It’s Friday again, and as is common, we are prone to making bad decisions well into the long weekend we have ahead of us. With a series of various activities, events and parties planned, we delve into financial discipline and money saving tips that are important to adopt. 

With saving, every shilling counts. There can never be too little, neither can there be too much to save. Contrary to popular opinion, you do not necessarily have to save from set denominations like Ksh 1,000, but can save from even Ksh 5, to as much as is possible.


To start saving, it is important to have goals that keep you accountable to yourself and give you a sense of direction keeping you focused on what you are working towards. Here, short term goals are those that you can achieve in a short period of time, while long term goals span over a longer period of time. In creating a savings culture, it is advised to save before spending, set achievable financial goals, and starting small. If possible, automating savings is a good thing to do, and ensures that a set amount is not even touched for spending.


  1. Save As You Earn

We know about PAYE, in paying taxes, but did you know about SAYE? Here, it is advised that you SAVE FIRST. With every income, priority should be given to saving, and that shouldn’t be too hard, no? In our last blog post about budgeting, we advised that savings should be considered whether or not a rainy day is in mind. Alternatively, with the advent of very many financial schemes, find out what works for you and is aligned with your financial goals.


  1. Consider the cheapest options in money transfers

How do you handle your mobile wallet, in various transactions?

With Kyanda, we offer you up to 70% reduced transaction costs in money transfer – how cool is that? With every shilling saved, that can be channeled into other uses and/or savings, and is a step towards financial health!


  1. Use a piggy bank

Most times, to introduce a saving culture to children early on, we encourage piggy banks, where they drop the coins they acquire from wherever. A piggy bank is also important to an adult and should be more common than is! Emptying loose change into the piggy bank time and again will definitely fill it, and that can be transferred into your money account when that happens. Haba na haba hujaza kibaba.


  1. Save your lunch

Buying food every day is expensive! Say, if a day’s lunch is Ksh 200, carrying packed lunch saves you Ksh 1000 every week. Think about it.


  1. Use public transport

Fuel is very expensive, and if you do not have to, park the car and jump on the matatu instead of driving to your destination. You save so much, and a win is a win!


These are basic tips, aren’t they? Try them one at a time, consistently and see how that changes your saving culture.


Have a lovely weekend ahead!


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