Your personal finance

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The hardest part about changing your spending habits is simply getting started. You see, it is interesting to observe how one lives a frugal life when they do not have much money but somehow all the spending gates open when you get your salary or any windfall. One lesson is that you can live a happy frugal life when you have all the money to spend than when you really are struggling financially. In the latter case, frugality becomes no choice but a necessary pain.

But my turning point was this other day while relaxing in my hotel room in Blantyre. After a heavy workshop day, I was watching a movie and saw how this other character would pay for food and drinks which he would hardly finish. He would open a bottle of coke and then leave it half full. He would order a meal at lunch and would only eat half of it. This actor reminded me of my own habits. Quite often, I have ordered food and other things simply because it is time for lunch or breakfast or supper—even when I am not that hungry. I have sometimes bought newspapers while putting up at a hotel when there are complimentary copies at the reception desk.

After the movie, which I didn’t quite finish because I had mostly been thinking about my own spending habits, I told myself it was time to review my spending—this was going to be a marathon. The following day, I kept that thought on my mind, and instead of going for a full lunch, I took a snack because I already had a heavy breakfast. Instead of buying newspapers, I asked for hotel copies which I read and returned. While in town, I saw a good economics book but decided to read the many books on my home shelves that I am yet to go through. That night, I thought about what I had saved. I estimated I had saved over K7 500 just by doing things a bit differently that day, and I slept like a baby.

Tomorrow morning, when you wake up, make a one day commitment to living in a more frugal fashion. You may want to try the following things:

  • Take your lunch to work/school instead of eating out
  • Make sure that as many idle electric and electronic devices as possible are turned off when you are in or leaving your house. Just look around and see how much electricity is being wasted.
  • For entertainment, do something with little cost, like reading a book you already have or going for a walk with children, instead of having a beer or going to the cinema.
  • If you would normally go out for celebration dinner, invite friends over to do something at home instead, such as playing a board game or have communal dish of ‘nsima with nkwani wotendera’
  • Prepare and eat supper at home using only what’s in your stock
  • Evaluate everything that you purchase, and don’t buy anything frivolous.

At the end of the day, as you’re about to fall asleep reflect on the money you saved throughout the day. Even if you saved just a little bit of money, you will probably surprise yourself in terms of how much money you have now that you wouldn’t have otherwise. Then, consider trying it again tomorrow. After several days, some of your new routines will start to become old habits and your bank account will thank you with huge balances.

Blessed weekend to you and yours!

 

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