In the midst of these hard economic times, this list of 10 things you should avoid spending money on comes in handy.
Many Kenyans seek easy yet efficient ways to reduce spending and save money, but they are unsure of how to go about doing so. Fundamentally, the best and simplest way to save money is to identify everything that is not necessary and stop spending money on it.
Below is a list of 10 things you should stop or minimize spending your money on.
10 Things You Should Avoid Spending on.
1. Buying Chep Items
That seems to be in opposition to our discussion. You see, when you buy inexpensive products, you don’t realize how much of an impact they have on your budget, but they do. These inexpensive items are the actual ghosts behind your budget, eating away at it without your realizing where your money went.
These products include but are not limited to, bottled mineral water, sweets, coffee, and even snacks. Although you can’t completely avoid buying these things, you can at least limit how often and how much you spend because, in the end, you are still depleting your budget, albeit on unplanned products.
2. Expensive Gadgets
Many Kenyans who own pricey, cutting-edge devices for which they have scrimped and saved a lot of money, have a weakness for the most recent Huawei phones.
These expensive devices, such as high-end laptops, pricey phones, or even music systems, come with a certain level of status among the owners; for instance, many iPhone owners are regarded as being “richer” than Android users.
You can certainly own all of these things, but you must consider their potential value and live within your means if they won’t benefit you in any way than making people stare. You may instead save that cash.
READÂ Top Ten Cheapest Smartphones in Kenya
3. Attending Events
Imagine that, in the order listed, Drake, Etana, Diamond, and Nasty C are all visiting Kenya this week. You love every one of these musicians, but even if you had the money to go to every one of their concerts, you would quickly deplete your funds or blow through your budget.
Although there are entertainment events every week and only a few a month, you must determine which events to attend and which to skip.
4. Consuming Brands
Many Kenyans choose products based on the brand name, and as you are probably aware, many of the goods that Kenyans choose are pricey. This can seriously mess up your budget. As an illustration, consider a bar of soap for washing clothes.
There are numerous brands available, but some are thought to clean better than others. Of fact, there are other lesser-known brands that clean much better and are less expensive, doing the same job but costing less. Take your pick. Tissue papers fit the same example.