Money management has always been a problem to many Kenyans, probably due to numerous needs and expansion of the family. However, this shouldn't give one a reason to live a life of financial struggle consistently.
Here are 5 tips on how to never run out of money;
1. Live modestly
The very first thing you'll need to do is live modestly. Living a modest life means living according to your means. There is no point trying to live an expensive life when what you earn is too little.
2. Budget for healthcare costs
In Kenya today, people tend to spend a lot of money on health alone. NHIF is a program you should run for to avoid spending a lot of cash in hospitals that drain your entire savings. Register for it and pay a few shillings a month to avoid too many expenses on health.
3. Find a part-time job if you can
The best way you can support your normal salary income is by finding some part-time job to do. Such jobs won't take much of your time and energy but can really make your money last.
4. Ensure you are properly insured
Insurance has always been a good idea. From your own health to your assets, you need to be insured. Your car, businesses, houses all need to be insured to avoid future enormous expenses in case of damage.
5. Do not be obsessed about profit
Do you own businesses or planning to launch some? This is a good idea as a business is a way to go in Kenya currently. But do not be obsessed with profit to a point that you invest much of your money in a business that fails to work. Do not let profit mislead you to investing your savings in vain.