Well, January is here with us again and that, according to many, means endless pain and agony. After the festive season, many Kenyans normally end up having empty pockets and zero clue of how they’ll get through January.
Surviving this month with money won’t be easy but here are a few things that will help you out.
1. Create a super realistic budget
You want to coast through January and make it out in one piece if you are broke? Have a budget that is strict and very much realistic.
Eat the cheapest foods you can get, walk instead of driving or using matatu, and remove almost everything luxury from your list. Internet, TV gym subscriptions, shouldn’t be paid.
2. Forget saving for a minute
You are already deep in mud. Your first instincts should be surviving and getting your footing back. Once you have done that then you can start thinking about your saving contribution.
It won’t make sense for you to be thrown out of your house yet still put money aside for your savings plan.
3. Use cash instead of Mpesa or card
Paying with cash can help you stick to your budget because you can physically see how much money you have left. It also saves you the extra charges on Mpesa cash payments.
4. Resell what you don’t use
How many times have you used that blender? Or that freezer? Decluttering will help you raise cash so sell whatever you don’t need and use that cash wisely to get by January.
5. Take responsibility for your actions
This is just one January but definitely not the first nor the last. Therefore, take a look at where you went wrong and plan accordingly.
6. Avoid unnecessary loans
Sometimes, you are pushed against the walls and forced to go for that loan. However, this should be the very last thing on your mind. Getting a loan to get through January can ruin your year financially if not careful.
7. Stay at home
Stay still if you want to make it out of January. Avoid parties, unnecessary meetings with friends that might result in more spending. In short, stay at home and read a book and there won’t be any more regrets.