On January 4, nine farmers in Ngoma District were killed by lightning while sheltering from rain. Less than two months later, on February 22, two spectators—including a 12-year-old girl—died when a vehicle at the Tour du Rwanda veered off the road. Six others were injured in each incident.

These tragedies happened within weeks of each other. They weren’t the result of reckless behavior. They were ordinary people going about their lives—working in fields, watching a cycling race—when disaster struck.

According to Rwanda National Police, 130 people died nationwide from natural disasters in 2025, including lightning strikes, floods, landslides, and storm-related accidents. The government has warned that heavy March-May rains are coming, putting high-risk districts on alert for more floods and landslides.

Here’s the uncomfortable truth: Most Rwandans have no financial safety net for these emergencies.

When disaster strikes, families face immediate costs: medical bills, funerals, temporary housing, lost income. A breadwinner dies or gets injured, and suddenly there’s no money coming in. A house collapses in a landslide, and everything is gone. A fire destroys a small business, and years of work disappear overnight.

To guard against such catastrophes, a good rule of thumb is to work towards having three to six months of living expenses. You won’t build that overnight. But you can amass it over time.

Here’s how.

Start with what you can. You don’t need to save Rwf 360,000 this month. Begin with Rwf 10,000, Rwf 20,000 or Rwf 30,000. The habit matters more than the amount. Saving Rwf 30,000 per month puts Rwf 360,000 in your account after one year.

Open a separate savings account. Don’t keep emergency money in your regular account where you’ll be tempted to spend it. Open a separate savings account at your bank or SACCO specifically for emergencies.

Use mobile money smartly. If you’re using MTN MoMo or Airtel Money, take advantage of savings features. Some mobile money platforms let you lock money away for a set period, or they offer micro-savings that round up your transactions and save the difference automatically.

Cut one unnecessary expense. Most people have at least one expense they could reduce or eliminate. Maybe it’s eating out three times a week when twice would do. Perhaps it’s data bundles you don’t fully use. Maybe it's the mobile money fees you’re paying because you haven’t switched to eKash. Find Rwf 15,000 per month in your budget, and that’s Rwf 180,000 per year in emergency savings.

Save windfalls. When money comes in that you weren’t expecting, that’s known as a financial "windfall.” It might be a job bonus, a gift, income from a side job, or something else. Whatever the source of your windfall, put at least half of it directly into emergency savings. Don’t let lifestyle inflation or careless spending eat up that extra income.

Make emergency savings a routine part of your budget

The Tour du Rwanda victims’ families faced funeral costs and lost income. The Ngoma lightning strike victims’ families are dealing with medical bills for the injured and burial expenses for the dead. These costs don’t disappear because the tragedy was unexpected.

Heavy rains are forecast for the coming months. Lightning will strike again. Accidents will happen. The question isn’t whether emergencies will occur. It’s whether you’ll be financially ready when they do.

Start today. Open a savings account this week or add to your existing emergency fund.

If you haven’t been saving anything, commit to saving at least Rwf 10,000 this month. If you’re already putting away money, boost your regular contribution by a manageable, but meaningful, amount.

Set up automatic transfers if your bank allows it. Make emergency savings a non-negotiable part of your budget, just like rent or food.

Emergency savings aren’t just for disasters. They’re for any unexpected shock. Your child might fall sick and need hospital care; you could lose your job, or maybe your car or motorcycle breaks down and needs repairs.

Life doesn’t wait for you to be financially ready. So, you shouldn’t wait to prepare for the unexpected either.

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The author is a personal finance expert, speaker, and author of 16 books including the New York Times bestseller "Zero Debt.” She and her husband Earl Cox are expanding their financial education firm in Rwanda to support financial literacy, entrepreneurship, and economic empowerment.

Money Moves is a bi-weekly column providing practical wisdom and strategies for building wealth and financial security in Rwanda’s evolving economy.