Select one that suits your needs, then set your savings goal by entering the total amount you want to save. You can customize your savings plan by selecting the frequency and amount of your instalments.

3

Define Your Goal & Choose Instalments

After selecting your merchant, enter your target amount and choose the instalment frequency that works best for you (weekly, bi-weekly, or monthly). Set your first payment to kickstart your savings journey.

4

Track & Manage Your Instalments

Monitor your progress in the "Credits" section of your Savebo Wallet. If needed, you can update your instalments or skip a scheduled payment.

5

Invite Contributors (Optional)

Use the "Request Credit" feature to invite friends, family, or teammates to contribute to your savings goal. You can speed up your savings with their help!

6

Redeem Your Credit

Once you’ve saved the full amount for your goal, you can redeem your credit and complete your purchase with ease.

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!

PreviousBudget credit 📈NextGift credit 🎁

Last updated