Thank God January is done and dusted! Sadly though, the 'njaanuary' effect is still being felt halfway into February. The high inflation rate especially in food commodities like tomatoes and maize flour has got peeps in messy financial situations including taking up multiple loans. Unapata msee akona loan, takes up another one from a second lender to service the first one, before he fulizas to get by. It's common to hear people say ' nitumie kwa ile namba ingine hii iko na fuliza.'
The Secret is living within your budget and foregoing the need to borrow to finance your lifestyle. Goodbye impulse buying, hello shopping list! Here's a guide to how you can minimize on expenditure and save some money.
Food.
Arguably one of the most expensive things this decade, we've gone from Chapo za 10 Bob to buying a tomato at 30 shillings. Nowadays, a hundred bob isn't even enough for milk and bread. One way to cut costs on the money spent on food is minimizing those trips to the restaurants. Eating out is fun but very expensive, you can replace this with nicely done home meals. Carrying packed lunch to work or school is a brilliant idea.
Another don't is buying all your commodities at one place, it's wiser to buy veggies in an open air market as compared to a supermarket.You might also want to compare prices at different stores and go for the best deal. Ever given urban farming a thought? A kitchen garden might come in handy .You can also put that balcony into good use and grow spinach,nyanya and skuma in sacks or bags containing fertile soil. They require minimal supervision because you just need to water the plants before you leave and when you get back in the evening.
Housing
It's advised not to spend more than a third of your income on housing. Consider downgrading from that expensive hao and saving the extra cash especially if you plan to own a mansion some day. Also saving energy and water resources will help in reducing the bills.
For students, campus hostels are much cheaper than renting outside the school . However, some institutions don't allow students to make their own meals in the hostels, meaning you'll have to frequent the cafeteria where food is not exactly good. Calculate and compare the cost incurred on cafeteria food Vs the cost of living outside school ,then go for the cheaper alternative.
INTERNET AND ENTERTAINMENT
Regular access to good internet connection is slowly becoming a necessity in the world we are living in, from students doing research for their academic essays, to employees staying on top of their work while at home. Ditch the daily data plans for a home internet connection or a monthly data package from your mobile provider. Looking for cheaper deals for both calls and bundles should be your priority.
Pia Kuserereka every weekend is not a must, you can turn up indoors and buy your drinks at the liquor store, it's much cheaper that way.
SUPPLEMENTING YOUR INCOME
During this tough economic times,it's advisable to have a side hustle. Online writing jobs and other micro internet jobs are a good start for students. You may also consider weekend activation jobs. Kuwa mjanja and look for other alternatives to earn more mulla. Kemea Msoto!!
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