Best way to Save Money using these Cost Cutting Measures

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Best way to Save Money using these Cost Cutting Measures

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Best way to save money using these cost cutting measures.  Most times it feels as if life is a series of bills. If it’s not the phone bill, gas, electricity, internet, then of course the weekly trip to the supermarket or “mama mboga”.

For those driving, let’s not even get started on the cost of petrol and running a car. Those using “matatus”, it’s not funny! Don’t think you are better off either. The cost of fuel always gets your fares way up not to mention when it rains and you have to go all the way to Rongai.

Since ducking this expenses may feel like a game of Russian roulette with all the bullets loaded, the best way to save money using these cost cutting measures may just be the difference between life and death in our case.

These cost cutting measures should help you work towards making your bills smaller each month.

Most important, always make sure you have the right product. Shop around and compare the various offers from the different sources or suppliers. For example, if you are looking for internet subscription shop around for the best and cheapest offer before signing up. The same goes for phone service providers. Check out the deals on offer and choose the one that suits your needs and the best way to save money. Think about how you use the phone and what’s right for you.

Here are a few best way to save money using these cost cutting measures:

  1. Consider fixing your phone Bills. Some telecom service providers offer fixed-rate contracts that let you lock in the price. Usually the tariffs on fixed plans are slightly higher than those on variable plans. Fixing can work out cheaper than variable rate deals as there’s often a discounted incentive to lock in.

The downside is that you’re taking a gamble on how call prices will move in the future (not that they appear likely to fall any time soon).Watch out for fees that apply if you bail out of a fixed-price contract early.

This may apply to internet as well. You may be buying 1GB for 100Ksh daily for a whole month thinking it’s the best way to save money. This actually costs you 3,000Ksh a month and possibly way more higher when you go passed your daily 1Gb limit. If you love YouTube, you may be hitting the 1GB daily limit pretty fast (HD videos longer than 30 minutes can be more than 1Gb in size, meaning this will only allow you to watch one video).  When you go passed your 1Gb limit, your internet provider will love you for that and munch all your remaining call credit for any internet used above the 1GB limit. This is the secret they never want you to know.

The best way to save money on your internet may be to get a monthly contract costing less than 2,500Ksh for unlimited internet. This will serve you better and it’s usually faster and more user friendly. It’s even cheaper when shared with others.

In a house hold that more than one person has bought the 1Gb for 100Ksh, it may be silly since that works out at 100Ksh x (the number of people who have bought the offer). This is more expensive than sharing the unlimited internet on a monthly contract.

  1. Ask for a discount. Cost cutting measures on big-ticket expenses like insurance.

Most people get a better deal simply by asking for it. Shop around, there are plenty of insurers that will offer new customers discounts of more than 10% when you arrange and pay for the cover online.

  1. Have an Alcohol & “Nyama Choma” – Free day … or two.

Cracking open a bottle of wine each evening is an easy habit to fall into. But it won’t do your health, or your finances, any favours. Skip just one bottle of Black Label a week to save around Ksh3,000.

Cutting down on your booze and “nyama choma” fun time is one of the best way to save money and better your health too.

  1. Reduce Waste. Food waste costs Kenyan households between 10,000Ksh and 30,000Ksh a year – that’s a minimum of around 200Ksh each week! The best way to save money and reduce food waste is by:

– Buy quantities you will use.

– Plan meals and cooking only what will be eaten.

– Use leftovers for school or work lunches.

– Be creative – add excess cooked veggies to your dinner or lunch. Recycle spare slices of meat or veg to a tasty stir-fry. Use loaf crusts to make breadcrumbs, and turn over-ripe fruit into delicious smoothies.

– Clear out your fridge, freezer and food store by using up what you already have.

Best way to save money by means of cost cutting measures shared here will go a long way to helping you manage your finances better and spare some cash for you to save on your investments.

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