5 Ways to Unlock Hidden Savings💰

Saving is not for the rich or those with big paychecks—it’s for anyone who wants to build a better financial future. Did you know that even small tweaks in your spending can free up money you never thought you had? In this edition, we’re sharing five simple ways to find extra cash to save, no matter your income. Let’s get started!

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Greetings, and welcome to the twelfth edition of Wallet Wellness in 2025 - your midweek source of practical personal finance tips to elevate your money management skills.

We hope you had a chance to check out the last edition where we discussed 5 truths if money actually buys happiness. In today’s edition, we explore 5 ways to find money to save and make saving a habit.

As always, be sure to check out the Concept Corner below for a deep dive into the money concept of the week.

Let’s dive in! 

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MONEY254 TIP OF THE WEEK

Hidden Savings: 5 Ways to Recover Money You Didn’t Realize You Had 💰

Payday is coming up, and we know the cycle all too well. Money hits your account, and before you know it, it’s gone—bill by bill, tap by tap, plan by plan. Then, midway through the month, you’re left wondering, where did it all go? đŸ¤”

But what if you could find money to save without feeling like you’re sacrificing too much? 

The truth is, saving isn’t about earning more—it’s about managing what you already have better. Today, we’re revealing five ways to find extra cash hiding in plain sight! 

1. Track Your Spending and Spot the Leaks 📊 

Most people don’t realize how much money slips through their fingers every month. Small, everyday expenses—snacks, impulse buys, subscriptions—can quietly drain your wallet.

  • Check Your Transactions: Review the last two months of your M-Pesa and bank statements. Look for spending patterns.

  •  Use a Budgeting App: Apps can help you track expenses easily. Read More.

  • Challenge Yourself: Try a no-spend weekend or a cash-only week to become more aware of your habits. Read More.

2. Automate Your Savings 🤖

Saving what’s left over never works—because let’s be honest, there’s rarely anything left! The trick is to save first, then spend what remains.

  • Set Up a Standing Order: Have a fixed amount sent to your savings or Money Market Fund (MMF) every payday.

  • Start Small: Even Ksh 500 or Ksh 1,000 a month adds up over time.

  • Use Separate Accounts: Keep your savings in a different bank or MMF to avoid easy access and temptation. Read More.

3. Cancel What You Don’t Need✂️

Some expenses become part of our routine, even when we no longer need them. Old subscriptions, memberships, and even certain banking fees can be silently eating your money.

  •  Review Your Statements: Go through your M-Pesa, bank, or credit card charges and highlight unnecessary deductions. 

  • Cancel Unused Services: Gym memberships, streaming services, or mobile bundles you don’t fully use? Let them go.

  • Negotiate Your Bills: Call your service providers and ask for better rates—you’d be surprised how often they agree! Read More.

4. Turn Clutter into Cash🏡

There’s money sitting in your house—literally. From old clothes and electronics to unused furniture, you can sell what you no longer need.

  • Declutter Room by Room: Start with one area (closet, kitchen, storage) and gather what you haven’t used in the past year.

  • Sell Online: Use platforms like Jiji, Pigiame, or Facebook Marketplace to list your items.

  • Swap or Donate: If selling feels like too much work, trade with friends or donate to free up space. Read More.

5. Use Discounts, Offers, and Cashback Wisely 💵

You’re already spending—why not make the most of it? Smart shopping can free up extra money for savings.

  • Use Loyalty Programs: Supermarkets, fuel stations, and even some banks offer points that translate to real cash.

  • Check for Deals: Before making a purchase, compare prices, look for discount codes, or buy during sales.

  • Leverage Cashback: Some mobile wallets and apps like JumiaPay offer cashback when you pay bills or shop online. Read More.

Saving doesn’t require a big paycheck—it starts with small, intentional moves. The little changes you make today can add up to something bigger than you imagine. The goal isn’t perfection—it’s progress.

CONCEPT CORNER

The zero-based budget

The zero-based budget is a budgeting method where every shilling of your income is allocated to a specific expense, savings, or investment category, ensuring that your total income minus total expenses equals zero. This approach ensures intentional spending and maximizes financial efficiency. Learn More.

Money and Me: ‘I Save Ksh35K Monthly, But I Don’t Know How to Invest’

“…In a nutshell, this single mother seeks a simple-to-follow roadmap to investing. Here is a soft approach, which offers to build security - and yet, some fluid liquidity to handle emergencies and short-term financial needs…” Read On

MONEY254 #MONEYTOK

Running a Profitable Smokie Business in Nairobi

Have you been thinking of a business idea or a side hustle? There are various businesses you can consider starting without a big capital.In this week's MoneyTok, we listen to Wycliffe’s story  on how he has been running hissnack business in Nairobi . Watch the video and learn a tip or two to kickstart your dream of starting a business of your own.

That's it for the twelfth Wallet Wellness edition of 2025! We hope these financial tips have added some energy to your weekly hustle. Stay tuned for more practical insights in our next edition of "Wallet Wellness" next week and watch out for Money Weekly.

Also, don’t forget to download the Money254 App on the Google Play Store, and remember that we can help you compare over 300 loans, savings accounts, current accounts, and more if you’re thinking about your next product.

Cheers to your wallet's well-being!

Money254 editorial team.

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