Paying rent and saving.
Paying rent and at the same time saving is hard.Monthly rental expense is a not a remedy for savings.Owning a house or a home is also not a walk in the park either.Dreams of buying a house is valid while you are paying rent.However, some twitches in your life are needed.There are tips which can propel you and while followed well you might end up with your own house.
Cutting monthly utilities.
Savings need be consistent.There are expenses which recur every month such as electricity bill,water bills and bus fare.Cutting down on these expenses can help you save more.It will be impossible to live without those utilities but having a plan on cutting down on their usage can greatly improve your savings.
For instance on bus fare, trying and figuring the best time to travel and from work can save a few coins.And when done consistently can increase monthly savings.On electricity in Kenya those using tokens compared to the old K.P.L.C meters actually pay less.Not only do they pay less but the pre-pay option ensures you do not have any outstanding debts owed at the end of the month.
Water is a necessity which we can not live without and used on a daily and in some cases hourly basis.The amount of water used in a typical Kenyan family is much.The water rationing from our suppliers do not help either.Saving this precious commodity can greatly reduce your monthly expense and increase the amount of money that go to savings.
Rethink the way you shop.
Everyone loves shopping,I mean the smell of new things is so refreshing.However the consequence of shopping means less money to save.On household goods try and shop once and this will save you due to the discounts received.On major goods such as furniture or phones try and embrace online shopping.
The advantages of online shopping is that we get to compare the prices and ensures we get the best deal out there.
Eat at Home.
In Kenya restaurants are mushrooming right,left and center.The trick is they come at a cost.Java sounds like a good place to hang out, however the cost incurred there will not help your saving journey.Eating at home greatly reduce this expense as it is cheap to take your meals at home.It is also healthier to eat at home than out.
Do not spend like your friends.
Peer pressure did not cease after high school.Do not follow all what your friends are doing.You do not know where their source of income is from.Competing with your friends on spending will not help your financial journey on savings.Spend only what you have budgeted for and what you can afford.This is to discourage the impulse buying.
I know it is hard with all the hawkers timing you in the streets of Nairobi with the shoe,shirt,trouser or anything you have been looking for.Ignore them for now since once you spend that money you will have none to save.
All those tips are not all they is in Kenya.You can have another side hustle such as online writing among others.Renting do not mean you can never own your own property.This can be a remedy for owning your own house.