Lessons from 52-Week Challenge, Staying Focused After the 3-Month Mark
Having hit the 3-month mark since I took it up the M-Shwari 52-week challenge, I can say it has been a learning experience with the satisfaction of accomplishing small milestones.
Saving is not a trait ingrained in the culture of many young people, a habit that needs to change if we are to finance our goals in a sustainable manner.
So, when I set my new year resolutions, the challenge fit perfectly with my goals to save more in 2019. I easily set up a lock saving account with a target of Ksh 68,900 for 12 months and studied the calendar to plan myself.
It was perfect in that, it didn’t require me to make drastic changes in my lifestyle, rather just a little pinch and the screws get tighter as I progress in the challenge.
The first deposit was a 50 bob which was literally pocket change and with that, off I went.
My January savings amounted to 500 bob which translated to Ksh2,250 in February as I continuously increased my weekly savings by Ksh50. By the end of March, I had Ksh4,550 which wasn’t a bad sum for the first three months.
And this is when I really felt the innate need to get a new pair of shoes. I mean, the money was there.
However, I stayed strong and I suggest you do so as well.
As I progress to finish the first quarter of the year, I am optimistic to keep up with this positive trend as I grow my savings.
A couple of lessons I have learnt include finding ways to stay focussed for example, I have set reminders on my phone for when I should make the deposits.
I chose on Friday afternoon just before the weekend sets in and I get irrational about spending money. That way I get to save first before I indulge myself and end up blowing away everything.
Taking advantage of the convenience that the service is on my mobile phone, at times I deposit small amounts during the week - transferring from M-Pesa to the savings account is free - so that as the deposit amount increases I am not under pressure at the end of the week.
Since the money is in the lock savings account, it makes giving into petty temptation to use it at a minimum.
What’s even better is that M-Shwari ensures the saved amount is safe and easy to deposit.
The weekly savings also lead to the loan limit increasing and all deposits on M-Shwari earn interest of 6 percent per annum.
I’m on track and optimistic about achieving my target that I shall use to fund my web solutions company.
That is if Easter and the new Crossfit sneakers don’t derail me.