I use 2 bank accounts, one for saving and one ya matumizi ya kawaida. The one natumia na savings swezi access through mpesa or ATM unless I go to the bank, that makes it harder to spend saved money.
- avoiding unnecessary expenditure
- buying data bundles in bulk ama kua na home fibre personally hununua 25gb ya jtl for 1k
- Mshwari lock account 52 week challenge.
60/40 savings rule on all earnings/income. 60% Expenditure (Basic needs + Fixed expenses) 40% Savings (10% for retirement, 10% for long term savings, 10% for short term savings/irregular expenses, 10% for miscellaneous/fun money).
long as you earn, you can save… hio upuzi yote wanasema usiskize
The trick to saving is that you must:
- Live below your means.
- Budget for every coin and avoid impulse
spending. - Join a sacco to put at least 5% of your
money as shares. You will also be
taking soft loans here. - Open a bank account to be saving large
amounts of money and for major
business transactions. - Avoid being too generous to friends and
relatives.
I have given here the best option on how to save and get rich very quickly
https://www.kenyatalk.com/index.php?threads/how-to-save-money.151703/#post-2763044