Face your numbers

Face your numbers

What advice would you give to people who have money issues that they can’t get out of?

Are you the kind of person who looks at your bank details at the end of the month?

You get paid, spend all your cash and only during the last week you sneakily peek into your account to see how much you have left?

Don’t worry, this is  a safe space.

Blind spending and avoidance tactics are very common when it comes to personal financial management. Not addressing the problem is a very common way for people to avoid it or to allow themselves to coast living paycheck to paycheck.

Not too long ago, I spoke to one an Africa’s Pocket’s fan. Let’s call her “Sarah’’ . Sarah had a whole host of money issues, from overspending to being knee-deep in debt to just being in a personal financial shambles. 

One of the things Sarah and I chuckled about is when she looked back at some of her money mistakes. One memorable one being when she decided to move out of her parents’ house when she was earning USD $300 and willingly spent USD $150 on rent. While now we chuckle, Sarah has actually come a long way since then. 

Back when she was  young and naive, Sarah also spent a lot of her cash pleasing people. 

“When I worked at an agency it was lit! But I always felt like I had to please people.’’

Sarah found herself spending money on people and things she didn’t really need.  The rare times she did an audit of her spending, she realised that she and her colleagues had very different financial profiles. She had her rent, a child and many things she had to save for whereas other people in her spending squad had much less responsibilities.

Sarah and I spoke. I soon  realised that she really had a full circle journey when it came to money lessons. As someone who managed to get out of some sticky financial situations, I asked her:

“What advice would you give to people you have money issues that they can’t get out of?”

Her answer: Face the numbers.

In short, learn how to budget. Know what’s coming in and fix what doesn’t need to be going out. 

Our new digital budgeting tool gives you a full circle  understanding of where you stand financially. Not only does it take your information and create your money profile, it also gives you spending categories, showing where you spend the most. This enables you to assess what you need to change in your spending in order to avoid long-term negative impacts on your finances. 

Face the numbers in your finances, don’t be that guy who peaks at your account at the end of the month wondering if you have enough cash. Be confident, be transparent and take ownership of your spending. As Sarah says, face the numbers!

Stay tuned for more!

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brenda khaliyesa on 26th of June 2021

I'm in debt no emergency fund no savings can I be helped how,

Valentine Njoroge on 28th of June 2021

Hey Brenda. Start by tracking your spending & making a budget that will support paying off your debt. We have a budgeting tool that can help you do this here: https://africaspocket.com/product-budgeting-tool Once your debt is paid off, you can start building your emergency fund.

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