It is estimated that an average Kenyan spend close to Sh 200k annually on parties alone .
Most analyst have argued that most of these parties are completely unnecessary and most times do not add value to either the host or the guests.
2. Insisting on Designers, Labels, and Brands
From groceries to clothing to prescription drugs, you can save money by choosing an off-brand over a fancy label. And in many cases, you won’t sacrifice much in quality. Clever advertising and fancy packaging don’t make brand-name products better than lesser-known brands.
For example, generic drugs can cost as much as 80% less than their brand-name alternatives.
3. Shopping at the wrong store
If you are particular about price then don’t just walk into any store , a Bottle of drink at Gallitos will cost you almost thrice the amount you buy it at your neighborhood fast food outlet , a supermarket in Westlands will not sell toothpaste at the price you get it in Kawangware.
4. Paying for wedding gown or any other attire you may Never wear again,
Today, almost all weddings, burials,birthdays and even naming ceremonies now have a uniforms which organizers use in adding color and or liquidating their guests ! This is one of the Biggest drain pipes in most low income Families who can hardly afford three square meals but are willing to mortgage their 5 months salary for a 2 hours programme! Nkt! Stupidity…
5. Maintaining a Fleet of Cars
Most people keep a fleet of car to show the world they have arrived , However they fail to realize that their cars start diminishing in value the moment they drove out of the show room . The Insurance ,licensing , and maintenance is an unnecessary expense for a vehicle you drive once in a month!
6. Having Multiple Girlfriends or Sugar Boys.
Women are wonderful creatures, history is replete with men who died because of women only to have those women become c0ncubines of the men who killed their lovers.
A Man with a retinue of girlfriends will have to buy Credit or data bundles for Wanjiru, change wardrobe for Akoth and pay house rent for Kendi all these add up to keep the young mans account in perpetual red !
In the same vein women are reinventing slavery but this time on a different dimension, they have mastered the act of keeping boys whose only duty is allegiance to the Bosom of a woman old enough to be their grand-mothers .
One peculiar thing about these boys is the fact that they have taste as such keeping many boys sometimes leave a tsunami effect on the bank account !
7. Leaving Your Money in a Low-Interest Account
If you’re stashing your cash in a traditional savings account earning next to nothing, you’re wasting it. Make sure you’re getting the best return on your money. Fix any money you don’t need and earn good returns from your bank instead of paying account management fees to a bank which charges you for using your money.
8. Buying the right thing at the Wrong time !
This mistake could some times have devastating effect Its is dangerous to Buy a Land or House during dry season because the area might be prune to floods or the Land could be waterlogged .