Kenyan Author Shares 10 Money-Saving Tips For 2024: "Avoid Paid Hookups, Betting"

• Money-saving goals are part of New Year resolutions made by many people worldwide, alongside religious goals
• Kenyan author of How to Make Money Online resources, Llewellyn Ouya, shared 10 tips that could help Kenyans save more money in 2024
• He discouraged Kenyans from spending on indulgences that do not add value to themselves in 2024

Michael Ollinga is a journalist at TUKO.co.ke with over 10 years of experience covering courts and crimes, special reports, and current affairs in Kenya.

Towards the end of every year, Kenyans, like many people worldwide, begin planning how they would love to progress in the coming year.

New Year resolutions are a common topic towards December 31 every year in Kenya, whether or not the previous or ending year's goals were achieved.

Financial goals are among the top goals that Kenyans set aside from religious and health choices.

Concerning finances, most Kenyans on social media have disclosed that they join money-saving groups or apply new financial literacy skills to boost their income and increase their wealth.

Kenyan content creator and author with a penchant for financial growth, Llewellyn Ouya, shared some of the tips he believes will help his fellow citizens increase their income and stabilise their economic status in 2024 as 2023 draws closer to an end.

Ouya took to his Facebook account to share 10 tips he hoped would help Kenyans amass more money and grow financially in the coming year.

Here are the tips, alias Mr. Know It All shared:

1. Have a target of how much you want to save daily, weekly, or monthly, and write it down to ensure you adhere to it.

Under this proposal, Kenyans on social media have shared experiences of joining 52-week saving challenges to ensure they amass finances every week throughout the year.

2. Identify where you are going to save. You could save in a safe box, bank account, Savings and Credits Cooperative (SACCO), Money Market Fund, M-Shwari, or insurance policy.

3. Identify two people who share similar interests in saving; you will keep each other in check and encourage each other.

Saving in Chamas

4. Join a chama if possible and contribute religiously.

5. Have monthly budgets and stick to them. Avoid impulse buying and numerous debts.

6. Cut back on bad habits such as alcohol, substances, paid hookups, and betting.

7. Cut back on numerous baby showers, weddings, and birthday parties.

8. Avoid online get-rich-quick scams

Online scams are not a new phenomenon in Kenya, and authorities have pronounced themselves on the matter, offering Kenyans tips on pointing out red flags about too-good-to-be-true deals.

Side hustles in Kenya

9. Increase your income by getting a side hustle, improving your business, or advancing your career.

10. Buy assets, not liabilities.

Ouya has published several books about online side hustles that Kenyans can embrace to boost their returns.