As Kenyans face a high cost of living, mobile-based tools are emerging as a crucial solution to foster a savings culture, particularly for special occasions and recurring expenses like school fees. The Chumz app, licensed by the Capital Markets Authority in 2022, offers a way to automate and manage savings effectively.

• Users can start saving with as little as five shillings, setting specific goals like "Christmas 2025" or "Term 1 Fees – 2026."
• Samuel Njuguna, the founder of Chumz app, highlights its use of behavioral psychology, gamification, and customizable tools to track savings.
• The app allows automation through linking with M-Pesa, offering options like daily/weekly savings, saving a percentage of incoming funds, and rounding up transactions.
• The app also features a group saving option, enabling families or chamas to contribute towards a common fund, and partners with regulated financial institutions to earn interest on savings.