By Krantz Mwantepele
Most people get stuck when it comes to the subject of making money versus
saving money. The tricky question here is, which one is most important to you –
making or saving money? In my previous post, FINANCIAL
GOALS CAN LEAD TO EMPOWERMENT, I elaborated on the importance of having
financial goals in life.
In recent years, it’s become easier to make money due to emerging opportunities
in East Africa. Advancements in technology also make it possible for anyone,
even those with a demanding schedule, to make extra income. Now, anyone can
start an online business with various web-based business services.
Increasing your income should always be a priority due to the ever-rising
expenses. The cost of living keeps on increasing, which makes it hard for
people to cover their daily expenses. Income generating ventures – apart from
the traditional income/ salary – are becoming vital.
As someone once said, ‘Money saved is money earned’. But, saving can be little
stressful and it needs discipline. You have to change your spending habits and
stick to a frugal lifestyle.
Those who opt for saving instead of increasing their income need to have a
long-term perspective on things. After all, when you start saving, it seems
The Barclays Africa Savings Challenge has helped me start a fun and remarkable
savings journey. Previously, I used to spend more than I saved and sometimes I
wouldn’t save anything. With the savings challenge, I had to save and share my
experiences with my followers so that we can all have a savings road map to
In order to save, one needs to live within their means and seriously keep
spending habits in check. In practice, this is harder than it sounds. Whether
one wants to cover the cost of living, start a business, buy a house or acquire
wealth, it’s essential to maximise and develop the skills of making money and
This is the sixth article in a series of sponsored posts for the Barclays
Savings Challenge. Follow the discussion on Twitter and Facebook and share your
own experience by using #AfricaSaves.
Visit the Barclays website for more information on the savings accounts
available to you. CLICK HERE for