We could all use some tips on how to spend less and save more money. Today, we round up 10 tips on how to spend less money.
1. Cook Your Own Food
Eating Out can be very expensive. If you live in a major town, a plate of fries for example will cost you Ksh. 100. If you make your own food, the same Ksh. 100 to buy enough groceries to make you a decent meal that can last you more than one meal.
2. Buy Products In Wholesale
Instead of doing your shopping in the supermarket where you buy one item at a time, buy wholesale instead. It is much cheaper and you will have enough supply to last you months.
3. Sign Up for Loyalty Cards at Your Supermarket
It may take months to save up money on a loyalty card but ultimately it will pay off and you can use your points to buy something worth it.
4. Carry packed lunch to work/school
Do not spend that 100 bob or 200 bob on lunch. This way you get to save that money by carrying packed lunch.
5. Do not buy bottled water
If you know you are going to be out and about during the day, you will definitely get thirsty and spend 30 to 50 shillings on a bottle of water. Why not carry water from home instead?
6. Track your expenses
At the end of the day, be accountable for every coin that you have spent. This way, you do not stay wondering where all your money went.
7. Save as little as Ksh. 100 a week
You do not need to save thousands in order to progress. Saving that 50 bob or 100 bob goes a long way.
8. Do not impulse buy
Whatever you spend your money on, make sure it is thought out and budgeted for.
9. Avoid debt
Even if your debt is that 20 bob that you owe mama mboga, that is enough to derail you financially. So avoid debt as much as you can.
10. Buy 2nd hand clothes
If you live in a major town, you will notice that in the evenings there are a lot of affordable clothes and shoes being sold in the streets. Take advantage of this. Another obvious way is to familiarize yourself with cheap markets such as Gikomba and Muthurwa where clothes are cheaper.
Feel free to share your money hacks with us in the comment section.