In Kenya, Jobs are minimal infact it is a luck to get a job nowdays. If you are lucky enough to get any kind of a job even if it pays you peanuts, it is important to know some of the best ways to use that little earnings you get so that you can improve in life.
If you waste even a coin of your money, know that you are unknowingly welcoming poverty in your life. In this article, i will take you through some ways you can use to avoid wasting your salary or your savings so that you can become rich one day.
1. Minimize use of electronic money (prefer use Cash when shopping due to the reason below)
The reason you should avoid using electronic money when shopping is because it is very costly but you may not realise.
Imagine moving in town shopping from various dealers, lets say ten dealers paying them using Mpesa, You will find that you have wasted almost Ksh 100 on all those transactions. Assume each transaction costed you only 10 bob. That 100 bob is so important as far as economy is concerned.
If you would have paid them using hard cash, you have have not incurred that transaction cost.
2. Avoid taking loans and credits as much as you can.
Loans are good but don't force yourself to take a loan if you still have a capacity to sustain yourself. You add some fees on top when repaying the loas which becomes so expensive.
Even if the interest you pay on this loans is as low as ten percent (10%) of the total money, remember you are wasting your money. That 10 percent finding it is not easy.
That makes you poorer while the person or the organisation that gives the loan becomes more richer. That is when you may find someone has stagnated in life even after working for so many years.
Some of the reasons he/she remains poor is because of the loan interests he/she pays. You can never be rich easily if you take loans and spent them extravagantly.
3. Avoid Impulse Buying of Goods whenever you go.
You should avoid buying anything you see in the supermarket or anywhare you pass which you had not planned for.
Once you receive your salary, sit down and plan for the budget of your house. Prepare a list of items you want and go for a cummulative shopping once.
This will save your money as you will incur transportation cost of those items only once. If you buy one commody each day, it will cost you alot on transportation.
4. Stay in a cheaper rental house. Avoid too much expensive houses
Too much expensive houses does not add any value to your life. Rent is an expenditure and living in an expensive rented house is just a presitige and it does not improve your economic life.
You can move to a cheaper house and save that extra money you are using on rent for something more important or save it. Remember there is no need of you enjoying today and suffering tomorrow.
5. Use Energy saver lamps and not these yellow bulbs
The yellow bulbs consumes alot of energy making you to pay more on electricity. It is better if you would preffer these other energy saver lamps which are white in colour. They are as bright as other lamps making you spentd less. Their energy consumption is rated 4W - 10W other than those bulbs rated 100W.
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