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NDINDA: Tips on saving money



Hello Good people. It's a new year , and yeah we thank the  Almighty God for allowing us to be here to continue witnessing His goodness. It's a whole new year for us as at MWINGI TIMES , as we strive to always put our best foot forward to see the growth of our publication
Saving money involves tracking expenses to maximize on every shilling earned/FILE

I know we all have our resolutions for the year and I know one most common goal is to save up more than we did previously. We always start out well but in between we come across challenges that make us break our home banks before the year ends. 

We'll, some challenges need us to use our savings but some others can be overlooked. I'd like to share some saving tips with you so that you can see if this year will be a little bit different from the rest in terms of having something in your account.

Starting us off is knowing why we want to save. We shouldn't just save for the sake of it.

This is saving ,yes, but without a clear purpose of saving. What will you want to do with your savings at the middle or the end of the year? This purpose will always push you to doing better everyday.

Once you have the goal as to why you want to save, then make sure you have a budget. A budget is crucial especially when going out for shopping. It acts as a guide to avoid impulse buying and unnecessary expenditures. 

A budget also helps you to know how much you need to save per day or week.

Eliminate/avoid unnecessary debts. We all have one or two debts somehow that need to be settled. Remember that when you settle a debt, it's off your chest and you can focus on other things like saving.

The amount of money that could be going to debt payments could be channeled to your savings account. 

If in any way you could avoid unnecessary borrowing ,please do. This gives you an ample time since you don't have to divide all your money out to people just because you owe them.

Spend to save. This basically will require you to know that you can forgo something of a relative price without over spending as long it will serve you the purpose. You don't have to go for expensive things just to look classy yet you can get products for the same purpose at a considerable price.

Remember, spending is not adding more savings and reduction is quite faster than increment.

Cut unnecessary expenditures. If you have friends going for a vacation , you don't need to break a bank just so to fit in. If you don't have the plan of going for such ,just tame yourself. If you can have your lunch packed ,the better .

Save the money used to buy lunch everyday at work. We all know how takeaway meals cost and they can deprive you of a good amount of money. This doesn't mean that you can't buy lunch once in a week.

Don't be too hard on yourself in as much as you want to save. Learn to say no.

Keep track of your savings. As mentioned earlier , don't just save blindly. You could be writing down somewhere just to know the progress as time goes by. You need to know if you are still on track or not. 

A financial record will even motivate you to save more since it'll be able to help you calculate how much you've saved, considering you set goal.

Utilize on opportunities to earn more income. If you get an opportunity where you can earn some extra cash , why not? Go for it. Take that as an advantage to have extra coins in your account. Don't just rely on your end month salary. It comes with a lot of things to do especially on bills. Make sure that you don't waste your extra cash simply because it's not directly form your salary. Most of us tend to think that we should 'misuse' our overtime earned money carelessly just because it's not reducing on our wages. This will even encourage you to go for extra gigs to earn something more.

These are just few tips on how to go about this whole saving issue. If you haven't started out yet , don't worry . The year is still young. We have different ways of saving. Consider the one that favors you. 

I hope that you'll find this tips useful and of great help. Let this year be different for us ,financially.

The writer, FAITH NDINDA, is a budding Journalist with passion on Health and Lifestyle  matters

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