How to sustain a 'struggle-free' lifestyle on Sh40,000 salary

***Can I save money while living on my own, and still maintain my 'struggle-free' lifestyle?***

I am a 26-year-old lady earning Sh40,000 per month. I have been working for four years now but I have not been very keen on managing my money so I have no savings at the moment. That said, I still live with my parents and I have been considering moving out. How can I raise the money I need for this? Can I save money while living on my own, and still maintain my 'struggle-free' lifestyle? Please help.

**Pay yourself first by saving and investing.**

Yes! You can always save money no matter what situation you are in.

It’s never too late or too early to start managing your finances, NOW is the perfect time. The fact that you have seen the ‘problem’ and decided to do something about it counts for a lot.

The first step towards financial freedom is making the conscious decision to do something about it.

The second step is to identify a goal that you are working towards which you already have, “Moving out”.

Then, the third step is to figure out exactly when you want to move out and where you want to move to. You need to be specific and deliberate about this because this is what matters most. This is because it will determine how much money you need to have saved.

For instance, let’s say you decide to move out a year from now to a house that costs 15,000 a month. You have 12 months to come up with 45,000 for the first month’s rent and two months’ deposit.

You also have to consider things like furniture, utensils and other things that make a house habitable.

You will also need to make big sacrifices as rent is due every month without fail and you will also need to eat and live a normal life. Hence, you will need to make firm decisions on what is truly important for you at this moment in your life.

Moving out is a big deal in someone’s life hence you have to think of so many things like transport to your work, security, and proximity to social amenities. It helps if you can find someone close who has gone through the process and is willing to take you through their experience.

All in all, remember that you ALWAYS have to pay yourself first by saving and investing.

Dr Pesa - Michael Thotho, Programs Manager at Centonomy.

Centonomy is a training company that teaches people how to create wealth through Personal Finance Management, Entrepreneurship, and Career Development. Contact information: www.centonomy.com or call 0700036433