Investmenting for the future
The journey towards investment
Investment and saving has always been a tough decision to many low income earners for they usually get just little to maintain them through the day but do you know that sometimes we consume more than we need to? For example, when I was in campus and would get my monthly allowance I used to know the best plug points around the campus where food is expensive than the common place where I would hang around when the semester was at a corner. This is called consumer impulse, since I got the money why not do this without really evaluating the consequences that will follow. This led to me wasting lost of money that I now realise that I would have saved or invested and probably now I would be enjoying the rewards or interests from the investments or savings that I had made. Therefore investing doesn’t really mean that you need to have a surplus but you can create that surplus for yourself and invest or save. I know the question that follows that statement is how? One is by using the little income that you have wisely. To give an example buying food at a fast food and cooking at home. Using this case example you’ll realize that getting your food at a fast food when you can cook the same food at your house is more expensive and reduces the surplus or amount that you can invest. Therefore imagine a case where I’m going to eat ugali and vegetables from a fast food at Ksh 150 and I can cook the same at home for Ksh 80, this means if I go with option two cooking I’ll have spent Ksh 70 lesser than if I took the food from a fast food joint. I don’t want to say that we should not take out food from time to time but lets minimize them. So having spent Ksh 70 lesser I’ll have created an investment capital of the same value unlike when I take out from the fast joint. Another case study is the January period, we know that after the December festivities many people are left pockets dry and most of them accrue a lot of debts for they lacked a financial plan during the period of festivities when the spirits were high. You can start saving for your January as early as January. What do I mean if you start on minimizing the uses of income that is not really necessary and save you might get a good saved up amount that will save you coming January even if you had spent your December salary on festivities and fun. Again, investments and savings doesn’t mean you don’t need to have fun, no, go out from time to time and have fun but again not too much fun that you over spend. Moderately have fun and keep it in mind that you also have tomorrow to mind about. Therefore January should not be a hard month for us, we just need to have a saving/investment plan for yourself and be disciplined with it. If you decide to save up Ksh 50 per meal make it consistent and be diligent in the actualization of the plan. Do you need to know how you can start on this plan as early as now, get in touch and we will guide you through investments and savings plans.
Educative, yes it’s an eye opener 👁️