5 Unconventional Money Tips That Can Help Your Finances


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The internet is awash with personal finance advice, money tips and all sorts of advice that help the average person fine-tune their finances – most of which, should be taken with a shaker’s worth of salt. However, there are some unconventional ideas out there that even certified financial planners and experts agree with. Here are five (5) unconventional money tips that can help your finances.

1. Convert your expenses to hours of work

This is one of the most unorthodox, money tips out there and it works. Converting your expenses to hours of work means that you are thinking of your expenses in terms of hours of work i.e. how many hours of work do put in to earn the money to buy a particular item.

For example, if you make Ksh 1,000 an hour and you are thinking about buying a new phone that costs Ksh 20,000, you should think about how many hours of work it would take for you to earn that Ksh 20,000. In this case, it would take you 20 hours of work.

Thinking of your expenses this way, helps you to make more informed decisions about your spending and value your time and money a lot more.

Related: 5 Outdated Money Tips Millennials and Gen Zers Hate

2. Apply credit card rewards toward your long-term goals

Credit card rewards can be used to improve your long-term financial health when used towards your financial goals.

Many credit cards offer reward programs that can help you save money on shopping, travel or other expenses. As such, instead of just using your rewards for splurging, consider aligning those savings towards your financial goals.

For example, a cash-back reward from your credit card can be used to fund your retirement account, grow your savings or even pay down that high-interest debt. Additionally, you can also use those same cash backs to help reduce your overall monthly bills in savings and pay down your credit card balance when you redeem them as a statement credit.

3. Save your savings

Consider taking advantage of good deals around you to help boost your savings.

Therefore, the next time you buy something on sale, deposit the savings for that purchase into your savings account or any other high-yield savings account. This is a great technique to save money without having to put too much thought into it. However, as much as we are taking advantage of sales, let us not use sales as a reason to buy things that we do not need.

Learn More: How to Save Money in 14 Painless Ways

4. Buy basics on sale in bulk

Currently, the purchasing power of Ksh 1,000 is now worth Ksh 538. As months go by, the Kenya shillings continue to weaken impoverishing many. Therefore, every shilling saved increases your purchasing power.

So, stock up on basic items when they are on sale, and save over time. This is a great way to save money on everyday purchases. Considering how prices are on the rise every day, the cost of items like milk, toilet paper, cooking oil, unga and more keep rising. Buying as many of these times when on sale, to last you a long time will help you save a significant amount over time.

5. Visualize your future self

Visualization is a powerful tool that you can use to create an outcome you cannot see. Therefore, consider focusing your mental energy towards visualising the future self you want. Think about your financial goals in terms of your future self by considering how your financial decisions today will affect you in the future.

For instance, if you are considering buying a buy-on loan, think about how much that loan will cost you in the long run. That is in terms of how the loan will affect your ability to save for retirement for instance or any other financial goals.

Bottom line

These are some of the unconventional money tips floating on the internet that you might not have heard of before. If you are looking for creative ways to improve your financial situation, consider these to help you get started today.

Remember, that not all personal finance advice you find online, particularly on social media is good advice. Therefore, I hope these vetted and tested pieces of advice can help you reach your goals.

Don’t Be Afraid to Ask for Help

Sometimes, things can get quite difficult when we try to go at it all alone. If you are struggling with your finances, do not be afraid to ask for help from a qualified financial advisor or other professional. They can assist you to develop a plan to reach your financial goals and make sure that you are on the right track to achieve your financial goals.

Image Credits: Top by African Creator via Pexels

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Irene Makanga
Irene has an MBA in Finance and is an avid businesswoman, passionate about financial literacy.


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