The one problem Kenyans have is the fact that they can never get enough of anything… they will always want more.
Hence, once they get money, they insist on spending it ASAP, leaving them broke and resort to means such as Fuliza and Tala. In Kenya, being broke is second nature.. it doesn’t faze us anymore. Becoming broke is like a disease, a virus whereby people live beyond their means.
Many people are usually under unnecessary pressure whereby they can’t say no to spending too much money. It starts with your friends saying let’s go for lunch or we have this event can we go? If you’re a yes person then perhaps you can relate to these things that are making you broke without knowing. If by the second week of the month you’re wondering why you’re broke and you have no real responsibilities, you need to rethink your financial decisions.
1. You don’t have a budget
If you don’t have a budget what exactly do you expect? You can also have a budget but then if you don’t follow it then you’re not really doing any justice for your account. Write a detailed budget that will factor everything in, including savings and airtime.
2. You’re living beyond your means
This is the biggest problem most people have. Know what you earn and don’t struggle in the name of being popular. If you know you can’t keep affording taxi’s then it’s time to know which matatu will connect you to your place.
3. You overspend on airtime
Unfortunately having mobile money has become a problem for many people. You keep buying airtime in bits but you actually end up spending more. Buying your credit in 20s and 30s doesn’t make sense, you end up spending a lot more. Subscribing to an affordable data plan like Airtel makes a lot more sense. You will obviously use a lot of money on data while uploading your IG photos or those long WhatsApp videos. However, with a plan like Airtel data plan you can actually save money because most of their data plans offer free WhatsApp, imagine that?
4. You’re an impulsive shopper
If you keep buying things online then it is time to deactivate your mobile banking app and stop buying things you honestly don’t need.
5. You never save money
Just save money because a wise person understands that a rainy day could come any day. Whether you have your own business or you’re employed you ought to put some money aside either for a particular goal or in case anything bad happens.
6. You drink too much alcohol
Obviously, alcohol takes a lot of your money. If you end up going out all the time you will most likely spend too much money, cab fare and food. Treat yourself once in a while if you’re not rich enough to keep throwing your money around.
If you’re always broke and you don’t have something important you’re working towards, take several seats. It is up to you to straighten your finances, take charge of it and stop singing the same broke song every month.