All Collections
Joining a Group on Chippit
How to Choose a Plan on Chippit?
How to Choose a Plan on Chippit?
Written by Josh
Updated over a week ago

We're going to guide you through the process of selecting the best plan that suits your financial goals and needs. With Chippit, you have access to a variety of plans, each designed to cater to different objectives. Here's how to pick the right one(s) for you:

1. Aligning with a Planned Purchase

Identify Your Goal: Before choosing a plan, think about what you're intended goal. Is it a new car, a home renovation, or a dream vacation? Different plans are tailored to various types of purchases, offering benefits and features that align with specific goals.

Match the Plan with the Purchase: Look for plans that matches the timeframe and budget of your purchase. For instance, if you're saving for a tuition, select a plan that aligns the final amount needed with the timeframe the tuition needs to be paid.

2. Budget-Friendly Selection

Calculate Your Disposable Income: After covering your essential living expenses, determine how much you can comfortably allocate to savings and credit repayments. This is your disposable income.

Choose a Plan Within Your Budget: Select a plan that allows you to contribute comfortably within this budget. Chippit offers plans with flexible contribution amounts, ensuring you don't overextend your finances.

4. Diversify with Multiple Plans

One Size Doesn't Fit All: You might have multiple goals with different time frames and budget requirements. Remember, you don't have to stick to just one plan.

Mix and Match: Feel free to have different plans for different purchasing goals. This way, you can simultaneously save for a holiday next year and a home down payment for the longer term, each with plans best suited for these objectives.

In conclusion, picking the right plan on Chippit is all about understanding your financial goals, knowing your budget, aligning with your time frame, and not being afraid to diversify. With these tips, you’re well on your way to making informed and effective financial decisions. If you need further assistance, our Chippit support team is always here to help. Happy saving and spending!

The information contained on this web site is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Did this answer your question?