Sav Insights and musings

Embracing sustainable spending: The power of Save Now, Buy Later. In a world driven by consumerism and instant gratification, our elders’ advice to live within our means holds timeless wisdom. However, the constant temptation of attractive offers and credit-based products like BNPL, store-branded credit cards and installment payments, encourage impulsive buying that leads to buyer’s remorse and guilt.This blog explores the concept of “Save Now, Buy Later” (SNBL) as a path to sustainable spending. As people reevaluate their priorities and seek long-term fulfillment, SNBL offers a fresh perspective on mindful spending and goal-based saving. In this transformative journey, Sav is leveraging technology to reinvent the concept of saving, and create a rewarding experience that benefits both consumers and brands, thereby fostering a healthier consumption ecosystem. The Temptation of Impulse Buying We are all familiar with the allure of a mega sale, where the excitement of spending lavishly often overshadows rationality. The immediate thrill of purchasing unnecessary items is fleeting, quickly replaced by guilt and regret. Studies have revealed that 64% of people regret making impulse purchases during sales or limited-time offers, leading to underutilized products and wasted resources. The surge in impulse buying can be attributed to the availability of easy credit options, enticing consumers to make large-ticket purchases without immediate financial repercussions. This phenomenon is driven by the “Purchase Justification Machine,” a psychological mechanism that rationalizes our desire to buy, fuelled further by discounts, coupons & vouchers and pay later offers. The Rise of Revenge Spending and Its Demise The past year witnessed a surge in “revenge spending” as people sought to compensate for lost time and happiness during the pandemic. Entertainment, luxury products, travel, and service upgrades experienced a boom without thinking about money saving. However, as the initial fear subsided, the frenzy of revenge spending waned. This trend prompted individuals to reevaluate their spending habits and ponder their life priorities. An emerging movement towards sustainable spending has taken root, encouraging people to question their purchasing decisions and envision their ideal lifestyle in the long term via goal based savings. Savings trend in MENA is evolving. Embracing Sustainable Spending through SNBLThe concept of Save Now, Buy Later has emerged as a pivotal element in the shift towards sustainable spending. SNBL entails careful planning, saving, and mindful spending. It encourages individuals to adopt goal-based saving strategies, harking back to a time when saving up for high-value purchases was a common practice. By integrating this approach, consumers regain control over their financial decisions and align their expenditures with their values and aspirations. SNBL empowers individuals to break free from the cycle of impulsive buying, leading to greater satisfaction and fulfilment.Redefining Savings for the Future For decades, the traditional experience of saving with banks and institutions has remained unchanged, lacking innovation and excitement. Sav combines the security and liquidity of a traditional savings account with enticing rewards for goal-based saving. Through this novel approach, consumers can meticulously plan their purchases while enjoying increased value on their savings. Brands also benefit from this symbiotic relationship, engaging with more financially conscious and loyal customers. This approach can also help your money management journey. The Promise of a Healthy Consumption Ecosystem The SNBL revolution promises to create a sustainable and thriving consumption ecosystem. As individuals embrace mindful spending, they contribute to reducing wasteful consumption and making more informed choices. This shift is not only beneficial for the planet but also for personal financial well-being. With SNBL, the impulse buying culture can transform into a conscious and intentional purchasing approach. Brands that support this trend by offering SNBL options can establish stronger connections with their customers, fostering loyalty and trust. Conclusion In a world inundated with consumerism, the philosophy of living within our means has never been more relevant. Save Now, Buy Later emerges as a powerful concept to counter the allure of impulsive spending, offering a path to sustainable and fulfilling consumption. As individuals and households reevaluate their priorities and embrace goal-based saving, Sav is stepping up to redefine the savings experience, bridging the gap between financial security and gainful spending. With Save Now, Buy Later, we have the opportunity to foster a healthier consumption ecosystem that benefits both individuals and brands, driving positive change in our society and our lives. FAQs What is Sav App? Sav app will make you feel good about money with fun saving rules, and rewards for EVERY Dirham you save. We are ambitious, positive, and always focused on what matters most to people. How can I join Sav? You can start your savings journey with Sav by downloading our app – iOS or Android How does Sav help in saving money? Sav helps you to plan for your financially for your short term & long term savings goals. You can start your savings journey with Sav by planning, tracking & investing your money. For more, Download our app – iOS or Android. What is SNBL? SNBL stands for Save Now Buy Later, a concept that encourages sustainable spending.

Sip and Save: Brewing coffee and savings with a dash of Sav. Picture this: the sun’s rays gently peeking through your window, the aroma of freshly brewed coffee wafting through the air – a quintessential morning scene. But hold on a latte! Before you race to the café for your daily dose of caffeine, let’s chat about the age-old debate: buying vs. making coffee at home. Just like your coffee choices, your financial journey deserves the same thoughtful consideration. Struggling with the thought of how to manage money, Enter Sav – your coffee for savings! 1. Café Chic vs. Home Sweet Home: Buying coffee from a café has its charm. The barista’s friendly grin, the hum of social interactions – it’s like a mini social soiree that gives your day a zesty kick. But hey, sipping your homemade brew in your PJs? That’s a winning comfort zone only home can offer. If this is your dilemma too when it comes to managing money, then it’s worthwhile to leave the traditional behind and try a new smart money saving way with a savvy. 2. Kickstart with a Jolt: Café coffee isn’t just a drink; it’s an energy booster, your secret weapon against morning drowsiness. It’s like an invitation to embrace the day with open arms. Similarly, Sav kickstarts your savings journey – a financial boost to embark on your dreams with gusto. Just like new ways of making coffee enhances its taste similarly keeping up with savings trend keeps your money saving & management journey flavourful. 3. The Price Tag Tango: Let’s crunch the numbers: café coffee might be your cup of happiness, but those daily sips add up quicker than you can say “extra shot.” Making coffee at home? Well, that’s like creating your personal savings haven. Those saved bucks? Hello, dream fund! 4. Coffee Date vs. Money Mate: Café visits are splendid coffee dates, but what about your money? It deserves a date night too – one that involves growing and multiplying. Enter Sav, your trusty money mate, here to ensure your financial rendezvous is as fruitful as your caffeine-infused catch-ups. Sav allows you to create budget & enhance your savings while enjoying your favourite coffee. 5. Sav: Your Financial French Press: Just as that French press brews your coffee to perfection, Sav brews your savings & money management journey like a mastermind. Setting goals? Check. Round-ups? Check. High-yield savings? Double-check. Just as a barista crafts your cup with care, Sav crafts your savings strategy & helps you save money with precision. 6. Crafting the Perfect Blend: Much like you customize your café order, Sav lets you customize your financial plans. Dream vacation? Retirement goals? Sav’s got your back, tailoring your savings just like your latte – exactly how you like it. With Sav you can optimize your money management strategy just like you can customize your coffee for the best taste. In a world that swirls with choices, whether it’s the café counter or your financial compass, both deserve mindful consideration. So, here’s the deal: while your café splurges give you social energy, your Sav-powered savings give you the financial energy to conquer your goals. Brew that coffee, embrace that savings – and remember, whether you’re at the café or in your financial journey, it’s all about savoringly the experience, one cup at a time FAQs What is Sav App? Sav app will make you feel good about money with fun saving rules, and rewards for EVERY Dirham you save. We are ambitious, positive, and always focused on what matters most to people. How can I join Sav? You can start your savings journey with Sav by downloading our app – iOS or Android How does Sav help in saving money? Sav helps you to plan for your financially for your short term & long term savings goals. You can start your savings journey with Sav by planning, tracking & investing your money. For more, Download our app – iOS or Android.