January is here. That month of the year when people are ever broke and sad after heavily spending on the festivities.
It’s that month that reminds you of the bad decisions you’ve been making. It’s that month that seems longer than the other months of the year. It’s called chapter 1 of 12.
Responsibilities are already ticking, from school fees, uniforms, rent, shopping, etc, but the pocket is already torn. There is no need to worry anyway because that’s the spirit of January, commonly referred to as Njaanuary – the month of hunger.
All you need to do to survive this month is to create a proper plan for your finances. The following tips will help you sail through the month.
Prioritize your spending
Spend on the most important things and allocate your money appropriately. You need to suspend luxury and focus on the basic things. Also, when going out shopping, try to compare prices.
This is how you can ensure you are not cash poor after retirement
Track Down Your Loose Change
Hunt around your house to collect all those hidden coins. Also, don’t ditch your change in shopping outlets. Once you convert those coins to cash, you could have a huge sum to put toward your emergency expenses.
Cut down on your bills
Look for a way to cut down your daily expenses. If you live close to your workplace, walking to work is a great alternative to save money on commuting costs.
If the office is too far, consider using public means of transport as they are cheaper than driving your car. Get cheaper monthly tariffs for calls and texts instead of buying airtime daily.
Also, try carrying food to work instead of going out for lunch at restaurants.
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Sell what you no longer Use
Looking around your house, you won’t miss two or three things you no longer use. Some things you can set aside to resell include clothes, shoes, bags, and chairs, among others.
Someone elsewhere is dying to have those products, so sell them. You can sell them online via platforms such as Jiji or Facebook marketplaces or in black markets. Use the money to sort out other things in your life, like bills.
Avoid moving around
The more you move around, the more you spend. Move around only when it’s important. If you look at how much you use fuelling your car or the fare for public transport, you might consider staying home to save on that extra cash.
Find an additional source of income.
If you are a full-time employee, consider picking up a part-time job. You can also consider flexible hustles, such as selling products online. This will keep you afloat as you wait for your income.
