It is that time of the month, our bank accounts are swollen with salaries. It is December so afew of us got our bonus early. Now we want to buy everything or we are scared it will not be enough. For me I go with the scared bit. My salary has not yet hit the account; good timing it is still early as I get paid by 5th. I am however not getting any bonus yet and he month of December scares me.
We have to buy gifts, we have to organise trips, in kenya we have three holidays this month.
Over the years I have come to a simple budget, 20% save at times I do more, but who are we kidding this month that ain't happening. I pay rent, buy food, pay internet, phone, electricity, and water. I remember to put aside expenses like (transport and weekly groceries) anything after this is a luxury.
For this first post, lets go back to a few years when my monthly income was 40,000 KES. In writing this I am trying to show you how much you can achieve by starting where you are.
After saving 20% and catering for my needs I would have been left with enough for entertainment and to buy one cloth at that time. But my emotions could not allow. So for that whole year, I worked and spent and in the end I had nothing to show for it. Maybe, we are allowed to make such mistakes when we are starting out. But if you found your way here, then you must have been looking for advise or you are wondering whether it is possible.
Yes, it is. Over time I will share spending habits one can adopt over time to reduce the bulk of your spending , increase your savings and still not deny yourself. Want to get your self that gift you have been admiring on the display. It is possible. We just need to change your spending strategy. Maybe even teach you a few new ways of making extra cash on the side.