Kindly help out a brother on how to go about it
kula sumni weka sumni
Where is it wise to keep that sumni(saving)
kama ni kidogo unaanza na mshwari, ikikua kubwa kiasi unarusha huko faulu na rafiki…kama uko ocha save kwa kuku na mbuzi na ngombe ile pesa extra. usiingie sacco
Join a Sacco then put a standing order from your salary account, say you want to save 10K per month. Sacco’s mostly don’t allow you to withdraw you savings, unless you’re withdrawing membership. So it’s a good place to save your money. When you need some 50k emergency and you’ve saved say 300K, you can always borrow against your savings, without the need of a guarantor/ collateral.
Njia nzuri ya kufanya saving ni 80/20 maana ya kwamba 80% ni psychology au mindset yako na 20% ni saving yenyewe
Hivyo ukitaka fanya saving first and foremost deal with your mindset kama akili yako inaona ni ngumu basi badili hiyo kisha ukisha badili mindset kusave hata kama ni pesa kidogo unasave bila shida. Ni hayo kwa leo . EID MUBARAK
Be disciplined
The only way forward is by living on what you barely need. Do a search on service providers and catch the best deal, pay your bills, buy fresh food huko outskirts, don’t live in areas just for the name, don’t buy a car for the name, don’t take your kids to expensive schools for the name…in short do your own thing…
I wasted a lot of money kule malls back in the day. Buying clothes, handbags, shoes, utensils, beddings that I did not need. Money that I could have saved.
Now I have a lean wardrobe, just what I need to wear, my furniture is ‘minimalist’ and my finances have improved greatly. Start by cutting back what you don’t need and you will be amazed. Even if it is 1000 shs a month, at the end of the year you will have 12k. We are facing some bleak times with Rona so you are on the right track…
Save and spend… Don’t spend then save…
Make sure surplus cash n’a wewe I kama maji n’a mafuta it never gets or stays in your pocket otherwise utaanza kuskia craving ya pizaa yet ujawaikula pizza…
Fungua hekima savings account pale coop haina mpesa,atm card wala ussd card linkage unawithdraw 10% interest in 3 months. Your choice anyway
Set targets for yourself. Say in 6 months time I need to have X money in my account by all means necessary. Then also the easiest way to save is by increasing your earning capacity. If your wife is working both of you can decide to save 100% of one salo and eat the other person’s salary.
Fungua mshwari lock savings. Anza kidogo kidogo. Once you get to say 10k, you’ll get motivated and there’ll be no looking back. Within no time, utashtukia uko 100k, 200k, 300k. Ukifika 300k sasa move to coop bank iyo hekima imesemwa hapo juu. But what I’d really suggest is you split your money into three portions; expenditures, expenditures 2 and savings meaning expnditure 2 is for emergency and savings is completely savings
Let me share some psychological tips for saving:
- Harness the power of pre commitment. Have a binding contact. e.g. joining a sacco where you have a standing order with them.
- Use transition moments to your advantage. - my transitional moment is always thinking about retirement. Each passing day you’re getting closer to retiring.
- Get a handle on small frequent purchases. Drinks every weekend?
Savings account. Huko huwezi withdraw hadi 6months to 1 year iishe
Lakini usijinyime sana hii pesa unaeza achia watu wata miss use
As told above. Sacco is a good way. An alternative is to purchase Treasury Bills if you have more than 150 k. If you have way more and thinking very long term, get into Bonds. Also boost your earning capacity. If a masters costs 300k, but you can talk to your employer to give you a 10k a month raise, your ROI is 4 years. It’s worth it.
Maybe @Nanyundo can contribute with a few good ideas.
Or @uwesmake the financial analyst from Kayole slum Nairobi.
Or @kijanamrefu the wedding photographer with 43 years of experience. Maybe he knows something he can teach the young ones.
Mbona una save na rona inakubeba in a few months.
Have you used that co-op hekima a/c before
Unaweza pia jipa 1 month where u spend kama kawaida but this time write or keep receipts of the purchases religiously. End month review hio list utastuka zile mashimo chapaa hupotelea…then make changes.