Small Changes, Big Wins: Smart Saving Tips Every Kenyan Youth Should Know

Lisa, a young professional navigating the dynamic life of Nairobi, had big dreams. She wanted to own her own home and travel the world, but her financial goals often felt overwhelming. Everything changed for Lisa when she discovered the power of small savings.

Her story began with a simple question: “Where is my money going?” After a month of tracking her expenses, Lisa was surprised to see how much she spent on little things. Her daily lunch at the office canteen and frequent taxi rides and multiple streaming subscriptions were adding up quickly. Determined to save, Lisa started making small, manageable changes.

First, she ditched her daily lunch out. The cost of eating at the office canteen was around Ksh. 400 per day, but by packing her own lunch, she brought this down to Ksh. 150 per day. This small change alone saved her Ksh. 5,000 every month for the 20 working days.

Next, she opted for public transport instead of taking taxis. Her taxi rides were costing her Ksh. 600 per day, but by switching to public transport, she reduced this expense to Ksh. 200 per day. This decision saved her another Ksh. 12,000 monthly.

She also took a hard look at her streaming subscriptions. Multiple subscriptions were costing her Ksh. 3,000 per month, so she decided to consolidate them and keep just one, reducing her monthly cost to Ksh. 1,000. This simple step saved her Ksh. 2,000 every month.

With these small changes, Lisa was able to save a total of Ksh. 19,000 every month. But she didn’t stop there. Lisa decided to put her savings into an interest-earning savings account, which offered up to 15% interest, allowing her money to grow over time. Starting with a monthly savings of Ksh. 19,000 and a recurring monthly deposit of the same amount, she accumulated Ksh. 228,000 in one year. With 15% interest compounded annually, her savings grew significantly. By the end of the first year, she had Ksh. 266,401.20. By the end of the second year, her savings had grown to Ksh. 553,573.27 and by the end of the third year, she had an impressive Ksh. 886,909.54.

In just three years, Lisa’s small savings and smart investment strategy resulted in nearly Ksh. 900,000 in savings.

You can start your own journey like Lisa. Here are some actionable tips for you:

1. Track Your Expenses: Use an app or a simple notebook to record all your spending for a month. Identify where you can cut back on small expenses. Fingo’s budgeting tool makes this super easy and it’s absolutely FREE!

2. Set Realistic Savings Goals: Start with a goal that feels achievable, like saving Ksh. 500 a week. Increase your goal as you get more comfortable with saving. Look for investment options with good interest rates. Consider the power of compounding interest to grow your savings. Fingo offers a great option to help you maximize your returns. Our interest-earning savings account offers up to 15% interest.

3. Stay Motivated: Celebrate small milestones. Treat yourself occasionally to keep the momentum going. Remind yourself of your long-term goals and the benefits of saving. Our community page, , can be a great place to find support and inspiration from other users.

Saving money doesn’t have to be about making huge sacrifices. Like Lisa, you can make small changes to your daily habits and see significant results over time. By being mindful of your spending and investing wisely with Fingo, you can achieve your financial goals. Start today and experience the power of small savings. Your future self will thank you!