My saving method. Its for dummies but works well

Previously I used to save what is left after spending. Unapata end month mshahara imeingia poa but kufika 20th you can’t believe what has been left. This cycle continues Jan to Dec na mwaka inaisha na hakuna kitu ya maana umefanya.

So this year I decided to change. I made a monthly budget. The first item on the budget is savings. This time am spending what is left after saving. And my spending is gen

I have like 10 categories of expenses. (water, electricity, transport, food, clothing, entertainment, miscellaneous etc) each with its own budget amount.

Mshahara ikiingia hivi, I withdraw the entire expense amount and leave the savings in the bank. Then I have 10 envelopes for each expense item. Naweka pesa kwa kila envelope depending on the budget and lock the envelopes kwa safe. After @mayekeke aibiwe $3000 na mboch kuhepa nazo Bukavu nilijua umuhimu wa safe.

So anytime Nikitaka pesa ya entertainment, clothing, fuel etc naingia kwa bahasha yake and withdraw. Pesa ikiisha katikati ya mwezi inamaanisha ni kujipanga.

So far so good. Sijajifinyilia na bado am saving well. I advice you try this even for one month you will notice savings zimepanda

are you by any chance from wakanda?

save 200bob daily, by the end of the year ,you’ll have 72k my friend.

Nice one…Saving requires a lot of discipline. Utaambiwa mbirrionares dont save, they invest.:smiley:

This I will try. Shida ni sina mshahara. Lakini nawesa toa kama fifteen % kwa kila invoice niweke huko Mimi huwa member, balance ijisort. Wacha tuone

Great. Pia standing order huwa poa. Inakatwa automatically inarushwa savings account

wewe hunua clothing every month? ama ni za Okiya Jr?

This is a good idea but I don’t have the discipline keep money in my house. Instead I have an expenditure acc , savings account and businesses acc.

Nice strategy.
My savings strategy is
1st week pesa ya rent.
2nd week food, entertainment and other expenditures.
3rd week savings.
4th week more savings.

I don’t save na si kukataa. I normally set aside an amount for family related expenses then all the other income goes into projects, leaving nothing for savings though I maintain the bank account above a certain float in case of emergencies. I think the trick is to diversify income streams and try to gradually move from salary based earnings more to dividend/income from investments.

Wow that’s like so much money!

What if you get your income on daily basis yet the amount is not predetermined?

Saving small amount however the amount makes alot of difference by the end of the day

You have to pay yourself first. The rest of the bills will sort themselves out. But Okiya, isn’t it risky to withdraw and walk around with large sums of money?

Punch kila siku si mbaya…

Join a Sacco,
A good Sacco,
A secure Sacco not those merry go round things people do with friends.

Pia mimi hu-save kwanza halafu na spend kitakachobakia.

Watu tunalipwa 25k tukae mbali na hii …we barely surviving outchea

Ka uko solo you can still make it work.

I work with percantages,10% per month will be strictly for investing, another 10% for paying outstanding debts.That’s paying yourself first.I requested a standing order from the bank to move it to a savings account.I think the best way of working with money is by using percentages and you can adjust accordingly if one takes over the other