The
upsurge of Supermarkets and shopping malls in Kenya indicates a changing a
trend in ways Kenyans do their shopping activities.
In
May this year, Consumer Insight’s released their latest Maisha study dubbed “Africa Has Finally Found True Love” which
indicated that 47 per cent of Kenyan shoppers head to malls to shop because of
convenience and pricing margins.
Despite
the increase in shopping activities, these urban residents still face a challenge
of balancing their income with other essential expenses such as transport and rent
which are equally on the rise due to traffic jams and limited houses
respectively. As a result many Kenyans are finding themselves spending beyond
their means to meet these daily demands.
The
study also indicates that Kenyan teenagers and young adults spend over Sh252
billion annually on depreciating assets such as cars. This is a worrying trend
especially in a developing country where about 70 per cent of the population is
unemployed and financially dependent on parents and guardians.
This
is supported by additional findings from the Holla survey released by consumer
Insights earlier this year which stated that Kenyans between the ages of seven
and 25 are taking a cue from their older counterparts and breaking the bank to
spend what they don’t have. This trend will be propagated more by the festive
season that is around the corner. Many Kenyans will make merry and spend more
with little or no regard to saving thus pushing themselves into deep financial
crisis.
By
the end of the season credit cards run dry when utility bills are pending, as a
result they will dash to banking halls to withdraw their last savings to pay
these bills leaving them financially constraint. Simple solutions to be
financially disciplined and track your expenses via your mobile device can be
found on your Lumia, this include:
Spending Tracker
This is the easiest and most user friendly
personal finance app in the store. The simple fact is, by tracking your
spending you’re able to stick to your budget and be able to save money. The
features of the app include:
• Simple and
intuitive user interface
• Flexible Time
Periods (Weekly, Monthly & Yearly)
• Overview of
your current spending progress
• Log Expense
and Income quickly and easily
• Budget Mode
allows you to set a fixed budget amount
• Repeat
transactions daily, weekly or monthly (Pro Upgrade required)
• Editable
spending and income categories
• Reports give
you easy visualization of where your money goes
• Keep your
data safe with Dropbox Backups (Pro Upgrade required)
• Export
transactions to CSV (Pro Upgrade required)
Download the App here
Wallet
Memorizing, storing and taking care of
all your credit cards, vouchers, gift cards and other retail cards and their
information is the built-in Wallet feature on your Lumia. There is no need for
you to be juggling with so much information when all of this gets neatly stored
in your digital wallet.
A secure place for you to store all
digital versions of cards include Windows Store and Xbox gift cards. The wallet
knows how to make your life simpler. To start up, all one requires is a
Microsoft account.
There is a lot that this deep pocketed
wallet app can store for you, such as:
• Credit or
debit cards
• Boarding
passes
• Event tickets
• Loyalty cards
• Membership
cards
• Vouchers
• Windows Store
and Xbox gift cards
It’s time to swap your collection of
cards this time, for something that you carry with you always-your Lumia aided
with these apps. Download the app Here
PayPal
This app allows you to send and request
money on the go, on your Lumia. With this well-designed app one is able to
manage account in a more cost effective manner. It empowers you to check your
balance, withdraw funds or view past transactions – anytime and anywhere just
like you would on the PayPal website. You can also send money between other
PayPal users and your friends.
The app can allow one to find local
merchants and transact business with these merchants at the same time. Download
the app here
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