Majority of Kenyans are struggling with the need to live a luxurious lifestyle yet be financially fit. For example you want a car, house, trips abroad and latest gadgets yet your income cannot cater for that or you have all that yet you are struggling to pay loans.
As Benjamin Franklin once said, “Content makes poor men rich: discontent makes rich men poor.” The first secret to financial fitness is being content with what you have.
Here are the rest of the secrets:
- Create a budget
- Track your expenses (known and unknown). Examples of known expenses can be rent, car fuel, school fees while examples of unknown can be the egg you ate at the roadside, the bottle of water purchased when it was too hot or even the umbrella you bought because of the impromptu rain.
- Avoid impulse buying. For example buying a shoe just because it looks pretty not because you need it.
- Reduce your debt or avoid debt altogether. For example taking unnecessary loans from friends, family or the bank.
- Save, save, save and when you are done saving, save a little bit more.