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5 ways to survive high prices without hurting your pocket

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Every person is complaining of rising prices of essential commodities. The high class, middle class and the low class are all suffering.

Fingers are being pointed at hidden forces. Tea has become a luxury for many, while ugali is becoming the rich man’s food. Dinner invitations are diminishing, as no one wants to accommodate an extra mouth.

Below are some ways one can easily use to make it through without much stress:

Live within your means

This entails reducing your budget to reasonable levels. This can be achieved by making a list of all the things you buy whenever you go shopping, then cross out the things you can do without. For instance, if you buy a bottle of soda when thirsty, it’s time you started taking water which, in fact, is healthier.

If wine doesn’t add value to your life, it’s time you gave it a break. Also, use your private car when only essential to reduce fuelling and maintenance costs.

It will be hard to forgo some habits, but it’s one of the best ways to survive hard times.

SEE ALSO: The force behind high food prices

Create new income stream

Side hustles is becoming the order of the day for the working class. It is one of the best ways to supplement your income without taking loans that will give you hard time to repay.

During your free time you can engage in income generating activities instead of wasting time on social media. Such activities include freelance writing, businesses, part-time jobs like teaching, consultancy services at a fee, writing your own blog or even managing campaigning for politicians.

This is not the time to pretend that you care so much about where your money comes from, after all it is not marked where it comes from and no one will ever give you free financial support in this era.

Think of what you are best at and do it during your free time, or even steal some time off your routine to make an extra coin. This way, everyday will be a payday for you.

Bargain hunting

It doesn’t matter where you bought it, how much you bought it or who else bought it. All that matters is that you have it. Look for places where you can do your shopping cheapest, without compromising quality. There is always a cheaper seller somewhere with the same quality of product you want. Look for him/her. If it is bargainable, make sure you buy it at the least price possible.

Also, it is advisable to shop in bulk. Wholesale prices are always cheaper. This will save you some notes that can be used elsewhere.

See Also: Safaricom investors to get Sh38 billion in dividend

Avoid going out

Every friend you meet out believes that you earn a lot of money, and you must spend it with them. Many people do not realize how much they lose every weekend they go out.

Instead of going out, you can use that time to do something else useful like having a new hobby or spending time at home with your family. In a nut shell, avoiding going out is another way of living frugally.

Avoid loans

There is no promise that you will be paid more tomorrow, hence a loan will make your life desperate. Every time you borrow you have to repay, and every time you repay you get broke; and every time you are broke you have to borrow and the cycle continues. This creates a borrowing habit in you.

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FRANCIS MULI
FRANCIS MULIhttp://www.businesstoday.co.ke
Editor and writer, Francis Muli has a passion for human interest stories. He holds a BSc in Communication and Journalism from Moi University and has worked for various organisations including Kenya Television Service. Email:[email protected]
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