Did you know? Money is like water – if you don’t hold it well, it will slip through your fingers. And guess what, if you don’t control your money, then it’s obvious your money is controlling you. Many of us, especially here in Africa, struggle with controlling money. One minute you have it, next thing, it is gone like maize flour on a windy day.
So today, let’s talk like village friends around the fire. Let me show you, step by step, how you can get hold of your money, manage it properly, and start walking on the path to a better life.
1. Know Where Your Money Goes.
First things first – do you even know where your money is going? You must ask yourself, “Am I spending on needs or on wants?”
Let me give you an example. Chikondi in Blantyre earns K150,000 every month from selling tomatoes. But by the 10th day of the month, she is already broke. Why? Because she doesn’t keep track. She buys soft drinks every day, borrows airtime, and gives money to friends who never pay back.
What to do:
Write down every tambala you spend. Get a small notebook or even use your phone. This will open your eyes. You’ll see where you’re wasting money.
2. Create a Simple Budget.
A budget is like a road map. It tells your money where to go instead of wondering where it went.
Let’s say you earn K100,000 a month. You can divide it like this:
- Food – K30,000
- Rent – K20,000
- Transport – K10,000
- Savings – K10,000
- Emergency or Health – K5,000
- Airtime & Other Needs – K7,000
- Church or Giving – K13,000
- Fun or Treats – K5,000
You see? Now money has purpose. Without a plan, your money will disappear like a goat in the bush.
3. Start Saving, Even Little by Little
My friend, don’t wait until you have a big amount before you start saving. Even if it’s K2,000 every week, it adds up.
In Lilongwe, there is a lady called Alinafe who started saving K1,000 every week in her kitchen jar. In one year, she had over K50,000 and used it to buy a small freezer. Today, she sells freezits and earns more than before.
Tip: You can use village banks or local savings groups (like Chimwemwe group). Just make sure it’s safe and people are trustworthy.
4. Avoid Useless Debts
Aah! This is where many of us get trapped. We borrow money to buy clothes, smartphones, or go to parties. That is not wise. Debt must be for something that brings money, not just enjoyment.
Only borrow if you know how you will pay back. For example, if you borrow K20,000 to start baking and selling cakes, that’s a better idea than borrowing to attend a wedding in Mzuzu.
5. Separate Business Money from Personal Money.
If you sell mandasi or own a small salon, please, separate your business money. Don’t take the profit and buy new shoes the same day.
Try to have two money places – one for business, one for personal. This way, you grow your business and still have something to eat.
6. Say NO to Impulse Buying.
You walk into town, you see a new pair of shoes – boom, you buy without thinking. That is called impulse buying. If it was not part of your plan, walk away.
Practice self-control. Ask yourself, “Do I really need this type cloth today?” Give yourself 3 days to think about it.
7. Learn About Money.
Ask elders, attend free training, watch videos, or read. The more you understand how money works, the better you handle it. Knowledge is power.
8. Pray and Be Disciplined.
Yes, prayer is important. Ask God to give you wisdom to manage your money. But also, don’t just pray – take action. Be disciplined. Even if you earn little, you can still manage it well. It’s time to make your live organized. Do you know How to Make your Life More Organized? you can find out more there.
Conclusion.
Controlling your money is not magic, my friend. It is small steps done every day. Know where your money goes, plan it, save a little, avoid unnecessary debt, and be disciplined.
Just like a farmer who plants maize and waters it every day, you too can grow your money if you treat it with care. Whether you sell charcoal in Zomba, or run a salon in Lilongwe, or herd goats in the village, these steps will help you.Start today. Control your money before it controls you.
You may also love to learn How to Avoid Being in Debt? Practical Guide.