Financial Literacy Coach Bright Pita has encouraged Basotho to commit to monthly savings, saying the habit had long term benefits especially towards end of year when spending escalated.
A Savings Challenge launched on social media by Financial Literacy Coach Bright Pita has seen over one hundred participants collectively raise around one hundred thousand maloti towards the cause.
With the aim to create a culture of saving among Basotho after the realization that many people were unjustly living beyond their means, Mr Pita said the trend was picked up by mostly women, hoping to gain from the experience.
To monitor progress, Coach Pita requested participants to send screenshots of their transactions to him, an exercise that kept participants on track to the final day.
To instill discipline as well as to avoid overstretching of the December budget to fit rising demands, Mr Pita set a December deadline for the splashing to take place over the festive season or beyond.
He said having savings curbed reckless overspending associated during the festive season without regard for more pressing issues such as school fees and uniforms usually required by January.
