Simple frugal ways to save income

Looking for frugal ways to save your income?

If yes, stay tuned and get to know some my personal favorite 5 ways to save income that actually worked.

We all want to be able to save some of our income to either buy something worth the penny. Or take our saved income and invest into real estate, shares, start up business or even open a savings account for college tuition or retirement. But learning how to save such income is usually our biggest hurdle.  For some ever reason, we struggle to practice financial discipline in this field due to bills, student loans, debts and the like.

Well , the good part is that you can always start small saving small amounts which later on turn into income that you can buy or invest and channel into other income streams. I personally started this practice when I got my first job as a business development officer. Took me about 3 months to save up my travel allowance, from a number of projects and trainings I managed, to reach my target. Long story short. I finally made enough savings to buy myself the latest phone model at the time which was a  Huawei P30 lite.

Since then, I have been making savings that will in turn help me grow financially and achieve my goals. I decided to make of how to save some of my income but practicing these 5 frugal ways;

  1. Make a budget with categories of expenses, and adjust lifestyle to start saving

This helps one live within the budget and avoid over spending.

  1. Determine how much you need to save –looking at how much you make plus expenses

Your goal is your guide to know how much you need to save. For instance, my phone costs K230,000 MWK , so I submitted my monthly bills, cut a few costs and planned to save K76,000 per month from my salary and travel allowance to cover for this. It wasn’t easy and to be honest, 1 week I couldn’t afford to buy proper food but I knew it was only for a short while.

  1. Start to Visualize your goal

It really helps to imagine holding that which you want so badly.  It motivated me whenever I felt like I needed to spend over my budget.

  1. Track your financial progress

When I managed to make my first K76,000 I felt closer to my dream phone. Plus I happened to stop by the phone shop every now and then just to push me further. The store dealer was nice enough to give a 0% installment deal as I continued saving. And helped me decide what colour I wanted. J

  1. Read other financial resources on saving

Its not doubt I got to practice these 5 frugal ways to save income by reading what others were doing. I read on pinterest, google and even asked friends how they saved some extra cash.

You can check out some of the resources I look into below.


 There`s no 1 size fits all to this. That why its great to supplement what you can grasp from here and even check other resources such as  financial blogs, news articles and podcasts.