"Sometimes it is not about the money it is the ability to live life on your own terms" .
It's the start of a new month and Kenyans everywhere are scratching their heads due to the huge amount of bills awaiting to be paid thanks to the high cost of living. Being financially independent doesn't mean having millions in your bank account but having something left over after clearing all your bills. The following tips are going to help you become financially stable regardless of your wage bracket.
1.Develop Healthy spending habits.
Mastering Financial discipline is not a hard science but a soft skill that can be nurtured through good spending habits. What I mean is don't spend what you don't have.
2.Live Below your means.
If your Expenses equal your Income then you're setting yourself for failure. Learn to cut on your expenses to have a little left every month. The savings can then be invested in value-generating assets.
3.Get out of Debt.
"If you find yourself in a hole, stop digging."
While big corporations see debt as an advantage when it comes to taxation policies it is not the same for the common taxpayer. The thing about bad debt is that it limits you so find a way to pull yourself out of the hole.
As a parting shot educate yourself about finances. read about government policies, taxation rules; be financially literate. The more you know the easier it will for you to start your journey in becoming financially independent.
Content created and supplied by: unclezipha (via Opera News )
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