In 2019, the world was hit with Covid-19 and what followed were measures that financially affected everyone.
As we recover from the aftermath of Covid-19, one of the most important things we have to master and develop a heart to save for different goals such as emergencies, school, car, house, wedding, vacation and many more other goals.
Here are a few tips you can adopt to help you with saving Goals.
- Control yourself: You need to know your weakness and work towards addressing them. Respect your goals and if you plan on doing something, stick to the plan, unless otherwise.
- Pay those you owe: You cannot freely save money if you are owing institutions or people. The best way to start saving is to first eliminate your debts and once you do that, you will no longer worry about interests or people calling at night looking for their money.
- Set saving goals: Like explained kumwambako, it’s good to know why you want to save. You can have multiple goals and dedicate a percentage to each.
- Avoid unnecessary movements: Cutting down on unnecessary trips will have a huge impact on your savings. Each time you leave your house, you are forced to spend. Kaya fuel, ya Minibus, ya njinga, kachakudya, kachakumwa, tima bundle ndi zina zambiri zomwe zimapangitsa ulendo uja kutheka. It’s good to only go out when it necessary, otherwise, stay home.
- Learn to budget: Ndalama ikalowa sikuti ingopitilira yonse. Sit down, make a budget. A budget helps you not to spend more than you have earned and budget helps you to differentiate NEEDS from WANTS.
- Stay Healthy. It is only when you are healthy that you will be able to work and do your business. Being healthy also means you will cut down on your medical bills. Osangoti lero zindoko, mawa mabomu etc, ndalama zithera mankhwala.
- Downgrade where you can. From moving to an affordable apartment, driving fuel efficient vehicles, sending kids to school you can afford posayang’ana kuti wa aneba wapita kuti. Mukakhala ndazanu kugula mowa moti asakutameni and many other things you can do to live a simple and affordable lifestyle. Ngati Nike wa original sitingakwanitse, wa Tunduma alipo.
- Buying things in bulk. Zinthu zogula zambiri pakamodzi zimatchipirako. Even data, kugula yambiri at once is cheaper than kumagula pang’ono pang’ono. You end up spending more money over time. Siyiwoneka because ikuchoka wezi wezi koma at the end of the money, you spend more.
All the things above and more others such as small family, one partner etc, help you to reduce expenditure and save money. Ndalama yamvuta, we need all the discipline to save it.
Next topic (Part 2): How to save money effectively. Looking at different methods.