January is a dreadful month for many Kenyans as it is considered one of the longest months of the year.
Long because of two things: it has 31 days and because after the festivities of December most people tend to spend all their money then without thinking about the coming month. However if you are psychologically prepared for this month you can accomplish so much more than you could imagine. Today we speak about 6 ways in which you will not only survive January but also live fully both as an individual and in business.
The common trend is to spend money first before saving as you pat yourself on the back because of all the hard work you have put in to get there. However in order to survive the 90 days of January(pun-intended) each time you get some money put aside some for a rainy day and then spend the rest. An easy way would be to use the 40-40-20 money rules, save 40% of your income, spend 40% of your income and invest the 20%. As a beginner, this will be a great start.
To attain financial stability you need to be disciplined with your budget. Keenly observe the things that you spend your money on and for January focus more on the needs rather than the wants. Ensure that all your needs are catered for before you can use some money on wants that you can live without.
Whether you are shopping for your house or you are stocking up your business, it is important for you to come up with a list of all the things you need before you embark. Calculate all the things that would take you throughout the month so that you can do the shopping at once. Bulk shopping helps you bargain for better rates as opposed to shopping for singular items. At the same time the less you go out to shop the less you are tempted to buy things impulsively.
Technology has facilitated the development of tools that make life easier or more bearable. Now tracking your expenditure does not have to be a tedious and hectic job anymore as there are applications that can help you do that. For example, Pesapal mobile is an app that you can use to pay your bills such as electricity, Tv & internet, buy airtime, buy event tickets, book for holidays, flights and hotels. Within the app you can track your spending activity which helps you to understand where all your money is going. The app allows you to do all these without paying any transaction fees.
Now is the time where you should be on the lookout for the best deals. During the month of January the spending power for people is reduced a bit. As a business you should look for interesting deals that can encourage your customers to come to shop with you. People can rarely say no to a good deal, give them value for their money and some extras. That way you can be sure that you will still be in business even during this month that is usually considered financially dry.
There is always a silver lining in every dark cloud. At the beginning of the year we all like to come up with new year resolutions, one way of making January an exciting time for you and your business is by coming up with short term goals that you can easily achieve. It will give you great pleasure when you achieve something that you had set out to do and it will motivate you to keep working harder so that you can achieve even more. This way without realizing it you will be a few steps closer to achieving your new year resolutions.
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