The snowball: get rich slowly
Small savings, kept up for years, grow into real wealth. Why ₦10 a day beats ₦1 a day by far more than 10×.
In the app: 2 lessons · 1 quick check
Key points
1. Two people, same income
- Trader A spends ₦9,900 and saves ₦100 a day → ₦10,000 after 100 days.
- Trader B spends ₦9,000 and saves ₦1,000 a day → ₦100,000 after 100 days.
Earning more will not make you wealthy if you keep spending it all.
2. Why the snowball grows faster over time
- Savings that earn interest grow, and the interest earns interest too. This is compounding. Over many years it turns steady saving into a large sum.
Beware of 'get rich quick'. Wealth is built slowly, by saving regularly for a long time.
The full lesson is in the Kopkad app
Worked examples in naira, quick checks to test yourself, and the step-by-step guide to doing it, free with your account.
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Free to join. Find the lessons under Learn → Financial Literacy at app.kopkad.ng and in the Android app.