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Don 'Caleb' Nyagudi
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Poll
Asked: 2022-07-16T15:39:29+03:00

Would you rather save, consume, or invest your extra money?

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We all want to get the most out of our money. The only way this desire can manifest is by adopting the correct decision patterns in our financial life.

I’m doing a piece on this and would like to get your opinion. Collecting information on the likelihood of Kenyan consumers to save, invest, or consume their extra money. Please take my survey! Thanks in advance.

https://forms.gle/JoCYEWFxA9Wz8Q77A

Poll Results

39.13%Save ( 9 voters )
4.35%Consume ( 1 voter )
56.52%Invest ( 13 voters )
Based On 23 Votes

Participate in Poll, Choose Your Answer.

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    7 Answers

    1. Speaker I am a lover of life.

      I would rather save the money to a certain amount then invest. Because there is no day money will ever be enough .

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    2. Speaker Psychologist

      Hello Don, when you say extra money, I hear SAVE for the purpose of investing later. Investing is key but you must have a tangible goal that you want to achieve hopefully one that will bring you back more returns.

      Most of my life I have got money and consumed it…. One time I decided to start saving just a bit and it has been a good culture to build on because now I just do not want to stop saving!

      Now, when I get extra money, it’s very tempting to want to use it up. But hey… As long as you have an investment goal, or not, it is better to save the extra money and think about how it can work for you.

      For example, I save in a sacco. At the same time the savings are an investment as I get a certain share of dividends when the company is sharing out profits. This is money I never had. It’s extra money, right. I’m so obsessed with saving now, I just inject it back into the sacco!

      The day I have a tangible investment plan, my savings will work for me as I will be able to borrow a loan three times the amount I will have saved.

      At the same time, consume wisely, make good consumption plans so that you have money to save and invest.

      What do you think?

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    3. Specialist Research assistant

      I will definitely invest my extra money so as to earn return.

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    4. Invest. Having profitable investment is a good way to save your money with interests. investing helps one to grow and create more opportunities to make cash

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    5. Investment is the best because your children will inherit after you and comes with a profit

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    6. Participant

      If I wanted to play it safe, I would probably just save whatever I can spare. Yet I do not have the luxury of waiting for the savings to accumulate due to pressing needs. For faster multiplication of the little I have, Investing is the way to go. Sometimes depending on one’s goal, you may need to hold the little that you get bit by bit until you get to the investing target amount which means you may have to save for a while before embarking on investing. What we choose to invest in is a whole different story. In my case, I would not have gambling, online trading, or anything that puts me in constant anxiety in my options.

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    7. Invest, money should circulate rather than be stashed anywhere. Saving wouldn’t add value to your current financial state

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