You probably could be thinking about ways to help improve your personal finance. However, unknowingly, you might have done it more than three times since the year started. No, don’t call yourself a failure. It could be you haven’t found what works best for you.

You are on the right track as you seek how to manage your income and have a good plan. It’s good to know that personal finance is really personal. What worked for you might not work for the other person.

However, looking at the following might help you improve your personal finance.

Realistic Budgeting

You use a budget to plan and manage your income. You may see it as a complex task that is done by a few, but that is not true. As an illustration, have it crossed your mind that you can use envelopes to help do realistic budgeting? Name several envelopes to say five in number: fare, food, electricity and water, school fee and miscellaneous. Put the money you intend to use for each one of those.

With time you will be able to spend wisely at the same time, reduce and plan your expenses.  In addition, plan for emergencies and future goals. To add on that, be able to save and invest your money.

The purpose is to help you account for your money. Also, you can look up for budgeting apps. The idea is you can be able to trace and account for more than 80 percent of your income. That’s good progress.

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Smarter Goals

You want to be financially stable in the next 12 months. That’s a broad objective. To help improve your personal finance, you could consider something workable. For example, you can commit to clearing your debts in the next 12 months. Also, come up with an emergency fund that will be three times your monthly salary/income within the next 12 months. Additionally, you can purpose to be paying your monthly utilities one or two months in advance.

Good goals are well defined and clear. You exactly know what you want to achieve. Also, you are able to track your progress, daily, monthly or quarterly. Have indicators that you have achieved your goal. Outline the specific tasks that you will need to be completed for the goal to be accomplished.

Weigh the importance of this goal. Does this goal help add value to your plans? When do you want to attain this goal, have specific dates that you aspire to attain your goal. In short, have a workable plan.

Improve Your Financial Literacy

Robert Kiyosaki said, “We are not taught financial literacy in school. It takes a lot of work and time to change your thinking and to become a financial literate.” Financial illiteracy contributes to investment and savings problems faced by many. You are not to go back to “school’ to gain financial literacy. However, you can make use of online platforms that share finance matters in a simpler language understood by all.

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Wrapping Up

It’s a misconception that finance is complex. Along your financial journey, celebrate small victories. Don’t forget, your financial discipline is paramount to your personal growth. For this reason, seek ways to borrow wisely.

Additionally, make and stick to your budget. Nonetheless, be in pursuit of learning and improving on your savings. Invest your money in interest-earning platforms. As such, you will save a coin today and it will save you tomorrow.


  • Grace Njenga

    A versatile freelance content writer.

    A freelance content writer. I’ve been working with a Sacco for more than 10 years. I’ve learnt practical financial and interpersonal management skills and I’m passionate sharing this enlightening formation. Sharing is caring.