Tips & Terms for
Smarter Saving
From definitions to smart tips — everything you need to navigate Nkwa with ease
Aggregator
A tool that lets you collect payments from MTN MoMo
💡 Tips
Orange Money
Allowance Management
Breaking your monthly money into weekly or daily amounts.
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Students can use Basics to avoid spending all their pocket money in the first week.
Autosave
Automatically transfers money into your Nkwa savings daily
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weekly
Basics
A budgeting feature that blocks money and releases it daily/weekly for essentials.
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Keeps food
Bookkeeping
Daily recording of money coming in and going out.
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Write down every transaction
Borrow with Push
Unlock up to 30% of your goal savings without breaking it.
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Repay quickly to protect your Nkwa Score.
Budget
A plan for how you will spend and save.
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Use the 50-30-20 rule — 50% needs
Business Profit vs Cash Flow
High sales don't guarantee profit; expenses and timing of cash matter.
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After every sale
Capital Misuse
Using business money for personal needs.
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Create separate Nkwa goals for business and home. Never mix them.
Cash Flow
The movement of money in and out of your wallet or business.
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Track daily inflows/outflows so cash doesn't 'disappear'.
Community Savings (Njangi/Tontine)
Traditional group saving with friends or family.
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Use Nkwa group goals for transparency and accountability.
Cost Control
Keeping expenses efficient without hurting quality.
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Negotiate with suppliers
Credit Score (Nkwa Score)
Your financial reputation built from saving and repayment behavior.
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Repay Push on time to boost eligibility for future products.
Debt Control
Borrowing for productive use
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not consumption.
Discipline
Saving first before spending.
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Automate savings to remove temptation and forgetfulness.
Education Savings
Money set aside for school fees or training.
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Start Autosave in January for September school fees.
Emergency Fund
3–6 months of living costs saved for shocks.
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Start with one month's rent and grow steadily.
Expenses
All the money you spend.
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Track for 30 days; most people can cut at least 10% without pain.
Financial Goals
Specific targets like 'Buy a laptop' or 'Open a branch'.
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Name your goal and save toward it with Goal Savings.
FOGADAC
Regional deposit insurance protecting savings in licensed MFIs.
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Your deposits with Nkwaccul are regulated and insured.
Goal Savings
Saving for a specific purpose like school
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rent
Group Accountability
Staying committed when others can see your progress.
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Share your goal with a friend—you're less likely to quit.
Impulse Spending
Unplanned purchases driven by emotion.
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Use a 24-hour rule on 'wants'—most desires fade.
Investment Mindset
Letting money work for you over time.
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Build disciplined savings first; invest from strength
Liquidity Management
Ensuring enough cash for daily operations.
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Keep a Reserves buffer to handle slow-sales days and emergencies.
Loan Discipline
Using credit wisely and sparingly.
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If cash flow (not profit) is your issue
Mobile Money
Everyday rails for sending
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receiving
Monthly Savings Plan
Committing a fixed amount to savings each month.
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Businesses should auto-allocate for rent
Needs vs Wants
Needs are essentials; wants are extras.
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Cover needs first
Networking & Money
Relationships help
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discipline sustains.
Planning for Growth
Preparing finances and operations before expanding.
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Save toward expansion; don't rely only on sudden loans.
Profit Margin
What's left after subtracting all costs from the selling price.
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If you sell at 1
Reinvestment
Putting part of profits back into the business.
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Aim to reinvest at least 20% in stock
Rentree Scolaire
Back-to-school season when expenses peak.
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Start saving early in the year to avoid last-minute borrowing.
Reserves
Emergency savings with one free withdrawal per month
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then a small penalty to keep discipline.
School Fees Saving
Dedicated saving for education costs.
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Use Autosave monthly so September is stress-free.
Separate Business & Personal Money
Keeping shop finances distinct from home expenses.
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Create separate goals and never cross-use funds.
Stock Management
Tracking items bought
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sold
Streaks
Saving daily/weekly without breaking the chain.
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A 30-day streak—even 500 CFA/day—builds strong habit.
Track Spending
Knowing where your money goes.
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Review weekly; cut waste like unused data bundles or subscriptions.
Trust
Reliability in saving and commitments.
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Keep your word in tontines and group goals—reputation is capital.
Turnover vs Profit
Turnover is sales; profit is what remains after all costs.
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Judge success by profit and cash flow
Unit Economics
Profitability per unit/customer after direct costs.
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Know your contribution margin; don't scale unprofitable products.
Unpaid Invoices (Receivables)
Money customers owe you for goods/services already delivered.
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Set clear payment terms and follow up quickly—sales aren't cash until collected.
Variance (Budget vs Actual)
The difference between what you planned and what happened.
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Do a monthly variance review to correct overspending fast.
Vendor Management
Selecting and negotiating with suppliers.
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Compare prices
Waste Spend
Money lost to leakages like pilferage
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freebies
Withdrawals
Taking money out of savings.
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Plan withdrawals; frequent ones slow your progress.
Working Capital
Cash available to run your day-to-day business.
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Protect it—avoid locking too much cash in slow-moving stock.
Workplace Savings
Building discipline as a young employee.
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Set aside 10% of salary for a 'career growth' fund—courses
X-Rate (Exchange Rate)
The value of one currency vs another.
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When paying cross-border
XAF / XOF
Central & West African CFA francs used across CEMAC and UEMOA (not interchangeable).
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Check fees and transfer rules when moving money across regions.
Yearly Goals
Big objectives planned across 12 months.
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Break them into monthly targets and fund them via Goal Savings.
Yield
The return your money earns.
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Prioritise safe saving habits first; only pursue higher yields you fully understand.
Zero Leakage Challenge
A 30-day challenge to eliminate petty cash losses.
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Require receipts
Zero-Based Budgeting
Every expense must be justified each month—no automatic carry-overs.
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Great when money is tight; it exposes hidden waste fast.
