1. Avoid eating out every other time
It’s understood that most of the time, we don’t spend time in the home especially during the week. We spend a lot of money buying food from restaurants. If an average person spends ksh. 400 for lunch on the streets everyday, how much do they spend in a week, in a month and in a year.
The best remedy is to cook your food in the home and carry it to work. Take your time and prepare some simple food in the home, this culture will save you a lot of money.
2. Extravagant kind of spending
Carrying all your salary in your card is the easiest way to spend all your money haphazardly. The wisest thing to do is have an account where you can place some of your money ones deposited in your account. It’s the easiest way to manage your salary or earnings. All your cash shouldn’t be in your card or not else you will find yourself spending on things that are not important.
3.Not keeping account of all you daily expenses
Keeping account of all your daily expenses will help you easily cut on unnecessary expenditure. The coffee you buy, the shoe you bought that you hadn’t even planned for. When you realize how much you spend, you will begin cutting down on your daily expenses.
4. Lending money to wrong people
It’s not bad to help a friend in need if you have the means but the easiest way to loose money is to lend it to the wrong person. Even of you like to show charity, be careful so that it doesn’t become a weakness. Lend your money to people who you will confidently go to them and ask for your money.