You’re Not Poor, You’re Just Overspending

Most times, it’s not how much you have but what you do with what you have. Embracing mindful spending can make all the difference in your finances.

Kuda App
3 min readJan 16, 2024

So, you checked your Kuda Spending Report and thought, “Am I dreaming?” Well, you’re not.

Whether or not you’re still in shock about how much you spent last year, 2024 is a clean slate and it’s time to make better money plans.

If you’re the kind of person who feels rich on payday and then goes broke just a few days later, it’s time to master the art of mindful spending. And, no, this isn’t rocket science. Mindful spending means cultivating simple habits that will improve your money decisions every day.

So, how can you embrace mindful spending this year?

1. Save before you spend.

After you get paid, the first thing to do is save at least 10% of your salary. It doesn’t matter if you’re a high-income or low-income earner. The idea is to put some money away for when you might need it. If you find it hard to save, turn on the Spend+Save feature on your Kuda app to save money automatically every time you spend.

2. Create a budget.

Let’s face it, bills are never going away. Allocate money to different bills at the start or end of every month. This will help you know exactly how much you spend on your upkeep. And remember that your Kuda app is a good way to pay all your bills in one place — data, airtime, TV subscriptions, meter tokens and even your Cowry wallet top-ups.

3. Stop impulse buying.

it’s an emergency, if it’s not in your budget, it can wait. Turn off notifications from websites and social media pages that tempt you to spend. Out of sight, out of mind, right?

4. Block friends who initiate unplanned spending.

Sometimes your best company is you. If they always call to hang out and overspend, it might be time to rethink the friendship. You can create a Pocket for enjoyment on your Kuda app and never spend more than the money you’ve saved in that Pocket.

5. Stay focused.

Embrace good money habits and watch your money goals come to life. Plus, you’ll boost your confidence and be proud of yourself. And if you need more focus, just review your 2023 money decisions here. That should keep you grounded.

Cheers to hitting your money goals and a better spending report 2024.🥂