x Eve Woman Wellness Readers Lounge Leisure and Travel My Man Bridal Health Relationships Parenting About Us Digital News Videos Opinions Cartoons Education E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise BULK SMS E-Learning Digger Classified The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS
Login ×

You don't have to be mean to yourself to save. We help you find the balance

Money - By Veronica Cherop | January 14th 2017 at 02:59:57 GMT +0300
Photo: Courtesy

We are taught to save money from when we are young. To enhance this, there are many sayings that encourage people to save for a rainy day. It is a good habit to nurture and at the end of the day, your savings come in handy, especially when you unexpectedly lose a job or you have a major project you are undertaking.

This saving culture, however, gets into some people's heads and can become toxic. Their attitude towards their savings will shock you. "I don't think there is anything that can make me 'interfere' with my savings," one woman confided recently. Who or what is she then saving for?

She reminded me of a widow in the village, while I was growing up, who had stacked her savings in a thin mattress that she slept on. One day, she was taken ill and when the people taking her to hospital asked if she had any money to hire a vehicle as she was obviously weak, she swore that she did not have a cent.

They somehow took her to hospital but she never made it. When her room was being cleaned for her final ceremony, neat Sh10, 20 and 50 notes were found arranged in the mattress. When the money was summed up, it was Sh20,000, a tidy sum then that could have bought her a high density mattress, presentable clothes, shoes and decent meals. After her burial, the money was shared out among her four children.

These two women present a worrying trend. There are those who save and are happy to read a swelling bank statement while leading a miserable life. Despite the fat bank accounts, they will complain about how broke they are every time you meet them. They will not buy you even a cup of tea. Do you realise you have such friends that every time you meet you are the one who pays the bill? They need a lesson on why people save money.

You must save with a plan in mind; not just saving because everyone else is saving. It is criminal to deny yourself even a decent pair of shoes because you are 'saving'. When will you enjoy your sweat?

There has been this trending formula on social media about human beings, donkeys and working like slaves. It goes something like; work + eat + sleep = donkey. Work + eat + sleep + enjoy = human being. Therefore, if savings removes 'enjoy' from this formula, there is no difference between you and a donkey.

  2. 1. Why I ventured into selling scents
  3. 2. Five quick and easy kitchen hacks which could save you time, money and energy
  4. 3. Mum shares genius Christmas balloon game to help parents struggling with money
  5. 4. Sh100 and I was all set for my first henna client

Today, you must sit back and ask yourself many questions; why do you save money? What is the point of denying yourself a few life's luxuries just because you want your savings account to grow into millions?

Life is not forever, you are here for a season and you should learn to appreciate it. Do not make your children feel like paupers yet their mother has a lot of money stashed in the bank.

Why we save

· To rescue us when we are stranded...for example, if you fall ill or a family member needs treatment. Even if insurance takes care of the hospital bill, you will need money to run up and down when you have a patient. It should also sustain you in case you lose your regular income until you are back on your feet again.

· For investments. As you save, you obviously have something in mind about what you want to do with your money. As you nurture your savings towards your ultimate plan, you can make the money earn more by putting it in other projects such as securities, land or business. Land, for instance, will give you more money even if you sell it a few days after buying.

· For that dream holiday. That exotic place you visualized yourself visiting when you were young is realizable through savings.

· For retirement. Indeed you need some income when you are no longer able to work.

Top Stories

Men only: Why many millennial marriages will fail...unless
My Man - By Tony Mochama

Queen of rap Nicki Minaj marks 10 years since debut studio album and solo career
Achieving Woman - By Audrey Masitsa

Six reasons why women fake orgasms
Between The Sheets - By Esther Muchene

Six intimacy killers you should know
Between The Sheets - By Esther Muchene

4 ways to break a soul tie
Relationships - By Jennifer Karina

Dry-humping can get you pregnant...even with your clothes on
Health - By Daily Mail

7 Benefits of using eggs for facial treatment
Skin Care - By Naomi Mruttu

4 ways to break a soul tie
Relationships - By Jennifer Karina

The last words of Kyrzayda Rodriguez, famous fashion blogger who succumbed to cancer
Trendsetters - By Lolita Bunde

10 Ways you can use toothpaste to achieve a perfect skin
Readers Lounge - By Davis Muli

Latest Stories

Why I ventured into selling scents
Money - By Sylvia Wakhisi

Struggling Parisian shops get creative to survive in second lockdown
Money - By Reuters

Sh100 and I was all set for my first henna client
Money - By Nimoyo Salim

How to improve your family’s finances
Money - By Audrey Masitsa

How to tell your children you’re broke
Money - By Lolita Bunde

Giving children perfect smiles
Money - By Annie Awuor

I was hesitant to start a business, but fate had a different idea
Money - By Gardy Chacha

Six tips for a successful home-based business
Money - By Pauline Muindi

From hawking shoes to owning a busy shop downtown
Money - By Sylvia Wakhisi

How I did it: Dr Jennifer Riria’s lessons learned lending money for 19 years now
Money - By Peter Muiruri

Stay Ahead!

Access premium content only available
to our subscribers.

Support independent journalism
Log in
Support independent journalism
Create an account    Forgot Password
Create An Account
Support independent journalism
I have an account Log in
Reset Password
Support independent journalism
Log in