I’ve been trying to build a consistent saving habit, and I came across the M-Shwari 52 week savings challenge. It’s a simple way to save money gradually without feeling overwhelmed.
If you want to grow your savings using M-Shwari, here’s how to set up and follow the challenge.
Quick Answer
To set up the M-Shwari 52 week savings challenge, go to M-Pesa, open M-Shwari Lock Savings Account, set a target of KSh 68,900, choose 12 months, and deposit weekly.
What Is M-Shwari 52 Week Savings Challenge?
The M-Shwari savings challenge helps you save money weekly by increasing the amount gradually.
👉 How it works:
- Week 1: KSh 50
- Week 2: KSh 100
- Week 3: KSh 150
- …
- Week 52: KSh 2,600
👉 Total savings after 52 weeks: KSh 68,900
Benefits of M-Shwari Savings Challenge
- Builds a saving habit
- Earns about 6% annual interest
- Increases your loan limit
- Secure and easy via M-Pesa
Step-by-Step: How to Set Up M-Shwari 52 Week Savings Challenge
Step 1: Open M-Pesa Menu
Go to M-Pesa (SIM Toolkit or MySafaricom App).
Step 2: Select Loans and Savings
Tap Loans and Savings.
Step 3: Select M-Shwari
Open M-Shwari.
Step 4: Select Lock Savings Account
Choose Lock Savings Account.
Step 5: Open Lock Account
Tap Open Lock Account.
Step 6: Set Savings Target
Enter minimum KSh 68,900 (or higher).
Step 7: Set Saving Period
Choose 12 months.
Step 8: Choose Funding Source
Select:
- M-Pesa
- Or M-Shwari account
Step 9: Start Weekly Deposits
Deposit weekly based on the challenge schedule.
Step-by-Step: How to Check Your Savings
Step 1: Go to M-Pesa Menu
Open M-Pesa.
Step 2: Select Loans and Savings
Tap Loans and Savings.
Step 3: Select M-Shwari
Go to M-Shwari.
Step 4: Select Check Balance
Choose Check Balance.
Step 5: Enter PIN
Input your M-Pesa PIN.
Extra Tips and Best Practices
- Save consistently every week
- Start early to avoid skipping weeks
- Set reminders for deposits
- Save more than the minimum if possible
- Avoid withdrawing from locked savings
Common Mistakes to Avoid
- Skipping weekly deposits
- Setting unrealistic targets
- Withdrawing savings early
- Forgetting to track progress
- Not using lock savings option
FAQ
How much will I save after 52 weeks?
You will save KSh 68,900.
Can I join the challenge anytime?
Yes, you can start anytime during the year.
Does M-Shwari savings earn interest?
Yes, about 6% per year.
Conclusion
The M-Shwari 52 week savings challenge is a simple and effective way to grow your savings. Follow the steps, stay consistent, and you’ll reach your financial goal within a year.
