Fresh out of university? Starting off with a job with a minimal salary? You are on your own for the very first time. Reality has dawned on you as you reminisce on the days your parents or guardians showered you with pocket money. Spending every last coin on high end restaurants, clubs, designer clothes, you name it was the order of the day.
Now, you have to grow up. It is time you suit up and understand that in order to enjoy a good and comfortable life ahead, you ought to save and invest your money. Transitioning from such a stage is not the easiest, but it is indeed rewarding.
You should live modestly, save your income and plan on your spending. It doesn’t make any sense living a lavish life that you cannot afford yet. The majority of people who do so have the rush to please people as well as compete with others.
You could end up so deep in debt levels and unfortunately you end up stuck. It is a bad sign when your spending exceeds your income. Saving money for anyone is a very touchy topic today because some people do not know how to control it.
The following tips are wise ways on how you should live for now:
1. Live with roommates
You can even pick some of your friends. One gets to share costs on fixed budgets such as electricity and water.
2. Switch from the shopping mall to the market
For food as well as clothes. Fruits, vegetables and meat are fresher and cheaper in the market. Mitumba are a variety of second hand clothes which are unique, and some even have legit designer labels on them.
3. Stop eating at restaurants
Make food at home that you can enjoy; invite some friends over. Again, why not make your own coffee and skip the trip to the coffee house? The once-in-a-blue-moon-treat-yourself date is okay as a reward for saving.
4. Credit cards is a no-no
Banks are very alluring when they are selling their products to their customers. A credit card will have you feeling rich all day; swiping it everywhere you go. Where it gets dangerous for you is that every time you swipe it, it places you deeper into debt.
5. Pack lunch to work every day
It saves you some good shillings because buying ready food can be quite expensive.
6. Do It Yourself
If you can do it yourself, why pay for it? These include activities such as nail polishing and eyebrow tweezing.